Quote:
Originally Posted by Moses
Not where you live, it won't.
There are two Californias. In desirable areas the real estate market is global. When prices slip. overseas buyers move in. The prices drop, but never really collapse. The central valley could indeed have a Detroit-like collapse.
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Well, It depeends on the politcs and tax laws that will come in the next few years.
Yes, this is theland of dreams. I do fear that we do have a fair chance of a much larger decline in California's future.
The upper midle class to very rich simply can not support the masses of poor.
add in the rules and regulations of employment, CARB and other anti business trends the future of California isn't as rosie as it used to be.
There's plenty of nice parts of large cities that I do not want to live in such as Long Beach, Santa Anna & Anaheim due to the masses of poor vs middle class.
The Masses will win in politics. I drove by a house in Lakewood Village part of Long Beach that's up for sale and fits my needs ( Single story, Joanna's MS is getting worse and we're in a 2 story house) This house is very attractive from the curb. Craftsman style features, nice colors etc. I passed due to the city.