Comments 1 - 34 of 34        Search these comments

1   anonymous   2013 Nov 9, 11:42am  

Just raise the minimum wage to $20/hr...that should fix it.

2   FortWayne   2013 Nov 9, 11:57am  

debyne says

Just raise the minimum wage to $20/hr...that should fix it.

With CA taxes, more like $30/hr

3   anonymous   2013 Nov 9, 12:04pm  

bgamall4 says

debyne says

Just raise the minimum wage to $20/hr...that should fix it.

Raising the minimum to more reasonable levels would help. So, what is your real solution since you are an every-man-for-himself kinda gal.

Well first off, I would cease all gov't subsidies and tax breaks for housing...they inflate prices higher than they should be and benefit the non-poor more. I believe all the tax breaks and subsidies also make housing into an investment haven for people instead of as a primary residence only, so it causes prices to inflate even more and, therefore, prices more people out of purchasing a home. Oh, and it would bring in more tax revenue too.

Other than that, CA will always be expensive because it's such a desirable place to live, so not sure there's much we can do about that. If we were to give the poor money to buy houses, then it would just create even more demand and drive prices even higher...it would be a pointless game in my opinion.

What do you think?

4   Vicente   2013 Nov 9, 12:06pm  

debyne says

What do you think?

Sounds good. Repeal Prop 13 & 58 as well.

5   anonymous   2013 Nov 9, 12:08pm  

Vicente says

debyne says

What do you think?

Sounds good. Repeal Prop 13 & 58 as well.

Oh totally...that too. Those two props need to be dumped big time.

6   anonymous   2013 Nov 9, 1:44pm  

bgamall4 says

if you price people out it becomes difficult to find workers for restaurants and small business who can afford to work in the high priced areas. If you then have a spike in oil prices you could really have a problem with this price issue. Some countries have to import guest workers and perhaps someday people will have to create housing allowances for their workers.

Yep. If the supply of labor drops to point where it is exceeded by demand, then employers will have to lift wages/benefits, whatever. I would really love to see what would happen to housing affordability if the tax breaks and subsidies were eliminated at both the federal and state levels. It's impossible to predict, but I would hope that prices would drop significantly.

7   anonymous   2013 Nov 9, 2:06pm  

bgamall4 says

debyne says

If the supply of labor drops to point where it is exceeded by demand, then employers will have to lift wages/benefits, whatever.

But at some point, it won't be worth it. The businesses will close and the rich bitches will have to drive forever to get their goods and services.

That may be the case, but I'm confident that the market would work itself out on its own and reach equilibrium if we don't mess with it. Plus, I don't worry one iota about the rich...they have Amazon and they can do their own nails. :)

8   thomaswong.1986   2013 Nov 9, 2:22pm  

Vicente says

Sounds good. Repeal Prop 13 & 58 as well.

congrats.. you finally figured out what prop 58 was about.

perhaps you might learn one day, schools were closed

not from Prop 13 but declining enrollment in all of California.

Dont blame prop 13 for high prices... it certainly didnt prevent prices from falling in the early 90

of even past recent years... nor has it limited new home development. Sine the past 15 years

new development/home has increased in California and will continue to do so.

You folks have yet to figure alternative method market values on prop tax levy..

and frankly the prior method was found not to work...

9   anonymous   2013 Nov 9, 2:28pm  

bgamall4 says

debyne says

but I'm confident that the market would work itself out on its own

Oh, you mean like the last housing bubble worked itself out and destroyed the middle class? With all due respect Debyne, do you sleep under a rock?

I said if you let the market work itself out if we don't mess with it. The housing bubble was not a free market with proper regulation...it was massively distorted by the gov't, the Fed, Wall Street, and all of the consumers who overextended themselves.

10   thomaswong.1986   2013 Nov 9, 2:33pm  

bgamall4 says

Oh, you mean like the last housing bubble worked itself out and destroyed the middle class?

never happed.. what you mean is higher prices lead to job loses...you

can see that both in SFBA and San Deigo (AeroSpace Industry)

11   thomaswong.1986   2013 Nov 9, 2:35pm  

bgamall4 says

And that will kill the banksters Wong. Declining population will destroy the banking model of sucking the life out of the middle class.

Hello .. the baby boomers ended their high schools years... hardly the end of the middle class..

12   John Bailo   2013 Nov 9, 2:41pm  

APOCALYPSEFUCK is Comptroller says

move to Detroit.

