Communist California Sets Economic Growth Record. Budget SURPLUS hits $75 billion

DrHoops

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bc those figures are illusory to the quality of life of most people when the difference between median home prices and income is so pronounced.
So, with people leaving "in droves", as you say, shouldn't real estate prices also decline? Kinda simple economics, right? Doesn't seem to be happening, since it was only Q4 2020 that the population of California dropped.

Supply and demand and all that stuff.
 

mcmurtry66

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So, with people leaving "in droves", as you say, shouldn't real estate prices also decline? Kinda simple economics, right? Doesn't seem to be happening, since it was only Q4 2020 that the population of California dropped.

Supply and demand and all that stuff.
droves could be relative. maybe millions more need to leave before it abates. i don't know. and it's not just about population drop; it's about decline in growth.
 

DrHoops

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bc those figures are illusory to the quality of life of most people when the difference between median home prices and income is so pronounced. then you wanted to compare states and population movements. we can do that very simply but you don't want to now i guess.

the truth of the matter is ny and calif are losing population to tx and fla because tx and fla offer no state income tax and cheap land. and unless and until ny and calif sort those issues it will continue to be the case and tx and fla will continue to gain greater representation.

i'm glad the economy in calif is growing. it's by far my favorite state. that doesn't negate what i wrote.
From the LA Times article:

But in San Francisco, he said, the implications have been “a little more interesting.”
“With people leaving, we’ve seen rents going down pretty dramatically,” he said. “If rents go down in the commercial and residential sector, we may see businesses trying to take advantage of that.”
 

mcmurtry66

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From the LA Times article:

But in San Francisco, he said, the implications have been “a little more interesting.”
“With people leaving, we’ve seen rents going down pretty dramatically,” he said. “If rents go down in the commercial and residential sector, we may see businesses trying to take advantage of that.”
It'll be interesting to see. i'm going to watch euros now. hey doc we argued for 20 minutes with no flying **** yous. we're doing good brother lol
 

DrHoops

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droves could be relative. maybe millions more need to leave before it abates. i don't know. and it's not just about population drop; it's about decline in growth.
But their economic growth is huge compared with any other state....and every other country except China. Household income is growing faster in California, by far, than any other states.

Better jobs, more money, beautiful state, better culture, everything.
 

ButHerEmails

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California added 1.3 million jobs, as much as Texas and New York combined. Household income in California increased as much as Florida, Texas, and Pennsylvania combined. Corporate credits in California rose more than corporate bonds in any other state. Cal's GDP growth was almost double Texas (21% to Texas' 12%).

California's growth vs. world economies trailed only trailed China since 2015. 29% in China vs. 22% in California. The U.S. grew at 18%, Japan 16%, and Germany grew 15%.

California is, by far the leader in manufacturing job creation. 40% more manufacturing job growth than in Texas. In 2020, $40.2 billion came from agriculture, forestry and hunting....more than the next five largest states (Iowa, Washington, Illinois, Texas and Nebraska) combined. California is the No. 1 US state for global trade. Growth in California's LA and Long Beach ports grew faster than any US state for the first time since 2012.

Small business growth: Of the more than 350 California companies included in the Russell 2000 (US small-caps) California's small caps grew 39% the past two years and 85% since 2016. That crushes the index by 34% and 67%. Small cap revenue growth was 56% since 2015 vs the index at 34%.

In 2020, 50% of US VC funding went to California. That's double the combined share of the next three states (New York, Massachusetts, and Texas). Of the ~750 VC rounds or IPOs greater than $1 billion, 494 have been in California. San Francisco alone has more than Texas and Florida combined. Tech companies in California grew 80% during 2020 in the middle of a recession.

Gee...I guess those nutty commies out west are doing something right.




https://www.bloomberg.com/opinion/articles/2021-06-14/california-defies-doom-with-no-1-u-s-economy

But I heard California’s population was dwindling rapidly. Apparently the 39 million people who still live there didn’t get the memo. Someone should tell them everyone is leaving.
 
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ButHerEmails

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So, with people leaving "in droves", as you say, shouldn't real estate prices also decline? Kinda simple economics, right? Doesn't seem to be happening, since it was only Q4 2020 that the population of California dropped.

Supply and demand and all that stuff.
Real estate prices aren’t declining because real estate in California is in demand. All these free market pubs here should understand that. You can’t ask high prices (and get people to pay those high prices) if you’re selling something no one wants. FL and TX may have cheaper land (I’ll assume they do for the sake of argument) but like anything else, that will only be until the demand outpaces the supply.
 
