Need help with a down payment? California Stupidity

[Sanlmar]

Need help with a down payment? California Democrats want the state to chip in for homebuyers

https://www.sacbee.com/news/politics...#storylink=cpy

The state would serve as a “silent partner” to first-time owners, in exchange for up to 45% ownership of a house. By their calculation, that means someone eyeing a $400,000 home could buy it for “a more affordable price” of $220,000, with the state picking up the other $180,000.

It’s a glimpse into the alternate California liberal reality so extreme that even a liberal would find hard to believe. Pure entertainment and a source of ridicule for me.

Apparently, economics isn’t taught in the California state colleges. Housing is a supply problem. Amping up demand does not solve any problem. It creates bubbles and structured foreclosures.

Red states have land. They will feel the pain that was felt in Blue States 50 years ago. People moved out of the cities and developed farms. Zoning was created to preserve idyllic suburbia but in turn created a lack of housing for succeeding generations. Rent control and similar misguided liberal attempts to help ensued. There is a socio-economic cycle of life

State owned single family housing sounds like fun if you are Karl Marx. $180,000 subsidies is crazy town. However, this is not an isolated movement. Biden was gonna “give” $25-50k to first time buyers. This just drives up prices $25-50k. It does not solve supply. Another bubble is inevitable cause public policy cannot resist being stupid.

No lesson is ever learned. Not 2008 that’s for sure. We never should have kicked the can down the road.

The California punching bag always makes me feel better. Just keep that brand of stupid on the west coast.

[Dan Druff]

Yeah right now it's a perfect storm with Biden as Presidenct (where basically he wants to be "transformational" in his likely 1 term, and is abandoning his longtime moderate principles), Newsom as governor, very left wing governments in major CA cities, and a general welcoming of extreme left ideas within the Democratic Party.

They're all getting together and doing their best to completely ruin the state.

Many ask me why I stay in California, given my ability to relocate elsewhere. It's not like a job is keeping me here, and it's not like I have a child custody issue, since I'm still with Ben's mom.

I cite the following reasons I stay:

- Familiarity -- I grew up here (even though I was born on the east coast), and I have spent more years than any other state, by a wide margin

- Easy drive to Vegas. This is a bigger deal than you think. I hate dealing with airport/airline bullshit, and love the flexibility I have from SoCal to just get up and go to Vegas whenever I want (and return on my own schedule).

- Varied terrain/climates. Do I want to go to the snow in the winter? I can go 100 miles for snowplay with Ben, and 330 to get to Mammoth for very good skiing. The desert? Very close. The beach? Very close. The forest? Very close. The only thing lacking in southern CA is easy access to lakes. There are some, but not all that many, and the few that exist tend to be very crowded for that reason.

- Good weather. Mild winters and mild summers where I live. While it's not Florida warm in the winter (many nights are in the 30s where I am), most days are over 60, and then the summer mostly stays under 90, with no humidity issue. We get a few weeks of humid weather per year, usually in August/Sept, and once in awhile at other times, but it's not common.

- No hurricanes or tornadoes.

- Parents live in the area. Obviously they're not young, and I want to spend time with them regularly. I'm fortunate to have both parents still around, given that I'm almost 50.

- The Dodgers. Don't laugh, Sanlmar. I love Dodger Stadium and it would be sad having to give that up.


However, there are some big negatives:

- Left wing government turning everything to shit, especially in LA and SF.

- High taxes.

- High housing prices.

- Worsening drought, which might become a real issue soon.

- Worsening fire situation. This fall might be terrible. I live in a fire danger area, and I've gotten so used to them that I can now tell which fires are a danger to our house, and which aren't.

- Earthquakes.

- Lots of ridiculous, restrictive laws on things. A few are good (anti-SLAPP is an example), most aren't.



Anyway, I'm going to be here for awhile.

[Kalam]

I have lived in LA area my whole life. My parents relocated to Reno a couple years ago, and one of my sisters and her whole family (kids, grandkids) is talking about packing up and moving there too.

I would definitely leave So Cal if it was up to me, but not going anywhere because my wife's family is here, and they aren't going anywhere and she isn't going anywhere without them.

