A Bayarian Takes the Red Pill
This rant was left on the Boycott Housing site and I think he makes some valid points. I can certainly understand his frustration. And I am glad that some people here are questioning the status quo. Maybe there will finally be change.
The previous post [on the Boycott Housing blog] is an excellent example of why this state is consistently bankrupt. Thanks to the outdated legislation of the 70s like proposition 13 and all the anti-development NIMBY measures that are in place, taxation levels from property is dismally low compared to other states. And thanks to the huge preponderance of anti-development and anti-business practices being employed by the state, housing prices are skyrocketting as the general wages of those in the business sectors are stagnant. Meanwhile, to combat the high cost of living, the state increases the salaries of its own employees (firefighters, teachers, etc) driving it further into debt and making the rest of us scratch are heads wondering why we took student loans and busted our asses in college just to make the same salary as some of the individuals the previous poster mentioned. Here is an interesting thing: when Ahhh-nold was voted into office, he sought the advice of Warren Buffett on how he can best balance the budget. You know what Warren's very first suggestion was? Increase property taxes and repeal prop 13. And of course, that idea was shot down faster than an Iraqi jet fighter. Now why is it that everyone and their mother in the world of economics and finance can see the unnecessary pressures being placed on the working middle class of this state just to basically pay for the retirement of some assholes who bought their houses 30 years ago? Our school system ranks amongst some of the worst in the country now. Our roads battered, torn, clogged and congested to nightmarish levels. Our housing is sky high and our income taxes are ridiculous. Meanwhile, a segment of the population lucky enough to be born at the right time sits back and enjoys a pleasant retirement at a cost to us. My personal opinion: this is a big country. And its a big planet too. Why sit here and wait for some POS 60 year old house to drop from $650k to $500k? Just do the math everyone. It could drop to $350k and you would still be getting screwed. Now I consistently hear about the repeated notion of "the fabulous bay area" and all it has to offer. Somebody, please enlighten me: WHAT EXACTLY AM I PAYING FOR AROUND HERE? The weather? And some nice cliffs with views of the Pacific. Well, that's swell. Certainly worth a premium of a home worth 10 times what it is anywhere else. (And by the way, that $650k home ain't anywhere near the ocean or the nice hills) Just wait and see what this place will be like 20 years from now. After continued outsourcing, both foreign and domestic, continues to send more and more high technology individuals to greener pastures elsewhere. I am sure your "fabulous bay area" will have a striking resemblance to Detroit in a few years. Except with slightly better weather.