MSN today has an article concerning the real estate market across the nation, using results originally published in Forbes magazine. It states that, according to a number of factors, the 10 most overpriced markets in the country include five cities here in California. That’s 50 percent of the worst places to buy a home if you don’t want to feel ripped off. The cities in California that made the list are San Diego, at number 1, where only 5% of the current population could afford a median home. Next is Sacramento, at number 3, followed by San Francisco at number 4, Los Angeles at number 8, and finally San Jose at number 10. It is apparent to everyone in this state that something very wrong is occurring. Not only are houses being priced out of many people’s reach, those who do own find that their vastly bloated house values have produced other bloating as well. Some of the people whose houses have inflated by a factor of 2 or 3 in the last 10 years have suddenly decided they have come into wealth, and behave as though they have become part of the gentry. They just don’t get that, it’s an eminence front [Thank you, Pete Townsend!]
What can be done? If I listened to my children, aged 12 and 17 by the way, I’d act like Jed Clampett, and pack up the family to make a dash for Canada. It is sad to see that minds so young have an outlook that allows for this. When I was 17, I could think of nowhere I would rather live than California, in these United States. I do have to admit they have a much more dismal view because it is, for the most part much less of a ‘postcard’ existence that we now have here.
Life in California has changed so much in the time I’ve been alive. There are too many more people, too much pollution in the air, too much heat trapped under the greenhouse gas, and not enough places to escape to for small relief.
The ‘average’ numbers, however, tell a different story. According to the census, the mean population density is not really high. This sounds fine until you realize how large the Mojave Desert is, and how it brings that calculation down. The bright side is, if you can stand the possibly 130 degree heat of summer, the Mojave Desert has some of the cleanest air in all of California. Land seems to be pretty inexpensive, too.
Still, I don’t think that part of the state will be seeing a population surge any time soon. Perhaps it’s time for many of us to reverse the thoughts attributed to Horace Greeley, and “Go east, young man!”
[tags]California real estate, real estate market[/tags]