Beware the coming Real Estate Bubble Burst
Original post made
by chaz, College Terrace,
on Mar 17, 2013
Palo ALto prices are up 36 percent on last year.
Beware the bubble.
Most of the pressure is coming from Chinese Money. Hot money is fleeing Chinas real estate bubble for something more secure. Its flooded into Toronto, Vancouver, Vegas, anywhere in California, particularly places with good public schools and universities.
However beware. The rush to purchase may push these prices higher, and they will stay high so long as the bubble continues pushed higher and higher. But at the end of the day prices can only be sustained by the local economy, and taking Palo Alto, that would be lower than they are now. Scarcity aside, it is way better to rent in Palo Alto than buy, so that prices will soon come down.
Prices in Vancouver is starting to tumble down, off 11 percent from last year as the Chinese moved down the coast to places like Palo Alto
This is a huge issue, but some silly liberal philosophy means that we are not allowed to talk about it! We are supposed to welcome all immigrants and not mention the destabilizing influence of hot mony parked in our real estate.
Posted by CrescentParkAnon.
a resident of Crescent Park
on Mar 19, 2013 at 10:29 am
> Posted by Grover, a resident of the Adobe-Meadows neighborhood, 2 hours ago
> CrescentParkAnon, what do you mean by "our culture" and "our neighborhoods"?
I would think it would be obvious, and of course, it is, but you have to try to make it sound racist by playing that absurdly equal idea that all cultures have equal rights everywhere theoretical perfection ... it just does not exist anywhere.
I really wonder if you are either a non-American or non-Palo Altan with animus towards same, or if you are actually have any experience with any minorities at all?
For example, in real life when I was going to through college and working I used to go to a laundramat where there were a lot of Mexican Americans working and as customers. I would spark up conversations and got to know the regulars, not all Latinos by the way. Almost to a one at some point in the conversation they would express their feeling that Mexico was going to take back over California. I would just ignore this, but I did note it. A couple of time I probably asked how they thought CA or the US would be better if it was more like Mexico, but the point is, people think like this, they resonate with their cultures, and they take it wherever they go and there's good and bad to that.
If you talk to Asians, and this is mostly with Chinese, and that includes Chinese-Vietnamese, Chinese-Phillipinos, Chinese-American and Chinese-(other) some of them actually do happen to be very racist. Not all, and there are certainly American racists as well, but assuming this is all about equal and only comes out when a group has the power to abuse their numbers, and many have noted this is a pattern with Muslims, other groups do change the nature of places they move to. I have had a lot of experience with people from other cultures and they can be as advanced as Americans like to think they are, and they can also be just as racist, sexist, homophobic or good-ole-boyish as American know that some of us can be.
There are differences between people in values, habits, politeness, hygiene, etc.
If it was not obvious, I'm saying that I, as an American, and Palo Altan since 1969, and coming from the American South have always appreciated Palo Alto and its community for its attempts to be fair to all, political correctness is what people call it when they think it has been overdone. I think it is something that has mostly taken hold in California, and despite some over-exuberant issues it is a very good thing. That said, it can be used and abused to the detriment of the system itself. I think most people, and the vast majority of children when they see and grow up in a place that promotes tolerance sees that it is the better way, but tolerance can be abused as well.
I like to meet and know foreign people. I've always had an interest and affinity for different ways of thinking, but I have had a respect and pride for what Americans do right, and our ability to be eclectic and adopt things from other cultures that make sense. Food, gardening, taking one's shoes off before they go inside, little things that add to quality of like that were not necessarily invented here.
I think the anxiety is that people who have lived here all their lives and like it the way it is do not like to see things change, and sometimes for good reason.
I expect you know exactly what I mean and were looking to 1) accuse me of racism, 2) give me the runaround forcing me to spend a lot of time writing a response to something you probably did not even think about, and 3) hoping in doing that I would put my foot in my ideas and you could again take the cheap shot and impose upon my good nature to accuse of being somehow immoral or unfair to people in a way you could discount.
I think we need a way to discuss issues like this without it turning into an absurdity, without people's feelings being called incorrect or immoral, and in a way where the real issues come out, because people do sometimes have racist behaviors and maybe they do not even realize it or when it is talked about they can see that more clearly.
What we do not need is these knee-jerk attacks on anything that might possible be misconstrued as racist by people who do not mean well or who are not trying to be constructive. Anyway, hope I did not step in anything or on anyone's toes, at the very least everyone should have the right to their feelings and to express them. These are just words and if meant to deliberately hurt even negative feelings can lead to something constructive if only the recognition that we all have such feelings at one time or another.