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As someone who lived through the Kalifornication of Oregon, let me explain how this goes:
Thread
1. The high tech emigrants coming into your state are ALL deeply liberal Democrats.
2. They are ALL more wealthy than the average homeowners in your town https://twitter.com/dbongino/status/1338123198609698817
Thread
1. The high tech emigrants coming into your state are ALL deeply liberal Democrats.
2. They are ALL more wealthy than the average homeowners in your town https://twitter.com/dbongino/status/1338123198609698817
3. They have significant equity (in pure dollars) in the homes they will sell as they leave Kaliforiagrad.
4. The home equity proceeds they come to your state with will allow them to make cash offers on any house
5. Sellers always take the cash offer over any loan offer
4. The home equity proceeds they come to your state with will allow them to make cash offers on any house
5. Sellers always take the cash offer over any loan offer
6. This is where you first start to feel the pain. You will be forced for the first time in your life to offer over asking price to buy a home.
7. This in turn increases sale price because the Kaliforiagradian will simply out bid you. They are wealthier than you
7. This in turn increases sale price because the Kaliforiagradian will simply out bid you. They are wealthier than you
8. So while that hurts any of you locals trying to buy a house, sellers and folks not yet interested in selling start yaking on at cocktail parties about how their home equity is shooting up. They see this as wealth. It isn't.
9. Increasing home sale prices drives up the assessed "value" of your home. From 1990 to 1997 Kalifornication in Oregon caused my home "value" to double. I know how this goes. I've lived it.
10. Higher assessed home values means higher property taxes.
10. Higher assessed home values means higher property taxes.
11. Now you're paying SIGNIFICANT LY higher property taxes. This motivates the school systems to spend more money
12. Kaliforiagradians will pour tons of money into all local elections.
13. These local officials will fall under pressure to make the Kaliforiagradians happy.
12. Kaliforiagradians will pour tons of money into all local elections.
13. These local officials will fall under pressure to make the Kaliforiagradians happy.
14. The Kaliforiagradians will press their bought and paid for local politicians on matters of leftist ideology such as "saving the planet"
15. The first way to "save the planet " will be to stop urban sprawl in the city you used to call "your city".
15. The first way to "save the planet " will be to stop urban sprawl in the city you used to call "your city".
16. Urban sprawl is "solved" by forced population density. Density makes abandoning your car a "reality". Save the planet.
17. The local officials bought by the Kaliforiagradians will implement "urban growth boundaries" which means developers can only build in the zone
17. The local officials bought by the Kaliforiagradians will implement "urban growth boundaries" which means developers can only build in the zone
18. Land pricing shoot through the roof. Your 3000sqft home is now being built on 6000sqft lots--at SIGNIFICANTLY higher home cost.
19. So your cocktail party fame of 5 years ago about "home equity" fizzles. You sell high and are forced to buy less home at a higher price.
19. So your cocktail party fame of 5 years ago about "home equity" fizzles. You sell high and are forced to buy less home at a higher price.
20. Fewer "locals" will be able to qualify to buy homes. Developers can't just build to meet market demand because the Kaliforiagradians got an urban growth boundary implemented
21. So many locals will never be first time buyers. They look to the rental market
21. So many locals will never be first time buyers. They look to the rental market
22. The rental market is a mess because any home low-grade enough to rent is worth gold to a Kaliforiagradian who will buy it above asking with cash and fix it up. That's how they get grandfathered sprawling property even in the urban growth boundary.
23. You, however, can't find an affordable place to rent in a market where only 5 years ago you were a qualified *buyer*.
24. Kaliforiagradians have more money than you. That money will show up in more leftist politicians and policies in the place YOU ONCE REFERRED TO AS TEXAS.
24. Kaliforiagradians have more money than you. That money will show up in more leftist politicians and policies in the place YOU ONCE REFERRED TO AS TEXAS.
25. The story goes on but you probably get the gist.
This is not fiction. It happened to OR, WA and CO and is spreading.
I wish you the best.
This is not fiction. It happened to OR, WA and CO and is spreading.
I wish you the best.
