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Seeing the Wealth Leave California, Firsthand

Posted by $ Abaco 6 years, 9 months ago to Economics
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This past weekend I went over the Sierra to visit my brother and dad in the Reno area. I’m the last family member left in California. As I’ve mentioned here, I’ve noticed the decline in California. The poverty is just creeping through previously nice areas. We’ve got the tent cities, boarded up houses, crime, etc. In my recent visits to the Reno area I couldn’t help but notice the construction. They are building new developments as fast as they can over there. The homes are being filled by Californians escaping our state. Being an engineer, I’ve noticed that the quality of the homes being built are much better than what was built around my area when we had our building boom in the 90s.
We are a golfing family so we are interested in communities with easy access to golf. The very old course, Washoe Golf Course, is in the SW corner of Reno with an older neighborhood built around it. A year ago, nice homes there could be had for $300K. Now, they’re around $500K – a huge increase in price is occurring as housing costs in “the World’s Biggest Little City” are actually now higher than what we find in our area in California. All this has been a little surprising to see.
But, the big surprise was Sunday when I took my family to watch the PGA Barracuda Championship at Montreux Golf Country Club in the hills south of Reno. I grew up in, arguably, the richest part of the S.F. Bay Area. But, I was shocked at the homes in Montreux. They were absolutely amazing. As we drove out my wife and kids asked me to drive around the community more just to look at the homes in that beautiful place in the pines. I felt like one of the Beverly Hillbillies driving through. I paid extra to park inside the community for the tournament and when the lady at gate greeted us on the way in I said, “Do you allow pickups in here?” and we all laughed. I think what I saw was clearly a representation of wealth that’s left California. It was really something. It’s not like the Reno area has a history of tons of high-paid employment opportunities. This is obviously wealth removed from California in order to keep it safe. It was really an eye-opening weekend…

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  • Posted by JuliBMe 6 years, 9 months ago in reply to this comment.
    I think that lefties are more attracted to government "service" and the people of the right don't even think that way. People of the right are more into productive pursuits. The left are born malcontent activists and they turn wherever they "serve" into hellholes. The normal people run to other states and don't even think that they should maybe get into government "service" too to stem the tide away from leftism.
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  • Posted by $ jbrenner 6 years, 9 months ago in reply to this comment.
    If you avoid being directly on the ocean, then flooding is no problem. Tropical Storm Fay dumped 27 inches on my yard several years ago. No one's home in my neighborhood was flooded, and the water drained as fast as it rained. Jacksonville is hotter in the summer and cooler in the winter than where I am just north of Melbourne. Last year's hurricane was within just a few miles, and there was nothing more than a few downed palm branches.
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  • Posted by evlwhtguy 6 years, 9 months ago in reply to this comment.
    I live in NC....we have been having Yankees move down here for decades....they often say things like..."Gee the taxes are sooooo low...just think of all the good things we could have if they were just a bit higher"....

    GO THE HELL BACK! If it was so frigging great up there why the hell did you leave?
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  • Posted by $ jbrenner 6 years, 9 months ago in reply to this comment.
    Tampa taxes are somewhat higher, and yours would probably be a little higher here too initially. Florida has a homestead exemption such that the maximum that your assessed home value can go up is only 3%. Consequently my assessed value is only about 3/4 of the real value.
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  • Posted by JuliBMe 6 years, 9 months ago in reply to this comment.
    I'm in California, too, and I've been looking at houses in the Jacksonville area (virtually). However, one thing that puts me off is the sea level. FLOOD is a very scary thought for me (earthquakes are NOTHING in comparison!) and I love little dogs, so alligators put me off a bit, too! :-) Convince me I'm wrong because I really would like to get out of CommieFornia for the humidity and sea/surf of Florida!
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  • Posted by Esceptico 6 years, 9 months ago
    Now, if we can just get California to leave the union and have CNN, MSNBC, et al, cover haw fast it, too, can become Venezuela.
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  • Posted by richrobinson 6 years, 9 months ago
    I keep expecting California to ask for a bailout. Not sure Trump will do that but they have to go bankrupt one of these days.
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  • Posted by wmiranda 6 years, 9 months ago
    As more people move into Reno, the attitudes will also change among the people, not much, but some. Let's hope the ill attitudes don't follow from California.
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  • Posted by Ben_C 6 years, 9 months ago
    The ultimate vote is with feet, not the ballot box. As M. Thatcher once said, "Socialism is great until you run out of other peoples money." The Forgotten Man is voting with his feet. .
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  • Posted by ProfChuck 6 years, 9 months ago
    Parasites have no concept of the future. Eventually they kill their host and then they die as well.
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  • Posted by Animal 6 years, 9 months ago in reply to this comment.
    Good. The sale value of our house in Colorado just keeps going up. In the next 2-4 years, hopefully right on the peak, Mrs. Animal and I will sell and bog off to Alaska, where we are already house-shopping.
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  • Posted by freedomforall 6 years, 9 months ago in reply to this comment.
    Thanks for the clarification, jb. My taxes in Tampa were that high back in 1981 on a value of $150k ;^)
    And I don't really mind the humidity most of the time. If I was to build a house this year in the US your area would be at or near the top of my list.
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  • Posted by $ jbrenner 6 years, 9 months ago in reply to this comment.
    Actually my property tax is only $2900 per year, less than 1% per year of my home's value. The high property taxes are in the People's Republic counties further south (with more humidity). The insurance is higher, around $5000 per year - more than the mortgage's principal and interest. Now the house is paid off.
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  • Posted by freedomforall 6 years, 9 months ago in reply to this comment.
    Answering my own Q:

