https://www.realclearpolitics.com/articl...43801.html

Joel Kotkin skewers his home state and the politics of the California Democratic party and ruling tech classes.

I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

wealth division was a gimme in corporate centers vs. rural during my existence...however, the net gain/loss becomes the same IF consumables remain on par across the contiguous.....

this is why choice in capitalism vs. location vs. da finga to muh econ profs received such....

There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

(07-27-2020 09:26 AM)stinkfist Wrote:  

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

wealth division was a gimme in corporate centers vs. rural during my existence...however, the net gain/loss becomes the same IF consumables remain on par across the contiguous.....

this is why choice in capitalism vs. location vs. da finga to muh econ profs received such....

The difference in a viable life and penury is the ability to produce your own commodities.

My great grandfather on my father's mother's side, owned over 400 acres part in woods, most in field, and some in orchards, with a very large pond. They had a couple of cows for milk, chickens, a smoke house and hogs. He had a well powered by a wind mill with a generator for a single refrigerator and two lights, one in the kitchen and one in the den. They had a radio in the den and a large bookcase. They were up before dawn, and read themselves to sleep at night, but they owed nothing to anyone and could sustain themselves without cash. They were considered by all around to be wealthy, but never drove anything costlier than a Chevrolet or a tractor.

Most debt and poverty comes from one of two things, choice of where to live, or refusal to be educated.

Both of my great grandparents lived into their 90's and my great grandmother gathered and grew plants which had medicinal properties and she made her own medications (something of course the government no longer allows), but I do have her identification and reference book for the plants.

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

with the boomers via capitalism, it's always been a simple numbers' game...China knows such too...

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

If you have a portable job and can work at home...you can easily find affordable housing. Just move out of the larger high income metros. The current housing bubble won't last so have patience.

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

Yup... happening in much of the country. Same thing in Upstate NY. Houses are getting multiple offers above asking the first day.

(07-27-2020 09:49 AM)TexanMark Wrote:  

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

Yup... happening in much of the country. Same thing in Upstate NY. Houses are getting multiple offers above asking the first day.

I heard mortgage rates had dropped to 2.98% the other day. Unreal.

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

You sound a lot like a capitalist to me.

(07-27-2020 09:43 AM)JRsec Wrote:  

(07-27-2020 09:26 AM)stinkfist Wrote:  

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

wealth division was a gimme in corporate centers vs. rural during my existence...however, the net gain/loss becomes the same IF consumables remain on par across the contiguous.....

this is why choice in capitalism vs. location vs. da finga to muh econ profs received such....

The difference in a viable life and penury is the ability to produce your own commodities.

My great grandfather on my father's mother's side, owned over 400 acres part in woods, most in field, and some in orchards, with a very large pond. They had a couple of cows for milk, chickens, a smoke house and hogs. He had a well powered by a wind mill with a generator for a single refrigerator and two lights, one in the kitchen and one in the den. They had a radio in the den and a large bookcase. They were up before dawn, and read themselves to sleep at night, but they owed nothing to anyone and could sustain themselves without cash. They were considered by all around to be wealthy, but never drove anything costlier than Chevrolet or a tractor.

Most debt and poverty comes from one of two things, choice of where to live, or refusal to be educated.

Both of my great grandparents lived into their 90's and my great grandmother gathered and grew plants which had medicinal properties and she made her own medications (something of course the government no longer allows), but I do have here identification and reference book for the plants.

how can I not love this post...wisdom is lost upon the tech-tonic-platelets...

fwiw, both grandmothers were from the same 'cloth'...one passed from dementia; the other full blown alzheimers..both late 80's...

it's a dayum curse as I deal with pops and his parkinsons...

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

I’m not sure what your situation is but real estate is on fire...money is almost free, young people are making more than they expected, and every market I am in, I see people in their 20’s buying stupid nice homes as their first home.

Gone are the days of buying a crappy 70k starter home and busting your ass for years to rehab to earn equity for the next step up home.

(07-27-2020 09:51 AM)bullet Wrote:  

(07-27-2020 09:49 AM)TexanMark Wrote:  

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

Yup... happening in much of the country. Same thing in Upstate NY. Houses are getting multiple offers above asking the first day.

I heard mortgage rates had dropped to 2.98% the other day. Unreal.

told ya moons ago why protecting the USD and why deflation was a'cummin runnin' down a gold toofuses...

welcome to H-E-doubble hockey sticks....

(07-27-2020 09:58 AM)rath v2.0 Wrote:  

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

I’m not sure what your situation is but real estate is on fire...money is almost free, young people are making more than they expected, and every market I am in, I see people in their 20’s buying stupid nice homes as their first home.

Gone are the days of buying a crappy 70k starter home and busting your ass for years to rehab to earn equity for the next step up home.

sweat equity is still breathing....I can attest in 'change'...

the problem to solve are the many w/o capacity....

told ya guys moons ago.......I know the game and how it's ginned...

it's become XACLY! as anticipated.....ref: sig line 1b)

(07-27-2020 09:58 AM)rath v2.0 Wrote:  

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

I’m not sure what your situation is but real estate is on fire...money is almost free, young people are making more than they expected, and every market I am in, I see people in their 20’s buying stupid nice homes as their first home.

Gone are the days of buying a crappy 70k starter home and busting your ass for years to rehab to earn equity for the next step up home.

Everything moves in cycles. Interest rates will rise again at some point in the future. Also, those stupidly expensive homes will still have stupidly expensive taxes. More likely than not, the young people doing this will inevitably find themselves underwater and may bitterly regret buying the big house in a red hot market if they have to sell later out of necessity to move for a new job plus having a large fixed cost that will always be present with the property taxes.