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mcmurtry66

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But I heard California’s population was dwindling rapidly. Apparently the 39 million people who still live there didn’t get the memo. Someone should tell them everyone is leaving.
Hyperbole. Always helpful. Never heard dwindling rapidly. Although it lost a seat for the first time in history
 

DrHoops

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Real estate prices aren’t declining because real estate in California is in demand. All these free market pubs here should understand that. You can’t ask high prices (and get people to pay those high prices) if you’re selling something no one wants. FL and TX may have cheaper land (I’ll assume they do for the sake of argument) but like anything else, that will only be until the demand outpaces the supply.

It's kinda like everything else that Republicans believe. Some "gut feeling" they have. Trickle down economics will actually trickle down. Gay marriage will destroy heterosexual marriages. Brown people will destroy American "culture". "Freedom" means my right to make other people sick and die! Christians are the victims because we can't put a 10 Commandments statue in the courthouse. Statues of Nathan B. Forest, the founder of the KKK is history!

It goes on and on. Very weird stuff.
 

mcmurtry66

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But their economic growth is huge compared with any other state....and every other country except China. Household income is growing faster in California, by far, than any other states.

Better jobs, more money, beautiful state, better culture, everything.

For sure. If you’re well off. Read state initiatives on fractional interests and that’s reality for millions. The contrast in Household income and home prices is marked
 

DrHoops

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For sure. If you’re well off. Read state initiatives on fractional interests and that’s reality for millions. The contrast in Household income and home prices is marked
I read it. Sounds pretty weird. I'm going to have to read more about that. But there will come a time when wages won't support home prices. "The invisible hand". Just like 2008.
 

CO. Hoosier

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Real estate prices aren’t declining because real estate in California is in demand. All these free market pubs here should understand that. You can’t ask high prices (and get people to pay those high prices) if you’re selling something no one wants. FL and TX may have cheaper land (I’ll assume they do for the sake of argument) but like anything else, that will only be until the demand outpaces the supply.
Not exactly.
 

mcmurtry66

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I read it. Sounds pretty weird. I'm going to have to read more about that. But there will come a time when wages won't support home prices. "The invisible hand". Just like 2008.
calif is a spectacular place. i had a soccer scholarship to ucla but got denied admissions. it was my first choice. then after law school and spending a summer in san fran i blanketed san fran with my resume. i had offers from multiple firms in chicago fla, all over the east coast, and i didn't even get a single reply from a firm in san fran. it was like i just took my resumes and deposited them in the garbage. twice i tried hard to get out there to no avail. it's a super special place but again imo takes money to live the california dream
 

DrHoops

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Real estate prices aren’t declining because real estate in California is in demand. All these free market pubs here should understand that. You can’t ask high prices (and get people to pay those high prices) if you’re selling something no one wants. FL and TX may have cheaper land (I’ll assume they do for the sake of argument) but like anything else, that will only be until the demand outpaces the supply.
business-commerce-bankrupt-court-money-finances-financially-rjo1075_low.jpg
 

Marvin the Martian

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bc those figures are illusory to the quality of life of most people when the difference between median home prices and income is so pronounced. then you wanted to compare states and population movements. we can do that very simply but you don't want to now i guess.

the truth of the matter is ny and calif are losing population to tx and fla because tx and fla offer no state income tax and cheap land. and unless and until ny and calif sort those issues it will continue to be the case and tx and fla will continue to gain greater representation.

i'm glad the economy in calif is growing. it's by far my favorite state. that doesn't negate what i wrote.
Imagine if California had cheap land? They already have severe water and fire problems, unrestrained growth would be a major disaster. Something Texas is discovering.

The high land values are a problem but it is a better problem than no water.
 
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UncleMark

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i had a soccer scholarship to ucla but got denied admissions. it was my first choice. then after law school and spending a summer in san fran i blanketed san fran with my resume. i had offers from multiple firms in chicago fla, all over the east coast, and i didn't even get a single reply from a firm in san fran. it was like i just took my resumes and deposited them in the garbage. twice i tried hard to get out there to no avail.
So you hate CA because they don't want to have anything to do with you. Have I got that right?
 

CO. Hoosier

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For sure. If you’re well off. Read state initiatives on fractional interests and that’s reality for millions. The contrast in Household income and home prices is marked
California has the best weather and most spectacular scenery in the Western Hemisphere. It has unparalleled access to international shipping , has an ideal climate for AG production, has abundant natural resources, and WWII left it with a thriving defense/tech industry. In short. California should be a national leader in all things economic. It also is a national leader in poverty rates and income inequality. It used to be better. Its economy is in no way a tribute to its politics.
 

mcmurtry66

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California has the best weather and most spectacular scenery in the Western Hemisphere. It has unparalleled access to international shipping , has an ideal climate for AG production, has abundant natural resources, and WWII left it with a thriving defense/tech industry. In short. California should be a national leader in all things economic. It also is a national leader in poverty rates and income inequality. It used to be better. Its economy is in no way a tribute to its politics.
for sure. guns, germs, and steel
 

ButHerEmails

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Hyperbole. Always helpful. Never heard dwindling rapidly. Although it lost a seat for the first time in history
Although they gained 2 million people since the last census. But when you already have 37 million, who’s going to notice another 2 million.
 