I have floated the idea of moving to Orange County so there is less of a threat of bad local politics, but we currently live about 2 miles from my wife's work and she is very comfortable with her situation, so she is very resistant to moving.

[dwai]

JimmyG_415 says there's nothing to worry about, it's all fox news propaganda and that the weather is great in California

[Kalam]

The weather is great near the coast. But unless you live in an ethnic ghetto (which has its own obvious problems) it is completely unaffordable, and even if you could afford it a lot of the places have huge quality of life issues because of the homeless/crime/traffic situation.

While most of the SW US is going through an intense heat wave, San Francisco, Santa Monica and San Diego have highs in the low 70s today. The fact people are having to choose 115 degree weather over this shows just how insane the political mismanagement situation is.

[MumblesBadly]

The weather is great near the coast. But unless you live in an ethnic ghetto (which has its own obvious problems) it is completely unaffordable, and even if you could afford it a lot of the places have huge quality of life issues because of the homeless/crime/traffic situation.

While most of the SW US is going through an intense heat wave, San Francisco, Santa Monica and San Diego have highs in the low 70s today. The fact people are having to choose 115 degree weather over this shows just how insane the political mismanagement situation is.

That’s not fair! Those cooler-clime California locales should share some of their cooler air with the hotter parts of the state! #FairCaliforniaAirTempsNow

[BetCheckBet]

I always find it intersting when Americans complain about housing prices. Yes you have places like S.F. But housing prices otherwise in USA are cheapest in the world. Most developed nations have housing prices at least twice as high.

That right there should tell you something about America’s housing crisis....

[gut]

State owned single family housing sounds like fun if you are Karl Marx. $180,000 subsidies is crazy town. However, this is not an isolated movement. Biden was gonna “give” $25-50k to first time buyers. This just drives up prices $25-50k. It does not solve supply. Another bubble is inevitable cause public policy cannot resist being stupid.

Yup.

A perfect example of this is American colleges right now. As soon as government backed loans showed up, tuition skyrocketed into the hellhole where it is today.

Maybe you could get a government backed second mortgage now to pay for the kids college! Government at work!

[Kalam]

To Mumbles:

My family likes my wife more than they like me. If I left her, Reno is the last place I would be welcome :/

[Dan Druff]

State owned single family housing sounds like fun if you are Karl Marx. $180,000 subsidies is crazy town. However, this is not an isolated movement. Biden was gonna “give” $25-50k to first time buyers. This just drives up prices $25-50k. It does not solve supply. Another bubble is inevitable cause public policy cannot resist being stupid.

Yup.

A perfect example of this is American colleges right now. As soon as government backed loans showed up, tuition skyrocketed into the hellhole where it is today.

Maybe you could get a government backed second mortgage now to pay for the kids college! Government at work!

College tuition is a huge scam. It has rocketed up at insane rates over the past 30 years, even at public state schools. You're exactly correct -- the government backed loans caused an unnatural inflation in tuition rates.

There is absolutely no reason that tuition in 2021 should be any higher than 1990, other than inflation-adjusted (which is only about 2x).

I attended UCSB from 1990-91 for $1800 for the entire year. Can you imagine, even if we double that to $3600 for 2021 dollars?

A big problem is that state colleges have their own budgets, so their goal is to raise money, not serve the public. If these were operating from a general state budget, where they don't reap direct rewards from higher tuition and nickel-and-diming students, then they wouldn't do this shit. So if the government is willing to back insane student loans, the colleges are happy to take it. As a side effect, parents paying for their kids' tuition also get fucked, even though loans don't even directly play into it.

I would love for this to be reformed, and for there to be some kind of oversight regarding in-state tuition for public colleges. The private colleges can obviously charge what they want, but they've been able to jack up rates because the public ones have jacked up theirs.

[garrett]

Need help with a down payment? California Democrats want the state to chip in for homebuyers

https://www.sacbee.com/news/politics...#storylink=cpy

The state would serve as a “silent partner” to first-time owners, in exchange for up to 45% ownership of a house. By their calculation, that means someone eyeing a $400,000 home could buy it for “a more affordable price” of $220,000, with the state picking up the other $180,000.