Seriously, this is the best and only answer.

13   thomaswong.1986   2013 Nov 9, 3:38pm  

bgamall4 says

That is precisely what happened, no one messed with the market. Repeal of Glass-Steagall and derivatives laws let the market work freely for the benefit of the robbers in the .1 percent.

Lack of regulation destroyed the middle class.

Congress created the SEC act of 1933/34.. yet near 60 years later of additional regulations.. did nothing to stop the speculations and loss of savings by the public by 2000 stock bubble.
so was it lack of regulations that creates bubbles.. clearly not !

at best regulation you can have is.... you should BAN everyone from buying homes and stock/bonds until they pass the basic finance test...they should carry a special card to id their knowledge in such matters. Just as a drivers license.

14   smaulgld   2013 Nov 9, 4:17pm  

And then there is Fed bubble induced twitter and it's newly rich employees biddng up SF home prices http://patrick.net/?p=1231812&c=1023427#comment-1023427

15   thomaswong.1986   2013 Nov 9, 4:28pm  

bgamall4 says

YOu live in a parallel universe Wong. Of course the repeal of Glass-Steagall and the Commodities Futures Modernization Act allowed the housing bubble. I am not talking about the stock market. I am talking about the housing market.

stock market/housing market/ beanie baby ... it doesnt matter.. speculation by the public is irrational. at this rate someone can actually sell the Brooklyn Bridge..after all Bridge prices never decline.

16   thomaswong.1986   2013 Nov 9, 4:36pm  

bgamall4 says

According to the FIRREA Act, it is against the law to lend money to someone who has not proven by financial statements that they can pay the loan back. Yet that is what happened in the bubble and W allowed it. Now the FIRREA Act is being used to claw back some of the fraud, but not most of the fraud profits.

tell that to your local Realtors...

17   thomaswong.1986   2013 Nov 9, 4:39pm  

bgamall4 says

But had W enforced that law, these easy loans would not have been made. If the other laws, Glass-Steagall and the commodities rules were in place the housing bubble would not have exploded.

the public went nuts over RE... legislation as such isnt going to help as
didnt SEC act 1933/34.... we have a hyped sugar laced RE addicted public.

18   upisdown   2013 Nov 10, 12:21am  

smaulgld says

Most Californians Can't Afford to Live in California!

Then how are they Californians then?

19   smaulgld   2013 Nov 10, 12:34am  

upisdown says

smaulgld says

Most Californians Can't Afford to Live in California!

Then how are they Californians then?

They borrow money or get subsidies. With out which they would be in the street or out of the state

20   anonymous   2013 Nov 10, 2:54am  

bgamall4 says

debyne says

if we don't mess with it

That is precisely what happened, no one messed with the market. Repeal of Glass-Steagall and derivatives laws let the market work freely for the benefit of the robbers in the .1 percent.

Lack of regulation destroyed the middle class.

Come on man...read my posts more carefully. I said a free market WITH REGULATION!! That means bringing back Glass Steagall among other things.

21   gsr   2013 Nov 10, 5:48am  

bgamall4 says

debyne says

I said a free market WITH REGULATION!! That means bringing back Glass Steagall among other things.

Ok, just making sure. :))

In order to have a real free market, we cannot have FDIC insurance without Glass Steagall. Otherwise, it is just a subsidy for big banks.

22   dunnross   2013 Nov 10, 6:05am  

debyne says

Oh totally...that too. Those two props need to be dumped big time.

Need to dump 193 too, or the children will kill the parents, just to get the property from the grandparents.

23   mmmarvel   2013 Nov 10, 6:23am  

debyne says

Yep. If the supply of labor drops to point where it is exceeded by demand, then employers will have to lift wages/benefits, whatever.

And when that goes up, then the products and services get more expensive. Fewer and fewer people can afford it, businesses go out of business, the jobs go and ...

There will always the very rich who don't care what the price is but the vast majority of us aren't in that boat. Don't know, but just raising the minimum wage clearly isn't the answer.

24   thomaswong.1986   2013 Nov 10, 6:27am  

bgamall4 says

Put bankers who ignore sound underwriting in jail because the fault lies with them, Wong.

wanna start with Govt officials and regulators who have been pushing lower underwriting standards.

http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html

Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

25   anonymous   2013 Nov 10, 9:25am  

mmmarvel says

debyne says

Yep. If the supply of labor drops to point where it is exceeded by demand, then employers will have to lift wages/benefits, whatever.

