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The price is high because the supply is low. If the banks put all their foreclosures on the market, or they had been building anything in the last 5 years, it would be a different story. The prices of rural property in California are also disproportionately high. I know a number of people that commute several hours because they either could not find anything within reach where they preferred to live due to expense. This has driven up prices in surrounding rural areas.
The percentage of commercial space that is vacant is truly staggering.
California is a great place, it just needs better management running it.
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Last edited by Tobra; 05-16-2013 at 09:00 AM..
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