(07-27-2020 10:00 AM)stinkfist Wrote:  

(07-27-2020 09:51 AM)bullet Wrote:  

(07-27-2020 09:49 AM)TexanMark Wrote:  

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

Yup... happening in much of the country. Same thing in Upstate NY. Houses are getting multiple offers above asking the first day.

I heard mortgage rates had dropped to 2.98% the other day. Unreal.

told ya moons ago why protecting the USD and why deflation was a'cummin runnin' down a gold toofuses...

welcome to H-E-doubble hockey sticks....

Stink we are about to be whipsawed. Goods are coming down somewhat right now and with them interest rates because a portion of our economy is based upon credit, which most are not using. Heck the public hasn't been buying autos at their old rate of consumption in nearly 20 years now. It's getting to be damn near like Cuba. Renting and leasing are up but how stupid is that? There is no savings among the middle class.

But last night on the European exchange gold almost hit 2000 an ounce and silver was over 24 for the same. Metals are, have been, and will always be, an inflation hedge. If we were headed for a deflationary depression gold and silver would be falling. What is under attack with the stimulus and GDP halfway shut down is the value of the dollar and for those familiar with China's war plan for the United States which our intelligence community got from the Beijing War College in the early 90's the viral attack was designed to shut down the economy more than to kill.

The Chicoms want to destabilize the dollar to the extent it can be replaced as the World Reserve Currency. I posted that here several years ago now and got a meh? What's about to hit us is the cost of commodities will rise to follow precious metals and food costs could triple. Gold has inflated over the last 2 years almost 30% and silver has nearly doubled.

Inflation is here and is hidden by other events as surely as driving rain and darkness hides a tornado.

When interest rates are flat and property values are low, but employment opportunities are suppressed and savings are meager, as they are now, the super wealthy are about to have an orgy of buying real estate.

(07-27-2020 10:10 AM)JRsec Wrote:  

(07-27-2020 10:00 AM)stinkfist Wrote:  

(07-27-2020 09:51 AM)bullet Wrote:  

(07-27-2020 09:49 AM)TexanMark Wrote:  

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

Yup... happening in much of the country. Same thing in Upstate NY. Houses are getting multiple offers above asking the first day.

I heard mortgage rates had dropped to 2.98% the other day. Unreal.

told ya moons ago why protecting the USD and why deflation was a'cummin runnin' down a gold toofuses...

welcome to H-E-doubble hockey sticks....

Stink we are about to be whipsawed. Goods are coming down somewhat right now and with them interest rates because a portion of our economy is based upon credit, which most are not using. Heck the public hasn't been buying autos at their old rate of consumption in nearly 20 years now. It's getting to be damn near like Cuba. Renting and leasing are up but how stupid is that? There is no savings among the middle class.

But last night on the European exchange gold almost hit 2000 an ounce and silver was over 24 for the same. Metals are, have been, and will always be, an inflation hedge. If we were headed for a deflationary depression gold and silver would be falling. What is under attack with the stimulus and GDP halfway shut down is the value of the dollar and for those familiar with China's war plan for the United States which our intelligence community got from the Beijing War College in the early 90's the viral attack was designed to shut down the economy more than to kill.

The Chicoms want to destabilize the dollar to the extent it can be replaced as the World Reserve Currency. I posted that here several years ago now and got a meh? What's about to hit us is the cost of commodities will rise to follow precious metals and food costs could triple. Gold has inflated over the last 2 years almost 30% and silver has nearly doubled.

Inflation is here and is hidden by other events as surely as driving rain and darkness hides a tornado.

my fave inflation joke in /sarc.....can I carve a portion off this bar and are your scales 'weighted'...

you see what I see....when the measurable is in flux, then what does that measurable mean in scope, Ja?!!!

(07-27-2020 09:51 AM)bullet Wrote:  

(07-27-2020 09:49 AM)TexanMark Wrote:  

(07-27-2020 09:38 AM)CardinalJim Wrote:  There is a housing shortage here in Louisville. While property values have risen homes are still quite affordable if you can get it. My last home sold in 4 days. The one I am in now was on the market less than 8 hours before the seller accepted my offer.

Since our kids are all grown now, and have their own homes, we downsized from a Three floor 5 bedroom 3 bath on a large wooded at 162K to a 3 Bedroom 1 bath with and in ground pool for 95K.

I know firsthand the struggles of owning property in California. I rented a 2 bedroom 2 bath apartment for $2150 a month in Huntington Beach nearly a decade ago. One of the many reasons I finally decided to come home.

Yup... happening in much of the country. Same thing in Upstate NY. Houses are getting multiple offers above asking the first day.

I heard mortgage rates had dropped to 2.98% the other day. Unreal.

I bought my first home in 1992. I can remember wanting to get locked in at 5.9 before Clinton was inaugurated...lol
Good Times

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

Guess what bud.. You won't be able to if Socialism takes hold.

(07-27-2020 09:15 AM)b0ndsj0ns Wrote:  I think he's exactly right that the property owning middle class is shrinking and income inequality continues to grow exponentially, but I don't see anything in there offering much by the way of a solution. Young people like myself can't afford to buy a home anywhere. He mentions Raleigh/Durham and while housing isn't as high here as it is in Cali I still pay almost $1,100 a month for a 1 bedroom apartment and my goal is to maybe be able to own a home before the age of 40 (I'm 33 now).

There isn't one. If you read between the lines, he's saying this is what happens when the technocrats establish a single-party system. You get all of the elitist cruelty of the Republicans without a sense of libertarianism to hold them back. Export the dissatisfied to other states (where if Colorado and Texas are any indication, they'll vote like Californians and create other technocracies) and import workers from abroad with no skin in the game or expectations of a better quality of life.

I think it should be a cautionary tale for other states to blow up the party system before the party system blows up their state, but good luck finding any sort of will to do so.