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Non-Tech : Investing in Real Estate - Creative Opportunities

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To: John Vosilla who wrote (2084)	2/13/2014 6:24:51 PM
From: gcrispin	Read Replies (2) of 2722

I have lived in Santa Barbara since 1960 and I can tell you that housing was more expensive here than in other parts of Santa Barbara County. Example: I sold two three bedroom two bath houses in Lompoc for 70000.00+ in 1986 and bought a one bedroom two bath house (900 sq. ft) in 1987 for 200,000. I don't think housing prices had anything to do with Reaganomics. It was more of a function of Paul Volker breaking inflation and interest rates coming down during that time. With the decrease of rates, there was a concomitant increase in housing prices. With all due respect, one could define "progressive" as living within what the natural world can support. There was a devastating drought in Santa Barbara County in the thirties as well as the eighties. We are now in a drought condition again. Montecito (yes, Oprah's neighborhood) now has mandatory 30% water decrease in place. Projections suggest that Montecito will be out of water by this summer if they don't cut back. noozhawk.com Think what kind of restrictions would be in place if there was increased development in the city to satisfy all the people who want to live here.

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