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California - Middle class disappering...

Chalanachithram.com DB » New TF Industry Related » Archive through October 25, 2018 » California - Middle class disappering - must read « Previous Next »
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Saarang
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Posted on Wednesday, October 24, 2018 - 11:50 pm:       


Biggboss:



median sale price could be lower because of the smaller sft

may be median sft price would give the right idea?




yeah koncham noise untudhi le like age of the house, sft variation but its biggest drop in many markets since the last recession.
 

Bushu
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Posted on Wednesday, October 24, 2018 - 11:48 pm:       


Lenin:

Read capital in 21st century from Thomas Piketty




most of his stuff has been debunked. idhi unchu - https://www.imf.org/en/Publications/WP/Issues/2016/12/31/Tes ting-Pikettys-Hypothesis-on-the-Drivers-of-Income-Inequality -Evidence-from-Panel-VARs-44165

and

https://blogs.wsj.com/economics/2016/08/05/no-empirical-evid ence-for-thomas-pikettys-inequality-theory-imf-economist-arg ues/

Taleb aithey left and right eskunnadu chala sarlu. no one takes piketty seriously anymore
 

Biggboss
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Posted on Wednesday, October 24, 2018 - 11:46 pm:       


Saarang:

Look at the median sale price in the chart...it dropped from 2.3M to under 2 Million now.




median sale price could be lower because of the smaller sft

may be median sft price would give the right idea?
 

Lenin
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Posted on Wednesday, October 24, 2018 - 11:43 pm:       

Read capital in 21st century from Thomas Piketty

USA inequality level is at a rate equivalent to apartheid times...

capitalism's new avatar is called consumerism now a days
Guntur, Hyderabad, Andhra, Telangana, Tamilnadu, Karnataka first....India last!!!
 

Saarang
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Posted on Wednesday, October 24, 2018 - 11:37 pm:       


Biggboss:


was looking at Trulia trends and I don't see a decline in home prices yet

https://www.trulia.com/real_estate/Cupertino-California/mark et-trends/




Look at the median sale price in the chart...it dropped from 2.3M to under 2 Million now. Year over year 2.8% ante market has dropped in the last few months. yoy trends will show a decline later.
 

Bushu
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Posted on Wednesday, October 24, 2018 - 11:26 pm:       


Biggboss:

was looking at Trulia trends and I don't see a decline in home prices yet




they are lagging indicators.

rising interest rates are definitely one reason. no blockbuster IPO or liquidity event for tech cos in the last 3 months. anaplan and survey monkey are small ones.
 

Biggboss
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Posted on Wednesday, October 24, 2018 - 11:11 pm:       


Bushu:

right in cupertino. haven't seen reports, friends in market info. koncham exaggeration undochemo le gaani, houses that would sell in a day are on market for two to three weeks. 2.4 mil ki list aina house recent gaa went for 2.25 after 3 weeks. just few months back, would have gone for 2.6 easy ..




could be a one off case

was looking at Trulia trends and I don't see a decline in home prices yet

https://www.trulia.com/real_estate/Cupertino-California/mark et-trends/

may be the number of days on the market has increased because of the rising interest rates
 

Biggboss
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Posted on Wednesday, October 24, 2018 - 11:09 pm:       


Bushu:

. even fremont when I was around was just OK, now crazy. only mission boulevard used to be expensive with persian money. now everything's outrageous.




Fremont is a beast now, considering it's close to Palo Alto, San Mateo and you can take BART to SF and also people who got priced out in San Jose and Santa Clara moved to Fremont.

FB and other big techies rented 754k sft space in Fremont (near Dumbarton and 880), this location is just on the other side of FB palo alto office

Apple, FB, Netflix, Genentech pretty much all the companies run their shuttle services from Dublin, Pleasanton, Fremont

this accelerated the growth in the above areas

https://www.sfchronicle.com/business/article/Facebook-leases -more-space-in-Fremont-12995606.php
 

Bushu
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Posted on Wednesday, October 24, 2018 - 11:04 pm:       


Biggboss:

Where did you see -5% correction in Bay Area? Can I get the source?




right in cupertino. haven't seen reports, friends in market info. koncham exaggeration undochemo le gaani, houses that would sell in a day are on market for two to three weeks. 2.4 mil ki list aina house recent gaa went for 2.25 after 3 weeks. just few months back, would have gone for 2.6 easy ..
 

Biggboss
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Posted on Wednesday, October 24, 2018 - 11:01 pm:       


Bushu:

things have cooled down in the bay area. -5% aindhi.




