Comments on: California Housing and Economic Census: Data from the new American Community Survey shows California is in Economic Trouble. Who Moved my Cheese?

By: Henry C.

Henry C. — Sat, 13 Dec 2008 17:19:56 +0000

You forgot to mention that many of the people who bought houses before 2003 are also underwater because of the HELOC’s. How bad will it get before it’s all said and done? Worse than most of dire predictions is my opinion. We’re talking depression here folks.

By: Matt C

Matt C — Sat, 13 Dec 2008 13:18:58 +0000

Dave,

THis is a morality/econ lesson for your (and my) kids they
will never forget. We had kids coming by sneering before
they moved out of our rowhouse neighborhood to mcmansionville,
just throwing it in our face. Now you bring your kids to those
bighouse burgs. Show them the price reduced signs.;
Show them the headlines. Let them know that those snooty
assholes are to blame for the countries problems. As parents,
you don’t get this kid of teaching moments but once in a generation
at best!

-Matt C

By: Hugh Pavletich

Hugh Pavletich — Sat, 13 Dec 2008 09:28:44 +0000

Thank you Dr Housing Bubble for comparing Texas and California. The central question is – why did housing bubble up to 9 times annual household earnings in California, which they remained constant at around 2.5 times annual household earnings in Texas.

Its clearly land use regulation, where they are “allowed” to build affordable housing in Texas – but not sadly it would appear in California. Unless of course, you believe the silly line that somehow Texans are somehow “more moral” than Californians.

Its the Californian housing bubble collapse that triggered the Global Financial Crisis – that at the very least is going to lead to a severe global recession. It would be fair to say that States such as California had land use law like that of Texas – it would likely be that the United States economy would still be growing.

When do the Californians intend to start dealing with the real structural land use regulation issues – so we dont see a repeat of these unnecessary artificial housing bubbles?

Hugh Pavletich
Performance Urban Planning
http://www.performanceurbanplanning.org
Christchurch
New Zealand

By: St Alphonso

St Alphonso — Sat, 13 Dec 2008 08:46:15 +0000

K
Docs right about the whole Peter-Pan mentality where adults never grow up. There’s nothing inherently wrong with a jet-ski–but somebody has to be the grownup. The responsible are being overwhelmed by reckless right now and the circus that modern life has turned into is an obvious paradigm of mass insanity and all the toys are an excellent symbol of that. Time for big-boy pants ’cause the red tide is rolling in…sorry, morality is the heart of this mess. EIght-billion people gotta have some rules to survive together.

By: Dick

Dick — Sat, 13 Dec 2008 04:25:41 +0000

Yeah, all that jet ski, monster truck, speedboat, crap is chronic here in Florida as well. I could never understand why anyone would pay for 4-wheel drive and monster rims in a state with no hills and zero snow. The US national pastime is burning gasoline, good thing we annexed Iraq. Oh wait.

My girlfriend’s parents owned a carnival, and they know what Chuck E. Cheese knows, and the Fed knows. Whether it’s tokens or FRN’s, if you issue the currency, you rule.