It’s a glimpse into the alternate California liberal reality so extreme that even a liberal would find hard to believe. Pure entertainment and a source of ridicule for me.

Apparently, economics isn’t taught in the California state colleges. Housing is a supply problem. Amping up demand does not solve any problem. It creates bubbles and structured foreclosures.

Red states have land. They will feel the pain that was felt in Blue States 50 years ago. People moved out of the cities and developed farms. Zoning was created to preserve idyllic suburbia but in turn created a lack of housing for succeeding generations. Rent control and similar misguided liberal attempts to help ensued. There is a socio-economic cycle of life

State owned single family housing sounds like fun if you are Karl Marx. $180,000 subsidies is crazy town. However, this is not an isolated movement. Biden was gonna “give” $25-50k to first time buyers. This just drives up prices $25-50k. It does not solve supply. Another bubble is inevitable cause public policy cannot resist being stupid.

No lesson is ever learned. Not 2008 that’s for sure. We never should have kicked the can down the road.

The California punching bag always makes me feel better. Just keep that brand of stupid on the west coast.

i've wondered myself actually, is this a real 'housing-bubble' going on right now

And I myself was just in the market and buying a home here in South Florida and the way things were flying off the Market, hours not even days, was a little shocking at times. When I factor in things such as Florida being a huge retirement State, as well as having no State income tax, I seem to understand why it may have been so hot here in South Florida. When I think about this same scenario in other parts of the U.S., with the same logic. I cant view things with he same perspective. I really do think their is a bad 'Housing Bubble' going on currently, but completely not similar, to what happened in 2008 (Mortgage Backed Securities, and Predatory lending..).

It make no sense that our Government is literally pumping society with Trillions of dollars in free money, to survive in some cases, unemployment is high, and yet Houses are flying off the Market at the same time. Common sense tells you that this does not add up at all, what is currently going on. So yes, I do think their is currently a 'Housing Bubble' going on right now. Especially in other parts of the Country for sure. This is not at all the same situation that led to the housing bubble in 2008 thought, not even close. That was caused by predatory Mortgage Lending, and not what we currently have right now occurring. So this is not at all, anything like the 2008 Housing Bubble which was caused by unregulated markets, and predatory lending to basically anyone with a meh verifiable job could get a Mortgage back then, that is not at all what is currently happening.

I think what is happening is Societally people as a whole are becoming more into that whole, owning a home is the American Dream mentality again actually

[limitles]

Yup.

A perfect example of this is American colleges right now. As soon as government backed loans showed up, tuition skyrocketed into the hellhole where it is today.

Maybe you could get a government backed second mortgage now to pay for the kids college! Government at work!

College tuition is a huge scam. It has rocketed up at insane rates over the past 30 years, even at public state schools. You're exactly correct -- the government backed loans caused an unnatural inflation in tuition rates.

There is absolutely no reason that tuition in 2021 should be any higher than 1990, other than inflation-adjusted (which is only about 2x).

I attended UCSB from 1990-91 for $1800 for the entire year. Can you imagine, even if we double that to $3600 for 2021 dollars?

A big problem is that state colleges have their own budgets, so their goal is to raise money, not serve the public. If these were operating from a general state budget, where they don't reap direct rewards from higher tuition and nickel-and-diming students, then they wouldn't do this shit. So if the government is willing to back insane student loans, the colleges are happy to take it. As a side effect, parents paying for their kids' tuition also get fucked, even though loans don't even directly play into it.

I would love for this to be reformed, and for there to be some kind of oversight regarding in-state tuition for public colleges. The private colleges can obviously charge what they want, but they've been able to jack up rates because the public ones have jacked up theirs.

Agree with your college tuition take but that thinking applies to almost every aspect of your “Live Free or Die” bullshit mentality. You pay, you pay, you will always pay,. Let it run unabated and you’ll pay even more.

[splitthis]

HUD bitch is gunning for this for all blacks. Remember Clinton and his 8k towards a house? Oh ya, that imploded terribly . Will sit back and profit just like the last time. Lolz.

[splitthis]

Sell high….buy low, rinse and repeat the stupidities of the libs.