Posted on 05/06/2018 11:09:27 AM PDT by artichokegrower
Because that’s the way progressives want it.
My sister bought a home in San Jose in 1974 for $50,000, she just sold it for $ 1,375,000.
It is the number of fools per square mile that causes those sort of things “out there”.
It's a mixed bag, pros and cons. Once you move away, it becomes extremely hard to come back. We stuck around because of family, and the need to take care of elders and doing babysitting. Our property continually rose in value, which we own free and clear. If we were to move to another area, there would be a reset of property taxes.
Some of our siblings moved away from the city to get cheaper housing, but so did criminals and gangs and the cheaper locations are not ideal for living - but they can't come back because the prices here rise faster and higher than where they moved. Our oldest daughter moved to Iowa. She and her family will be visiting us this month and staying at our home while they visit friends - hotels and rentals are too expensive. Des Moines property is a fifth or less of property costs here, and is nice and safe. Other locations in the SF East Bay that are cheaper, are not so nice or safe.
H1B Visa immigration is up; illegal alien invasion is up.
Native conservative emigration is up.
Who knows. After the stock market crashed in 2008, it was business as usual in SF and the market rebounded to newer heights. SF does not rely on the stock market for it's existence.
Ever hear the saying "don't put all your eggs in one basket"? The economy is diverse here. It's not just computer tech. There is finance & banking, medical tech, shipping, manufacturing, educational institutions, robotics, etc. on and on. Any one of them fails, the others will keep the economy going. One of the biggest growing areas here is medical biotech. Whole neighborhoods have been created around new biotech centers. So it doesn't look like the economy shows any signs of slowing here. That's one of the main reasons for an influx of tech talent coming here (as well as homeless and illegals looking for a free ride).
Congrats to your sister on her investment paying off! That has got to be a nice house, as $50G in 1974 was a lot to pay back then. I remember houses were about half that back then. One of my sisters sold her San Jose home in the 1980s before the huge increase in prices, and missed out on the profits people are getting now. Timing was good for your sister.
Thanks. Yes it does.
Even if they never intend to use the house/property. wealthy ChiComs need a place to park their US dollars (safely out of the hands of their own government). This is a result of our trade imbalance for the last several decades; as US dollars flowed to Red China, those collecting it had nothing to spend it on over there.
Arabs are doing the same with petrodollars, buying Western sports franchises (and the 2022 World Cup, apparently).
Higher housing prices mean less dark-people.....Leftists are racist apparently.
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