/biz/ - Business & Finance

>>49519473
>>49519368
Here's a tip for knowing when the top is in on real estate:
Black. Home. Ownership.
Most likely to get subprime loans, most likely to default, most likely to buy above their means, least likely to have stable employment.

>>49338618
Most of those people can't remote work their jobs so they are forced to stay in cali. The good news is that as Cali's oppressive business taxes and high cost of living drive companies away we should see an expansion of high paying jobs in other states. Texas and Florida are already getting big influxes of companies from Cali and New York that left over covid restrictions, and I'm sure more will follow.
Also with China having their real estate market collapse the west coast should see a drop in foreign investments in properties which could ease housing prices, which would tank Cali's tax surplus as real estate taxes would crater.
If 2008 was any indicator the people most likely to get foreclosed on (and then forced out of the state) are black and hispanic, which could help fix some of the demographic issues that make cali so deep blue.