California's skyrocketing housing costs, taxes prompt exodus of residents • Hacker News Board

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#51

Post by mc32 » Thu, Jun 23, 2016, 2:59 PM UTC

shawndumas wrote: post #44

sideband wrote: post #33

There's some sort of Stockholm syndrome prevalent among too many Bay Area residents that compels them to accept the lower quality of life. I lived there for several years until recently, and it was a surreal experience to hear others discuss the sacrifices they were making just to have a roof over their family's head, to provide a half-decent education for their children. And these were well-payed folks at the brand-…

Having lived in Long Island, NY and Boca Raton, FL I gotta say... I don't think I could leave the Bay Area. The weather, the geological features, the schools, the meetups, the job opportunities... all factors. But the biggest is that the people are truly interested in intellectual matters in a way that was not extant in the other places I've lived. My son is a programmer and nobody had a clue what he was talking abou…

Jobs and day trips yes. Schools, no. Public schools are among the worst funded and least achieving. Good schools, go to Mass (with also good day trips, but harsh winters).

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#52

Post by sphinx65 » Thu, Jun 23, 2016, 2:59 PM UTC

TDL wrote: post #36

shiftpgdn wrote: post #29

Earlier quoted context omitted.

Why do government pensions even exist anymore? There is absolutely no reason for them and they need to go. The government can pay a reasonable salary if they wanted skilled workers.

I agree with you. I think pensions are a mistake in general, however, many municipalities, counties, and states are locked in to existing pensions schemes. I am for doing away with pensions in the future, but the existing obligations need to be funded appropriately.

Pensions aren't the mistake, low interest rates are the mistake.

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#53

Post by cubano » Thu, Jun 23, 2016, 2:59 PM UTC

nugget wrote: post #28

I spent most of my childhood in California. Real estate is and always has been the number one industry in the state. The majority of my childhood friends' wealth seems to derive from houses their families bought in the early 80s or earlier. Prices have benefited from a stable of one trick ponies - fixed low property taxes (prop 13), massive population growth (net domestic migration is now negative), job growth from t…

The price will hit a ceiling at the exact time demand = supply, and not a moment before.

A worldwide markets for these homes now exists, which means the number of people who both want and can afford them is huge, and therefore the price will rise until that condition is no longer true.

Also, I believe we are again seeing signs of loan company shenanigans which, if so, will allow easy-to-game capital to continue to chase prices upwards as well.

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#54

Post by [deleted] » Thu, Jun 23, 2016, 3:00 PM UTC

shawndumas wrote: post #44

sideband wrote: post #33

There's some sort of Stockholm syndrome prevalent among too many Bay Area residents that compels them to accept the lower quality of life. I lived there for several years until recently, and it was a surreal experience to hear others discuss the sacrifices they were making just to have a roof over their family's head, to provide a half-decent education for their children. And these were well-payed folks at the brand-…

Having lived in Long Island, NY and Boca Raton, FL I gotta say... I don't think I could leave the Bay Area. The weather, the geological features, the schools, the meetups, the job opportunities... all factors. But the biggest is that the people are truly interested in intellectual matters in a way that was not extant in the other places I've lived. My son is a programmer and nobody had a clue what he was talking abou…

[deleted]

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#55

Post by JoeAltmaier » Thu, Jun 23, 2016, 3:00 PM UTC

chiph wrote: post #50

Could there be a brain drain here? I see these people as being the smart ones - those who realize they're in a losing financial situation, and have the motivation to do something about it, even though in the short term it's painful for them (leaving friends & uprooting their family).

I had it easy - moved to CA after college, stayed 10 years, then moved back to friends and family. Used the increase in my CA house to fund a farm in Iowa. Still work on startups, but remotely.

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#56

Post by greedo » Thu, Jun 23, 2016, 3:00 PM UTC

aphextron wrote: post #39

When people saying housing costs are out of control in California, really they mean the bay area. Every other part of the state is no worse than anywhere else.

San Diego county coastal isn't what I would consider in control...

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#57

Post by shawndumas » Thu, Jun 23, 2016, 3:00 PM UTC

aphextron wrote: post #34

TwiztidK wrote: post #9

I just visited some friends in southern California and the possibility of me moving out there came up in conversation. So, I used a cost of living calculator to figure how much more I would need to make to be at the same level... 60% more. Definitely not going to happen.

Meh, it's not impossible. My salary went up 50% when I moved here.

When Yahoo bought Interclick, and then subsequently brought us out, they gave my team CoL bumps that had us at roughly the same level in the Bay Area as we were in South Florida. But we were away from the heat/humidity, lack of undulation, and bugs (flying cockroaches; ugh).

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#58

Post by saenns » Thu, Jun 23, 2016, 3:01 PM UTC

nugget wrote: post #28

I spent most of my childhood in California. Real estate is and always has been the number one industry in the state. The majority of my childhood friends' wealth seems to derive from houses their families bought in the early 80s or earlier. Prices have benefited from a stable of one trick ponies - fixed low property taxes (prop 13), massive population growth (net domestic migration is now negative), job growth from t…

don't forget barriers to new construction such as NIMBY, zoning, environmental

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#59

Post by sphinx65 » Thu, Jun 23, 2016, 3:01 PM UTC

aphextron wrote: post #39

When people saying housing costs are out of control in California, really they mean the bay area. Every other part of the state is no worse than anywhere else.

Huh? CA has had real estate values vastly above the average since the 1980's. I remember seeing dumpy ranch houses in Salinas, CA for nearly a half a million in 1992. Such a house would have been $40K almost anywhere else.

Re: California's skyrocketing housing costs, taxes prompt exodus of residents

#60

Post by superswordfish » Thu, Jun 23, 2016, 3:01 PM UTC

shawndumas wrote: post #44

sideband wrote: post #33

There's some sort of Stockholm syndrome prevalent among too many Bay Area residents that compels them to accept the lower quality of life. I lived there for several years until recently, and it was a surreal experience to hear others discuss the sacrifices they were making just to have a roof over their family's head, to provide a half-decent education for their children. And these were well-payed folks at the brand-…

Having lived in Long Island, NY and Boca Raton, FL I gotta say... I don't think I could leave the Bay Area. The weather, the geological features, the schools, the meetups, the job opportunities... all factors. But the biggest is that the people are truly interested in intellectual matters in a way that was not extant in the other places I've lived. My son is a programmer and nobody had a clue what he was talking abou…

Long Island and Boca Raton aren't exactly stiff competition in the "life of the mind" department. Also I disagree, IT is huge out there but other disciplines get short shrift.