CO. Hoosier

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for sure. guns, germs, and steel
As a side note, Nancy Pelosi is so concerned about economic inequality that she announced a select house committee to study the issue and report to congress. Hell, all Pelosi needs to do is get out of her government-funded private jet and spend a day in a 50 mile radius of her California home and she would find out all the information she needs. It's all there in California.

When a government official whose monthly outgo for for hair salons and botox will feed a family of 4 for a month needs a committee to study wealth inequality, we have a real problem.
 
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mcmurtry66

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Although they gained 2 million people since the last census. But when you already have 37 million, who’s going to notice another 2 million.
But a new analysis from the Public Policy Institute of California says the state remains as attractive as ever for the well-off. It’s people in the working and middle classes who are leaving, largely due to high housing and other costs. “In the past five years the flow of middle-income residents out of the state has accelerated,” wrote Hans Johnson, a demographer with the institute.

internationals come and wealthy americans come while the middle and lower class leave. as a butheremails i'd think the latter folks would be your chief concern
 

ButHerEmails

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But a new analysis from the Public Policy Institute of California says the state remains as attractive as ever for the well-off. It’s people in the working and middle classes who are leaving, largely due to high housing and other costs. “In the past five years the flow of middle-income residents out of the state has accelerated,” wrote Hans Johnson, a demographer with the institute.

as a butheremails i'd think these folks would be your chief concern
So now you want to turn this into a class warfare issue. People live where prices match what they are willing and able to pay. This is called demand. It’s how the holy free market works.
 

mcmurtry66

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So now you want to turn this into a class warfare issue. People live where prices match what they are willing and able to pay. This is called demand. It’s how the holy free market works.
isn't htat what we're doing with the current admin? class warfare? did you miss the memo?
 

DrHoops

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California has the best weather and most spectacular scenery in the Western Hemisphere. It has unparalleled access to international shipping , has an ideal climate for AG production, has abundant natural resources, and WWII left it with a thriving defense/tech industry. In short. California should be a national leader in all things economic. It also is a national leader in poverty rates and income inequality. It used to be better. Its economy is in no way a tribute to its politics.
Except for the fact that what you're saying isn't true. California is 26th in the US in poverty rate.


For income inequality you're closer. California ranks 4th behind Louisiana, New York, and Connecticut.


I'm not sure what California can do better. There are a lot of super rich people there, but California is ranked 7th in the nation for middle class tax friendliness.


I'm confused as to what you want California to do differently than they are currently.
 

The Vid

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Maybe we should just create one pinned thread entitled:

“Old Goobers Complaining about Cool States and Cities”

These treads are hilarious. People living in shitholes like St. Louis and small town Indiana are furious! Portlandia is on fire! Raaaaaaaa!!!!!!
 
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DrHoops

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But a new analysis from the Public Policy Institute of California says the state remains as attractive as ever for the well-off. It’s people in the working and middle classes who are leaving, largely due to high housing and other costs. “In the past five years the flow of middle-income residents out of the state has accelerated,” wrote Hans Johnson, a demographer with the institute.

internationals come and wealthy americans come while the middle and lower class leave. as a butheremails i'd think the latter folks would be your chief concern
International immigrants has fallen every year since 2017.

"Walter Schwarm, a demographer with the state Department of Finance, said California’s net increase from international immigration has fallen every year since 2017."

 

DrHoops

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But a new analysis from the Public Policy Institute of California says the state remains as attractive as ever for the well-off. It’s people in the working and middle classes who are leaving, largely due to high housing and other costs. “In the past five years the flow of middle-income residents out of the state has accelerated,” wrote Hans Johnson, a demographer with the institute.

internationals come and wealthy americans come while the middle and lower class leave. as a butheremails i'd think the latter folks would be your chief concern
Educated people who demand better jobs are moving there. Just like Indiana (and the Republican Party) has a brain drain.
 

CO. Hoosier

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Except for the fact that what you're saying isn't true. California is 26th in the US in poverty rate.


For income inequality you're closer. California ranks 4th behind Louisiana, New York, and Connecticut.


I'm not sure what California can do better. There are a lot of super rich people there, but California is ranked 7th in the nation for middle class tax friendliness.


I'm confused as to what you want California to do differently than they are currently.
National poverty thresholds aren’t meaningful in California because of cost of living. . California leads the nation in poverty by many different measures.

California leads the nation in regulatory fads. It Could start by pulling that back.