CA home prices still increasing?

[DonTom]

People are leaving CA in large numbers, so why are the house price tags still breaking records?

"For the first time in California history, the average price for a home is above $900,000. "

See here.

-Don- Reno, NV

 

[Tulecreeper]

They must be averaging the homes only in LA, SF, Sac, and SD.

 

[Skookum]

CA Desert communities are taking a hit. People bought the place up during the pandemic and went wild with turning homes into Air BnB's, then a bunch of the desert cities limited and put restrictions on airB's. It's starting to tank prices which for a guy like me who would like a vacation home out there....I think they'll fall to below 2020 levels again, and that will be a good time to jump in.

 

[DonTom]

They must be averaging the homes only in LA, SF, Sac, and SD.

It is supposed to be a CA average. However, since most houses are in the LA area and the most expensive houses are in the SF Bay area, that greatly effects the average outcome.

LA population:4 million. San Francisco population:8.74K (less than a million).

But . . . .

Greater Los Angeles area population:~18.6 million.
Bay Area:~8 million (total=26.6 million).

CA population:39 million.

Average LA area house pricetag:1.2 million bucks.

Average SF Bay Area house pricetag:1.4 million bucks.

So the cheaper CA areas won't make a big difference to the average or median CA house prices.

I think the fact that many from CA are leaving, has NO effect on the house prices. Those are mostly those who cannot afford CA leaving the ones behind who can afford it and these could be moving within CA jacking up CA prices. And a lot of foreign money too, I assume, especially for SF, such as many of the rich investors from Hong Kong.

Bottom line is people moving out of CA has little or no effect on the CA home prices.

-Don- Reno, NV

 

[thefid]

Not enough people are moving to make a big difference and I would add that higher interest rates are preventing more people from moving. If the interest rates drop, more people will move and I imagine it would be a quick dive when enough people decide to move all at once. Kind of like the 2007-2008 market crash. Banks were concerned in 2007, it didn't become popular until last half of 2008 and that was the worst time to sell.

 

[Arch Hoagland]

Rate of people leaving California falls as state's population grows for the first time in years

Unfortunately they are moving back.

 

[DonTom]

Unfortunately they are moving back.

That is the first I heard about that.

Looks like the big CA exodus didn't last all that long.

-Don- Reno, NV

 

[Tom]

That is the first I heard about that.

Looks like the big CA exodus didn't last all that long.

-Don- Reno, NV

I heard about 'the great CA exodus' on my first visit to the Bay area in the '70s. That's when large areas of the South/East Bay were still largely farms and orchards. I used to drive past fields full of pickers on my way to work every morning in the early '80s. Tough to find undeveloped land in those areas nowadays. This has been repeated throughout the East bay and into the San Joaquin valley.

 

[Tulecreeper]

Rate of people leaving California falls as state's population grows for the first time in years

Unfortunately they are moving back.

That is the first I heard about that.

Looks like the big CA exodus didn't last all that long.

-Don- Reno, NV

Not to get into a political discussion past where we're at, but they are counting people that, uh, don't belong there legally. So the rate of people leaving isn't falling, it's the population of those other folks rising that is outnumbering those bailing out. Because they can crunch the numbers any way they want to get the desired results.

 

[Tom]

... they are counting people that, uh, don't belong there legally.

As someone who jumped through hoops and came here legally, I don't understand how undocumented people get counted in a census.

 

[Tulecreeper]

As someone who jumped through hoops and came here legally, I don't understand how undocumented people get counted in a census.

As did my mother and a number of friends of ours.

 

[DonTom]

As someone who jumped through hoops and came here legally, I don't understand how undocumented people get counted in a census.

I wonder how they are being counted in-between the census counts.

-Don- Reno, NV

 

[SC5thWheeler]

I was stationed at NAS Moffett Field in the 90s just as it was being shut down. It was just outside of the "murder capital of the US", East Palo Alto. This was after I spent 6 months at Mather AFB in Sacramento when it was also being closed.

Different strokes and all that, but y'all can keep it.

 

[DonTom]

"murder capital of the US", East Palo Alto.

And right across the freeway from EPA is Atherton. There, you could find a house as cheap as around 8 million, if you can find one for sale.

I lived close to that area for most of my life, San Mateo, Belmont, etc.

But we were way too poor for Atherton and way too rich for EPA.

-Don- Reno, NV

 

[SC5thWheeler]

And right across the freeway from EPA is Atherton. There, you could find a house as cheap as around 8 million, if you can find one for sale.

I lived close to that area for most of my life, San Mateo, Belmont, etc.

But we were way too poor for Atherton and way too rich for EPA.

-Don- Reno, NV

I don't remember that town specifically but I remember noticing that you can be in a swanky area one minute and then "bars on the liquor store windows" area on the other side of the tracks.

 

[Oldgator73]

As someone who jumped through hoops and came here legally, I don't understand how undocumented people get counted in a census.

They are counted in the household. When we fill out the census form or interviewed by a census taker we are asked to count everyone in the household. Some folks include undocumented friends or family some don’t. The census is just a good or sometimes not so good estimate.

 

[Onyrlef]

Not to get into a political discussion past where we're at, but they are counting people that, uh, don't belong there legally. So the rate of people leaving isn't falling, it's the population of those other folks rising that is outnumbering those bailing out. Because they can crunch the numbers any way they want to get the desired results.

Uh then, go round them all up and deport the lot. When crops are rotting in the fields and on the trees and you're paying $20.00 for a head of lettuce, crunch those numbers. I don't see them doing anything around here but working their asses off from daylight to dark trying to do the best they can for their families.

 

[Skookum]

Not to get into a political discussion past where we're at, but they are counting people that, uh, don't belong there legally. So the rate of people leaving isn't falling, it's the population of those other folks rising that is outnumbering those bailing out. Because they can crunch the numbers any way they want to get the desired results.

And you know this and have the data, because?

 

[Oldgator73]

Uh then, go round them all up and deport the lot. When crops are rotting in the fields and on the trees and you're paying $20.00 for a head of lettuce, crunch those numbers. I don't see them doing anything around here but working their asses off from daylight to dark trying to do the best they can for their families.

All those rapists and murderers sneaking across the border are taking jobs away from law abiding Americans.

 

[garyb1st]

And you know this and have the data, because?

We don't need no stinking data.