OT: Wouldn't sell for $100K in AZ

I sold a house in Mountain View in about 1963 for about $24,000. It has been resold for over a million about twenty years ago. ( 1600 Nilda Ave ) ( Zillow estimates it at just oven two million now.)

But I would not live there now if the house was free. Zillow does not list the lot size, but it is not very big.

Dan

Just another housing bubble...you do remember 2007, 1989, 1979?

John :-#(#

That's how things are around here. Land is limited and companies like Google and Apple and Facebook and Intel are paying huge salaries.

Property tax will be about 1% per year, about $2250 per month. Possibly not federal-tax-deductible soon.

The building that we lease in SF was recently sold. It's a teardown, just bought for the dirt... at over $3000 a square foot. It will be a gigantic apartment or condo thing or something.

Our new place on Potrero will be a lease, not a purchase. The owners have had it forever, so pay trivial property taxes under Prop 13. That's win-win.

It's crazy to do business here, but this is where the talent wants to be.

"About 5 million Californians left between 2004 and 2013. Roughly 3.9 million people came here from other states during that period, for a net population loss of more than 1 million people"...

Pretty soon they'll be nothing left but illegals, then the property "values" will plummet ;-) ...Jim Thompson

Fine by me. There are too many people and especially too many cars here now. WAY too many bicycles.

It is very nice in some non-urban parts of California. Small towns in the Sierras and the foothills, and on the coast, are beautiful.

Arizona doesn't have any illegals?

Not as many as other states... Thanks to Sheriff Joe.

And we don't have to contend with the cost of a high-speed rail to nowhere >:-} ...Jim Thompson

Your hostility to California is irrational. It's a beautiful place full of smart people and world-class businesses. Naturally a lot of talented people want to live here, so bid to be able to do that.

It would be more rational to be hostile to New Jersey.

The illegal population of CA is about 5.8%. In Arizona, it's about

You seem to think that Arizona has the virtue that not many people want to live there, and that California is bad because lots of people want to live here.

Irrational. Something else must be going on.

Looks like a tear-down.

When I enlisted in the Navy, I took a bus to Chicago so I would go to boot camp at Great Lakes and maybe get posted to a ship in the Pacific. That wo rked and I was posted to a destroyer that was being over hauled at Mare Isl and. And I thought that San Francisco was great. So when I graduated from college I drove across country to the Bay Area. And went to work in Silic on Valley.

Great restaurants both in the valley and in San Fransico. Use to go to Tra der Vics and another restaurant in SF ( Can not remember the name ). And there was a great burger place in Mountain View. A real charcoal grill. A nd lots of other great restaurants. But this was in the early 60's. But p eople kept coming and the Mountain View disappeared with the smog. And th e traffic got worse too. Great weather, but more people than I like.

Dan

Don't give a damn what it sold for, it's a piece of garbage.

But what percentage is the price of the land? In the 70's in NYC it was about 5% of the price of a house. I bet that vacant lot is 95% of the price. In NYC today it's about 50%.

"Smart people" who voted for Jerry Brown ???

You keep missing: In California there was a NET loss of population of

Nope. Not irrational. Fear. Currently many (if not most) California cities, counties and school districts can't meet their pension obligations, yet keep handing out an excessive benefit claiming union contracts force them.

When the bubble bursts California will declare bankruptcy and come begging for the Feds to bail them out. New Jersey, Illinois and who knows what other Dimocrap-run state will join in.

The Feds will acquiesce... we're already teetering on the edge of Venezuela-style socialism.

You will be happy >:-} ...Jim Thompson

I didn't vote for him. I don't vote for anybody. Whatever he does in Sacramanto, I just ignore. I have plenty of fun and productive stuff to keep me busy, so I ignore politics. Hint, hint.

Loss and gain simultaneously? What, are people having babies?

Loss of population would be fine by me. Makes it easier to drive around and walk into our favorite restaurants without a reservation. I'm looking forward to the next tech crash. Apple, Tesla, Google, Salesforce, Uber, Lyft, all that junk. A good crash would free up some valuable barstools.

I don't understand fear. Fear is for wusses.

Currently many (if not most) California

My company has a 401K plan. The company pays about 15% of everyone's salary into the plan every year, and then it's their money. So the company has no pension obligations.

Many other states have much worse pension problems. So why aren't you whining about Illinois or New Jersey?

If California's pension problems somehow came to affect me, I could easily move my legal residence to Nevada. Nevada is mostly blasted and bleak and sleazy like Arizona, but the east shore of Lake Tahoe is nice.

Incline Village straddles the border, on the north side of the lake. Just over the line, there are a zillion luxury condos full of rich California refugees. They call it "Income Village."

I'm already happy. Why aren't you?

Probably because you look at radical news sites constantly and get all frightened and worked up. Quit doing that.

California has been very good to me. It's beautiful. I chose it and I like it here.

I'm quite happy. I'm also a realist. I see trouble coming.

I actually read many more leftist sites than right-leaning.

The ostrich approach? Wonder what will happen when the Californica bubble bursts ?>:-}

Or Wall Street gives us a 1929-style collapse? ...Jim Thompson

Housing prices will come down a little. There will be lumbersexual-dressed brogrammers on the streets with signs WILL CODE FOR FOOD.

Sounds good to me.

"WILL CODE FOR FOOD". I like that >:-} ...Jim Thompson

Connecticut will be the first state. It's a race between CT and Puerto Rico to see who can reach the teat first. IL and CA will have it easy.

This is less than 4 minutes.

Victor Davis Hanson: The Future of California You Don't Want to Know

Yep, most Americans in our 20s and 30s are aware that the most productive course of action towards personal wealth would be building a time machine.