And when that goes up, then the products and services get more expensive. Fewer and fewer people can afford it, businesses go out of business, the jobs go and ...

There will always the very rich who don't care what the price is but the vast majority of us aren't in that boat. Don't know, but just raising the minimum wage clearly isn't the answer.

I wasn't advocating that in this post. I was saying that business/employers will have to raise wages to attract workers. Besides, so what if all the workers leave and the rich can't get labor...F 'em.

26   New Renter   2013 Nov 10, 10:10am  

debyne says

I wasn't advocating that in this post. I was saying that business/employers will have to raise wages to attract workers. Besides, so what if all the workers leave and the rich can't get labor...F 'em.

Nope! The rich will just lobby for more immigrants to be admitted "to do the jobs American's don't want to do".

27   pkennedy   2013 Nov 11, 12:46am  

Housing is where it is, because that's what people are willing to pay. It doesn't matter what props/subsidies are out there, housing will remain out of reach for people. Why? because it's desirable place to live, and people will bid up the land everywhere.

Removing subsidies or props will change the game for a few people, but over all it will remain the same. Housing will remain out of reach for those not putting every penny they have into it, because the ones who do own, are willing to do this.

If you're not willing to put every penny you have towards housing, then you need to move further out. As more people move in, that distance grows and grows. If you were a section8 subsidy, your rent isn't going to suddenly drop, it's going to go down a tiny bit and you'll be forced out, but to rent you'll have to move WAY out there, and someone from WAY out there, might be able to move a bit closer, as someone a bit closer moves into a place that someone a bit closer moved out of, to move into one of those closer section 8 houses.

28   mell   2013 Nov 11, 12:53am  

pkennedy says

If you're not willing to put every penny you have towards housing, then you need to move further out. As more people move in, that distance grows and grows. If you were a section8 subsidy, your rent isn't going to suddenly drop, it's going to go down a tiny bit and you'll be forced out, but to rent you'll have to move WAY out there, and someone from WAY out there, might be able to move a bit closer, as someone a bit closer moves into a place that someone a bit closer moved out of, to move into one of those closer section 8 houses.

Everybody is making predictions, I say let's see and get started with this, no matter where rents land, this would be a good step as there absolutely no reason why section 8 allowances for a single family home/apt are as high as the full rent we currently pay for a single family home in the same city of SF just 30 minutes away from the center by bike, muni or car.

29   hayleymarie   2013 Nov 11, 9:36am  

What do you think the mass confusion of Obamacare implementation will do to the California real estate market in the next few months? People are already being cancelled from their insurance companies, if their premiums skyrocket, how will this or the fear of it impact buyers?

30   anonymous   2013 Nov 11, 9:46am  

New Renter says

debyne says

I wasn't advocating that in this post. I was saying that business/employers will have to raise wages to attract workers. Besides, so what if all the workers leave and the rich can't get labor...F 'em.

Nope! The rich will just lobby for more immigrants to be admitted "to do the jobs American's don't want to do".

Maybe in the long run, but that does nothing for them in the short run.

31   bubblesitter   2013 Nov 11, 11:55pm  

Who cares about affordability? Just stay, democrats will help you stay here.

32   🎂 Tenpoundbass   2013 Nov 12, 12:00am  

Shooooot! I can't even afford to talk to a Californian.
Every time I do, they only dream up a new way I should be taxed or penalized.

33   bubblesitter   2013 Nov 12, 12:11am  

CaptainShuddup says

Shooooot! I can't even afford to talk to a Californian.

Every time I do, they only dream up a new way I should be taxed or penalized.

Kalifornia is a paradise. It is hard to afford a property here but if you do, it will fetch millions in future. Use that to buy your own retirement island any where else in the world!

34   Ceffer   2013 Nov 12, 3:16am  

CaptainShuddup says

Shooooot! I can't even afford to talk to a Californian.

Every time I do, they only dream up a new way I should be taxed or penalized.

It's all that Pacific sunshine and sea breeze that comes through over the phone wires and the internet. That's gonna cost you, bub!

The Beirut cocktail of urban congestion, polymorphous perverse ethnicity, destruction derby competitive chaos, assembly line freaks &homeless &druggies, dangerous gangs, smog and frustration are free!

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions