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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (266267)12/28/2005 5:17:34 PM
From: tejek  Read Replies (1) of 1575622
 
BTW, if only 8% of people in CA can afford to buy a house, what's going to happen to housing prices?

They've been citing those same tired statistics for 15 years...maybe longer. There is a couple reasons why it doesn't matter all that much in CA. First, CA is the land of milk and honey. There is a lot free money floating around. I met this guy once just before I left who had written the screenplay for some children's tv show. Ten years later he was still living off the money from the sales price plus the residuals. I heard he had to go back to work last year. And trust me, he had a very nice lifestyle before and after he got married. I understand he went back to work only last year. This funny money is available mostly in the film industry but it spills over to other industries as well.

Secondly, a lot of CA parents when they sell their house in order to retire, relocate to a cheaper state and give their offspring some money for the down.

A third way is through hi tech startups.....there is lots of money to be made. Not as common as it once was but it still has an impact.

Those are the three major ways but there are others as well.

Californians are some of the most creative people in the country....if there is a way, they will find it.....legal or otherwise.
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