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with a change of government last year it has slowed a bit, and they have just banned all new research and drilling for oil which will effect us down the track,
we had high immigration for the last 5 - 10 years which has seen massive pressure on housing, and we are apprantly 100,000 houses short still, which is good for me as I am in that industry,
Also, many younger folks are living with parents until the age of 30, which I imagine would reduce demand.
Another thing to consider may be the mass migration when Boomers retire, as they may move somewhere less expensive to retain a similar standard of living when retired. If many want to sell high and leave an area all at once (such as So. Cal) that could create an abundance of supply all at once. And holy cow what if Social Security and Medicare have to reduce payments in the future to remain solvent. That could really affect housing.
I'm no expert but think demographic changes may hurt housing values in the future, come 2025 or so. The times, they are a changin'.
The Shop
Capital One had one program where they sent you a blank check that was good at your local dealer, but only for a new car. I know because I used the program back when I had shitty credit and left with a new truck, which I paid off. Interest rate wasn't bad either.
They know they can just re-pop the car if the loan goes bad, and they learned in the financial crisis that the government will step in if it all goes down. That's how our corporate welfare system works.
You haven't seen slackers until you come to California. My wife has this online friend who gave away her baby, doesn't work, lives with her Dad and spends all her time at group sex parties and doing drugs. She feels entitled to a check from the government to maintain this lifestyle- she actually said that. Another guy is really smart and I actually tried to hire him for something and he said he only does a certain kind of writing work that allows him to use his genius. These people have absolutely zero interest in earning a dollar. My brother is the same way- I have tried to pay him to do computer work but earning a dollar is against his religion. He gets a disability check and lives in poverty and that's good enough for him because he can sleep, drink coffee and surf the web all day. We are building a generation of slackers with the Internet.
I want to say I was blown away but not really. I moved out of OC a few years ago and that was one of the reasons.
I just did a quick google search but couldn't find the story online.
I am looking at options to buy right now as my guy want's 600k for my townhouse I'm in currently. Fun fun...
This year, the city wants to revamp and expand a downtown parking area, which butts up to the back of this old movie theater. So of course they need to demolish it to make this little pet project happen.
They actually proposed to buy the building back from the same guy who paid them $100 for it. He has told city council he will not sell it for any less than $10K. He has not made a single repair or improvement
This scenario sums up the competency level of our city leadership. How do you think our city economy is doing??
As far as work goes......it's been pretty good and strong the last 5 years or so. Especially the past two years I would think. I'm having to turn quite a bit of work down. But in my business , it's goes up and down. Can work 40-70hr weeks for months on end , then have a random 2 weeks off , or slow 20 hr weeks for a month or something.
Honestly.....it's kind of weird how it works. Coming out of the winter , I had like 3 weeks off and didn't work one day , as I didn't have anything. Then on one day , I got like 7 calls for jobs. Have no idea what sets people off all at the same time like that? Stocks maybe?
Pit Row
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