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Gavin Newsom the working class hero


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Tradesmen will be booked out for years:

https://www.wsj.com/articles/california-limits-single-family-home-zoning-11631840086

I'm wondering what this does to the value of my parents' acre in Los Altos Hills.  It's a level lot walking distance to Downtown Los Altos.  

Worth about $5m before the news (per zillow).  All land value, just a 1950s ranch style home with single-paned aluminum framed windows.  Purchased in 1970.

Edited by ERICOPOLY
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Its amazing what they'll do when people start leaving. Why not just do the right thing to begin with? Meanwhile I saw something recently about folks in AZ starting to throw fits about new developments, especially of the multifamily variety. Both of us seem to be on the same investment page there....but further bullish for the MF REITs. 

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I mean, people have been leaving California for a long time.  My first stop in college (5 academic quarters beginning Fall '91) was a stint at the University of Oregon in Eugene.  I would drive up from California and because of my California plates I'd have trucks driving right behind my car with their headlights on full.  That was their angry response to the wave of Californians that had been relentlessly retiring in Oregon and taking their property equity with them and driving up real estate prices in Oregon to the point where Oregonians could not afford to buy, or if they already owned they could not afford the property taxes any longer and were getting squeezed.  That's their own fault though -- Californians adopted Proposition 13 in the 1970s that capped tax assessments at a 2% increase per year (much lower than inflation even).  Oregon could have done that too, but they'd rather bitch and complain instead.  My parents' home today is taxed at about 5% of it's actual market value. 

 

 

 

 

 

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On 9/17/2021 at 3:16 PM, Gregmal said:

Eventually you evolve or die. 

 

Surprisingly (or not), this cutting of red tape was opposed by the state's GOP.  Well, it's pissing off a lot of people who don't want more density in their own back yard.  The so called party for the blue-collar guy is headed by people who live in neighborhoods opposing infill.  People like their single family zoning.

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4 hours ago, ERICOPOLY said:

 

Surprisingly (or not), this cutting of red tape was opposed by the state's GOP.  Well, it's pissing off a lot of people who don't want more density in their own back yard.  The so called party for the blue-collar guy is headed by people who live in neighborhoods opposing infill.  People like their single family zoning.

Its weird and for a while I kind of refused to believe it was this simple(one would think there had to be more to it than this) but I am beginning to be convinced that there is actually no rhyme or reason to the sides either party takes. Initially, sure, one party finds something it wants to champion as a theme. And then the other party just automatically has to take the opposite side. Covid is full of them. Flu/doomsday death virus, lab leak/food market, vaccines yes/no, stay open/lockdown....that really highlighted the insanity, but its everywhere else as well. 

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