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California Has the Jobs but Not Enough Homes
Wall Street Journal, by Nour Malas

Original Article

Posted By:StormCnter, 3/20/2019 7:54:55 AM

SAN FRANCISCO—California’s economy is adding jobs far faster than affordable places to live, forcing some employers to leave the state as they expand. Companies that move from California have historically left behind its diverse industries, renowned public universities and balmy climate for states with lower taxes and lighter regulation. But now home prices and rents, higher on average than anywhere else in the country, have surged to the top of concerns for businesses and workers. For employers, “we’re at a crisis stage,”


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Reply 1 - Posted by: Clinger, 3/20/2019 8:20:00 AM     (No. 11936487)

Not to worry, the lack of affordable housing and inability to hire people to take the jobs will drive the remaining jobs elsewhere achieving a balance. That new balance will leave California even more of a land of rich and poor with nothing in the middle.

The Trump economy gave people choices so now they have new jobs to flow to where they can afford to live. The Obama economy kept people stuck with few options. That masked the decline.

The rest of us won´t be far behind if Trump doesn´t win in 2020. Some of the rest of us are still right behind the mother canary.

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Reply 2 - Posted by: smcchk, 3/20/2019 8:52:21 AM     (No. 11936539)

California will soon be the land of feudalism with the tech company nobility and their peasants and serfs. So enlightened.

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Reply 3 - Posted by: jimjr, 3/20/2019 8:56:12 AM     (No. 11936547)

In the very near future, there will be four groups of people in "Commiefornication" - Rich leftist "elites" (self-proclaimed), welfare recipients, the illegal aliens who tend the property of the rich leftists and criminals, but I may be repeating myself.

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Reply 4 - Posted by: Donna M, 3/20/2019 9:17:11 AM     (No. 11936594)

If you want to see an inside look at the relationship between tech moguls and those who work for them, read the brilliant takedown of Theranos, ´Bad Blood´ or the upcoming HBO documentary.

It´s the elite--and even if you are a VP, everyone else. And they remind you every day in a way that would make a medieval lord proud. Makes you want to reach for the nearest pitchfork or yellow vest.

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Reply 5 - Posted by: red1066, 3/20/2019 9:24:36 AM     (No. 11936607)

Have so many people left California that they can´t find people to work? I suspect the problem with California is that while the rest of the country is approving $15 an hour minimum wages, California would need to approve a $50 an hour minimum wage to compensate for the ridiculous high housing prices and taxes.

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Reply 6 - Posted by: Thomthomp, 3/20/2019 10:04:39 AM     (No. 11936686)

This is also a problem for the funtioning parts of the country when Californians with their liberal sickness move to places like Texas and infect them. Liberalism is like a cancer that destroys everything it touches and spreads.

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Reply 7 - Posted by: NorthernDog, 3/20/2019 10:31:37 AM     (No. 11936730)

The new requirement for CA houses to have solar panels will only increase the costs. And I wonder how much earthquake insurance is on the average $750K house. My guess is - way too much to afford.

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Reply 8 - Posted by: dvc, 3/20/2019 10:36:19 AM     (No. 11936737)

Of course, not - the ecocrazies have made land use laws which make it nearly impossible to build new developments, and increase the costs massively for any that manage to get through.

Dr. Sowell has commented on this being the primary reason for high cost of homes in Cali - government restricting the ability of landowners to do what they want with their land.

One of the MANY reasons that I will never live in Cali again.

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Reply 9 - Posted by: Proud Texan, 3/20/2019 11:03:08 AM     (No. 11936791)

Send the illegals home and they would have a lot more housing available!

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Reply 10 - Posted by: bldrrepub, 3/20/2019 11:08:54 AM     (No. 11936802)

I frequently travel to both Northern and Southern California for work. To hear of 2-hour (one way) commutes as well as 10-15 software engineers living in a house to me is insane.

But how much different is it from the gold camps in the 1800s or even the new oil and gas camps in Texas?

We have a booming economy. California also has a booming government, on the state, county, and local levels. Each level with their hand in the pocket of the citizens; driving up the cost of everything, from building a home to driving a car.

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Reply 11 - Posted by: Hotrod, 3/20/2019 11:12:31 AM     (No. 11936809)

There are plenty of homes, if you´ve got the money!

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Reply 12 - Posted by: earlybird, 3/20/2019 12:15:16 PM     (No. 11936871)

This gets so boring. Whenever it’s a slow news day, the WSJ starts in on the “not enough (affordable) homes in California” and then proceeds to talk about San Francisco, San Francisco, San Francisco - and the Bay Area (Greater San Francisco).

This has ALWAYS been an expensive area. Why, do you ask? Because big cities, with land built out, are expensive. Home prices are about supply as well as demand. If the demand outstrips the supply…. well, we should understand that.

Nour Malas is a young Middle Eastern woman who usually writes about Iraq, Syria, etc. She should stick with that.

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Reply 13 - Posted by: FL_Absentee_Voter, 3/20/2019 1:50:14 PM     (No. 11936977)

To further #12´s point, San Francisco (the city) sits on a peninsula. The only direction to expand is south - into Silicon Valley.

Homeowner´s insurance here doesn´t cover earthquakes. Quake insurance is optional and is a racket. Not that expensive but deductibles are $100K+. I don´t carry it. Never will.

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Reply 14 - Posted by: earlybird, 3/20/2019 3:45:28 PM     (No. 11937056)

To expand on #13, on a point I’d missed (the peninsula aspect), some of the most expensive real estate in the United States is down the peninsula. Silicon Valley. Atherton, Menlo Park, Palo Alto. Homes on the outskirts of San Mateo are going sky high.

The draw? The CEOs of those big companies want to live in those places.

Will they be happy in Austin?

(I had to laugh at one company mentioned. A little Pittsburgh (PA) company that offers free language training (seems to specialize in Arabic). Employees: 98.)

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Reply 15 - Posted by: bighambone, 3/20/2019 7:06:34 PM     (No. 11937239)

In 1973 I bought a new house in California for $25,650 that same house now much older just sold for over $450,000.

Since California is intent of importing the poor, uneducated, and socialist oriented populations of Central America in unlimited numbers, the powers at be in California had better start thinking about where they are going to house all those people who they want to turn into Democrat socialist voters. It’s pretty clear when California imports Central America that a good part of California is going to turn into Central America.

Very few of those Central Americans are going to be able to purchase a three bedroom house in California priced at $450,000 on the earnings of a low paying job or jobs.

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