CA vs TX AFFORDABILITY.
| Metro | Income | Q2 2021 list price | Affordability ratio |
|---|---|---|---|
| Los Angeles | $82,350 | $1,072,203 | 13 |
| San Diego | $91,499 | $843,311 | 9.2 |
| San Jose, Calif. | $153,381 | $1,289,190 | 8.4 |
| San Francisco | $141,028 | $1,075,156 | 7.6 |
| Sacramento, Calif. | $78,882 | $595,058 | 7.5 |
| Riverside, Calif. | $74,225 | $523,861 | 7.1 |
| Austin, Texas | $87,327 | $517,010 | 5.9 |
| Dallas | $72,978 | $385,678 | 5.3 |
| Houston | $70,944 | $363,436 | 5.1 |
| San Antonio | $68,018 | $324,282 | 4.8 |
Homes have just become difficult to afford all over the USA. About 20 years ago, the ratio used to be around 6 for homes in SF bay area and 3 for homes in the rest of the USA (except for some very pricey areas) .
Point in my post was Bay Area people make less money adjusted for cost of living compared to texas cities.
Btw, all the 6 CA cities are at the top of the list in a list of 50 cities. Austin is at number 16, Dallas 24.
True and agree to your observation. What I am pointing to is national trend. The homes in Texas have become less affordable as well. Are people earning less and loosing purchasing power? The middle class squeeze is real. This is something not unique to California. Government (federal and state) budget is growing day by day as the wage earners and middle class people find they are getting lesser to even afford basics of the life.
The real problem is the cost of construction and land. Entitlement costs are going out of sight everywhere. Construction labor is skyrocketing along with materials. Cheap new housing does not exist anywhere anymore. And demand will increase substantially.
Maybe a homestead program could convince people to move back to abandoned housing in the Midwest.
https://www.propertyshark.com/homes/US/Cheap-Homes-For-Sale/OH/Cleveland.html
Mr. Newsom seems to realize the state’s high cost of living is becoming a political liability. Last week he asserted in an interview with the Sacramento Bee that “middle class families in Texas pay more taxes than middle class families in California,” adding “look that up. That’s a fact.”
We did and couldn’t corroborate his claim. Property tax rates are higher in Texas, but Texans still pay less in taxes because their housing values are much lower. Texas also has no income tax whereas a married couple in California making more than $117,000 pays a top marginal rate of 9.3%—more than millionaires in most states.By our calculations, an average married couple making $150,000 that owns a median-priced home in Texas would pay $11,839 less in income, sales and property tax than in California. They would also save much MORE on energy and housing costs.
The Los Angeles Times reported last year that it cost $531,000 on average to build a single unit of housing for a homeless person. The cost for one homeless housing project soared to $746,000 per unit after a neighboring shopping complex sued. The developer settled by agreeing to add various design features and an underground parking lot, but the litigation took four years. Now LA is setting up 8-by-8-foot sheds—the type you can buy for a couple of thousand dollars—for the homeless at a cost of $130,000 apiece.
Maybe he meant that a middle class family in California can receive a lot more handouts than in Texas like a first-time buyer’s assistance or even free everything for homeless?
And Newsom slept with his campaign managers wife. The politics of got ya for 20 year old views. The PC police help create the Trump movement. Let’s see what happens
Regardless of who sleeps with who, elections results are unlikely to change. After all, Mrs Clinton forgave Mr Clinton, if you recall the family drama of 1990es.
Anyway, for a prominent bay area politician it is said that she “slept her way up” into the politics.
California has the nation’s highest cost-of-living-adjusted poverty rate and one-third of the nation’s welfare recipients. In 2020, when home building increased 6.1 percent nationally, in California, where regulations have congealed construction, home building declined 3.7 percent. In Texas, the median price of a home is 3.5 times the state’s median household income; in California, it is almost 10 times. The median home price in San Antonio is $226,665; in LA, $898,692. The state has more than half the nation’s unsheltered homeless.
A Californian earning $58,000 annually pays a marginal tax rate double that of an Arizonan earning $500,000. California lost a net 70,000 residents in 2019, and in 2022, for the first time ever, it will lose a congressional seat. California’s native-born population has been declining since the 1990s. Migration from the state has increased every year but one since 2011. In the past decade, 687,000 Californians have moved to Texas.
We are sending our poor huddled masses to Texas?
"Give me your tired, your poor, Your huddled masses yearning to breathe free, The wretched refuse of your teeming shore.
Rise of California from the ashes will be remarkable should Newsom is replaced by Elder.
Newsom would have to be a prodigy of perversity to have made this mess more than slightly worse since 2018. He should be removed not because he is remarkable but because he is banal — a fungible cog in a typical blue state political machine.
Elder’s constituency consists of the dissatisfied. Newsom’s base, those government employees unions, are government lobbying itself to do what it wants to do: expand. Progressives want to discredit Elder, but because he is Black, their explanation of everything — “systemic racism” — is unhelpful.
He rose from South Central L.A. to Brown University and the University of Michigan Law School, practiced law and founded a search firm for attorneys, before finding his vocation: decanting into millions of listeners the thoughts derived from Friedrich Hayek, Milton Friedman, Thomas Sowell, Walter Williams, William F. Buckley Jr., Daniel Patrick Moynihan and others.
All GOP candidates are pro-Covid. That’s really all you need to know.
I am old enough to remember GOP used to stand for local control. Now it’s mainly an anti-science and anti-immigrant life brand.
Sounds very unreal. Sane investors do not pull a checkbook and write a check amounting 10M+ to an unknown dude who is playing on his macbook. That is not how venture funds operate as far as I know. Venture investment is not same as paying a $10 bill to small girl selling scout cookie door to door.
It’s GPT generated story not real. Check the name in LinkedIn post.
.
How do Alex know they are venture capitalists?
Where can you see a group of venture capitalists together?
Silicon Valley investors are deeply versed in bitcoins and metaverse. Of course that story is fake.