Where did you see -5% correction in Bay Area? Can I get the source?
 

Bushu
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Posted on Wednesday, October 24, 2018 - 10:50 pm:       


Sannayi_nokkulu:

recent visit lo telsindi inkoti commute unna sare konchem suburbs ki velthe 500k ki super illu set cheskonnadu maa frd 2 homes one rented he works from home all time....even if 2 days SFO lo office kii poina i think its worth it




okapudu livermore, pleasanton atlaa undevi. ipudu avi kooda fast getting expensive.

but market is undergoing correction. things have cooled down in the bay area. -5% aindhi. inkaa authadhi. not big time like florida in 2008 but koncham untadhi.
 

Bushu
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Posted on Wednesday, October 24, 2018 - 10:48 pm:       


Biggboss:

Cupertino - it's not really a suburb




have many friends there. myself got out at the wrong time. bad call. most doubled their investments in 7 yrs.

it was a suburb le. ippudu lines blurred. even fremont when I was around was just OK, now crazy. only mission boulevard used to be expensive with persian money. now everything's outrageous.
 

Sannayi_nokkulu
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Posted on Wednesday, October 24, 2018 - 10:43 pm:       


Bushu:


recent visit lo telsindi inkoti commute unna sare konchem suburbs ki velthe 500k ki super illu set cheskonnadu maa frd 2 homes one rented he works from home all time....even if 2 days SFO lo office kii poina i think its worth it
sachipotava , avineethi ga batukutava okkate option ante alochinchakunda chachipotaa ane type cbn - OT
 

Biggboss
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Posted on Wednesday, October 24, 2018 - 10:43 pm:       


Bushu:

south san jose, cupertino, 1200 sft house on a 5000 sft lot, min 1.9 mil




Cupertino - it's not really a suburb

lot of startups, and Cupertino has best schools in california, half of the high school kids end up in Berkeley, Stanford and other good colleges

most of the junior high and high school kids run NGO's and there are kids who started companies in their teens
 

Sannayi_nokkulu
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Posted on Wednesday, October 24, 2018 - 10:41 pm:       


Bushu:

1200 sft house on a 5000 sft lot, min 1.9 mil


nakenduko calif peru inte mars la anipistundi
sachipotava , avineethi ga batukutava okkate option ante alochinchakunda chachipotaa ane type cbn - OT
 

Bushu
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Posted on Wednesday, October 24, 2018 - 10:32 pm:       

south san jose, cupertino, 1200 sft house on a 5000 sft lot, min 1.9 mil

out of the world. SF city aithey inka na bhootho. at least in the city ani saripettochu. dheenamma burbs lo aa rates crajee
 

Biggboss
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Posted on Wednesday, October 24, 2018 - 10:21 pm:       


Aggipidugu116:

We should stop worry abt left leaning states..and leftards..




Yep left leaning states are begging you to come and work for the Fortune 100 companies

kiki
 

Bushu
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Posted on Wednesday, October 24, 2018 - 10:17 pm:       

as usual, thellollu were smart and moved out first. to oregon, arizona and texas. immigrants got sucked in. beautiful weather and families make people stay there. but unless your household income is min 400K, cannot live in the bay area.
 

Aggipidugu116
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Posted on Wednesday, October 24, 2018 - 10:16 pm:       

We should stop worry abt left leaning states..and leftards..
 

Thokkalohdi
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Posted on Wednesday, October 24, 2018 - 09:29 pm:       

really really high costs
Caste: Shudra, Sub-caste: Software , Sub-sub-caste: nri Kula daivam: satyam raju
 

Thokkalohdi
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Posted on Wednesday, October 24, 2018 - 09:28 pm:       

yeh.. i feel like leaving this place and run away
Caste: Shudra, Sub-caste: Software , Sub-sub-caste: nri Kula daivam: satyam raju
 

Jeffa
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Posted on Wednesday, October 24, 2018 - 08:09 pm:       

Even within CA itself, its very unequal across the regions. Top is SF bay area, then LA, then goes San Diego and finally Sacramento.

Oh!! BTW, within SF Bay Area, wealth is located in few areas (San Jose, SF, Palo Alto etc..) Oakland, even further east, its not good wealth though.
 

Rockfire
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Posted on Wednesday, October 24, 2018 - 05:56 pm:       

https://thehill.com/opinion/finance/412928-middle-class-is-d isappearing-in-california-as-wealth-gap-grows

CA is becoming like Indian economy.

1. Middle class disappearing
2. Huge gap between rich and poor
3. Staggering amoutns spent on education admin

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