71–80 of 81 posts
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Harsh winters and humid summers are quite miserable. People are less likely to want to go out, certain businesses are closed, specific activities are not possible, etc. The amount of “nice days” you get in CA is much greater than elsewhere in the US.
Even compared to Hawaii?
Earlier quoted context omitted.
Harsh winters and humid summers are quite miserable. People are less likely to want to go out, certain businesses are closed, specific activities are not possible, etc. The amount of “nice days” you get in CA is much greater than elsewhere in the US.
Even compared to Hawaii?
Earlier quoted context omitted.
Harsh winters and humid summers are quite miserable. People are less likely to want to go out, certain businesses are closed, specific activities are not possible, etc. The amount of “nice days” you get in CA is much greater than elsewhere in the US.
Even compared to Hawaii?
Earlier quoted context omitted.
California is in the top quartile of safest states in the US. Your complaint is that rich people wont have their property taxes jacked up and they haven't "eradicated" crime. As a response to the fact that California is as close to the French Riviera as we have in the US.
I've never seen this insanity anywhere in world except for California: https://nypost.com/2023/07/18/san-francisco-stores-lock-up-f...
Even making $250k/year isn't enough to afford to live where I grew up in San Jose, CA. It became a tiered society of mostly low-paid and middle-income renters contrasted with some retired (maintaining Prop 13) but mostly ultra-rich (mostly people from abroad who bring huge piles of cash) who are the only ones who can afford to live there. It slides into becoming a miserable banana-republic (unless you're very rich).
As a resident who was born here and left and then came back, I’ve had this idea kicking around in my head of “California is a luxury product”. If you look at the entire US, and assume you have the ability to move and live in any state, there are lots of options for everyone at every income level. (Disclaimer that this doesn’t address poverty, DEI, and other limitations to a good chunk of citizens). From the Gold Rush…
They moved to CA in the 1840s to seek to get rich, not because they were already rich. People moved to CA to try to make it big in movies or music, although most failed, they still lived a pretty good lifestyle throughout most of the 20th century. Not because they were already Brad Pitt or Madonna. People moved to Silicon Valley, initially just to get jobs at a burgeoning semiconductor industry a few decades ago. The…
And the question is more about whether it’s currently primarily a luxury option as a headline idea, with a thousand different caveats.
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In some (or all?) counties, if you move to another house in the same county you can keep your original tax base. Transferring a Principal Residence Value within a County “Proposition 60 (Revenue and Taxation Code 69.5) Property owners of at least 55 years of age may transfer the base year value of their principal residence to a replacement principal residence. The replacement must be of equal or lesser current market…
As of 2023 this is true any county to any county. What they took away was being able to inherit the tax base on rental properties.
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A significant fraction of wealth is difficult to track because asset value isn't "real" until there is a transaction that places a value on it, which the government does track. Until those transactions happen, any estimates of asset value are notional and may not be remotely realizable in a real market.
when i took econ, there were a host of gva shenanigans that made it amply clear how asset values null out. canonical question - when you marry your cook, what happens to gdp ? accepted textbook answer - gdp goes down because cook was paid income to cook your food. now she is your wife. if your wife cooks food for you there is no transaction. no invoice. no line item. gross value added has gone to zero.therefore gdp g…
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It's a terrible luxury product though because 1) Prop 13 means that people from 50 years ago are still in the luxury neighborhoods 2) Crime is not sufficiently eradicated even from expensive areas
Just to put a dose of reality here, Prop 13 property taxes reset on sales (there are exceptions when selling to children of the owners but generally they reset) and property turnover rates in California are generally in excess of 10%. What that means is that pretty much all of the taxes are reset every 10 years or so. This is more true of "desirable" places to live (Bay Area, LA, San Diego) than say "less desirable".…
This is how all the rich people avoid prop13 taxation.
California is a beautiful state. It has a ton of natural beauty, recreation, entertainment options, food, anything you could want. It's no wonder people want to live there. The ultra rich are able to keep housing costs high and paint false narratives about crime in the media to keep the normies away, while enjoying it themselves. It's a great con.
No, there is a crime problem, specifically a property crime problem. On crimes that involve loss of life, the biggest Californian cities are doing Okay, if not better than expected per capita. On property crime California's cities have very elevated risk per capita, especially SF. Being killed is a big deal, but no city has such a problem with murder that it can touch the scale of property crime. Thus property crime…
Not in the Presidio. Nor much of the South Bay. I went to a nice sushi restaurant in an okay part of Sunnyvale, and came out to cops politely watching over my friend's car: he had sat on his keys during dinner thereby opening the boot unattended.