    Trump won in:
    Phoenix
    Jacksonville FL
    Fort Worth
    Oklahoma City
    Tulsa
    Wichita
    Melbourne FL

    Hillary won in:
    Houston
    Dallas
    Atlanta
    El Paso
    Denver
    Salt Lake
    Miami
    Philadelphia
    Charleston SC
    Birmingham
    New Orleans
    New York
    Chicago
    Detroit
    Los Angeles
    San Francisco
    San Antonio
    San Diego
    San Jose
    Indianapolis
    Tampa-St Petersburg
    Cleveland
    Columbus OH
    Cincinnati
    Charlotte
    Raleigh
    Memphis
    Nashville
    Detroit
    Seattle
    Boston
    Baltimore
    Louisville
    Lexington KY
    Portland OR
    Las Vegas
    Milwaukee
    Albuquerque
    Tucson
    Kansas City
    St Louis
    Omaha
    Minneapolis
    Pittsburgh
    Orlando
    and the Dark Center
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  • Posted by freedomforall 6 years, 9 months ago in reply to this comment.
    Hitlery got 67% of the vote in Austin, TX (Travis County.) It's the state capital and has been statist for a long time. You couldn't pay me enough to live there (or Seattle or Portland or Lost Wages.)
    Did Hitlery lose the election in ANY big city?
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  • Posted by freedomforall 6 years, 9 months ago in reply to this comment.
    You get $200k discount on the homes because of the humidity ;^)
    That income tax discount is instead taken in property taxes.
    $300k still sounds expensive to me, jb.
    Even at todays low rates, the monthly payment will be between 1500 and 2000 per month (incl taxes and insurance.)
    Not "reasonable".
    Yes, Reno is much worse.
    The fed thinks its not a problem that the USD has lost 54% of its value in 30 years. They are wrong.
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  • Posted by $ Abaco 6 years, 9 months ago in reply to this comment.
    You are right. The very well off liberals in California seem to be staying here. They squat in the nice coastal areas. I see it all over there. A lot of people leaving are doing so because they don't fit in here...

    It's the idealistic, lefty lower-middle class export that you have to worry about. Haha! They'll show up in your town and really start meddling.
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  • Posted by Dobrien 6 years, 9 months ago in reply to this comment.
    Certainly a generalization, but the very well off in California aren't as affected by the decline in the state as the average producer trying to get well off.

    Plus the greater good of Altruism is a powerful draw socially.
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  • Posted by $ Abaco 6 years, 9 months ago in reply to this comment.
    I keep seeing this kind of comment, but am torn. I think a lot of them are good people who are escaping a failed state. I also acknowledge that the lefties are trying to infiltrate. They are certainly making headway in Nevada, in light of the laws being drafted there now. But, lefties don't just come from California.

    I'm reminded of when I lived in Seattle the last time. I'd hear somebody griping about how Californians were coming in a messing the place up. I'd ask, "Where are you from?" 9 times out of 10 is was, "Oh...California." Haha...
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  • Posted by $ jbrenner 6 years, 9 months ago
    East Central Florida golfing is extremely affordable, with homes around $300 K for 4 bedrooms. No state income tax either.
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  • Posted by $ Abaco 6 years, 9 months ago in reply to this comment.
    Yes, I've heard that quite a bit.

    The irony is that many working middle, and upper-middle class Californians have been leaving for a more affordable existence elsewhere. But, that's disappearing. Housing over the hill certainly costs more now than what our housing costs in my area of Cal. Parts of Colorado, ditto. Texas housing costs are rapidly climbing, and traffic in Austin is reportedly some of the worst in the nation. It reminds me of when I moved back to Seattle in 1990 right after college after spending much of my youth there. I didn't recognize the place and only lasted a couple years after returning to California for less-crowded places...Go figure.
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  • Posted by Dobrien 6 years, 9 months ago in reply to this comment.
    They are like an invasive species they might have a pretty flower when in bloom, but they only disguise the thorns.
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