View Full Version : California expects a record budget surplus of nearly $100 billion.
California: High taxes, everyone is leaving, in decline.... or not... but drowning in money.
SACRAMENTO — Buoyed by the pandemic prosperity of its richest taxpayers, California expects a record $97.5 billion surplus, Gov. Gavin Newsom said Friday, as he proposed a $300.6 billion state budget that also was a historic mark.
“No other state in American history has ever experienced a surplus as large as this,” Mr. Newsom said...
https://www.nytimes.com/live/2022/05/13/business/economy-news-stocks-inflation
spurraider21
05-13-2022, 05:45 PM
party of fiscal responsibility tbh
ducks
05-13-2022, 05:58 PM
How much in debt is California ?
Roads are terrible there …
They have no surplas is money
DarrinS
05-13-2022, 06:21 PM
Pandemic prosperity
ElNono
05-13-2022, 06:28 PM
Largest economy in the US, always been the model to follow in the country, tbh... even other States advertise and beg here to try to get some of the business...
Now, they need to use some of that dough to address the housing situation, tbh
DarrinS
05-13-2022, 06:32 PM
Largest economy in the US, always been the model to follow in the country, tbh... even other States advertise and beg here to try to get some of the business...
Now, they need to use some of that dough to address the housing situation, tbh
Yeah
https://www.lendingtree.com/home/mortgage/the-most-popular-us-cities-for-gen-z-homebuyers-ranked/?ccontent=TnL5HPStwNw&s1=TnL5HPStwNw&s2=TnL5HPStwNw-uHSyuZ4UDJqC3qd194Jp7w&ranMID=41202&ranEAID=TnL5HPStwNw&ranSiteID=TnL5HPStwNw-uHSyuZ4UDJqC3qd194Jp7w&PUBSID=2116208&PUBNAME=Skimlinks.com
DarrinS
05-13-2022, 06:35 PM
Utopia
https://www.cnbc.com/2022/05/08/the-cities-americans-moved-to-the-most-in-2021-according-to-penske.html
spurraider21
05-13-2022, 06:57 PM
CAs housing issue isnt new. their elimination of single family zoning was a hell of a step, though its going to take some time for the impacts of that to be felt. construction materials are still cost prohibitive in many situations right now
ElNono
05-14-2022, 01:29 AM
Yeah
https://www.lendingtree.com/home/mortgage/the-most-popular-us-cities-for-gen-z-homebuyers-ranked/?ccontent=TnL5HPStwNw&s1=TnL5HPStwNw&s2=TnL5HPStwNw-uHSyuZ4UDJqC3qd194Jp7w&ranMID=41202&ranEAID=TnL5HPStwNw&ranSiteID=TnL5HPStwNw-uHSyuZ4UDJqC3qd194Jp7w&PUBSID=2116208&PUBNAME=Skimlinks.com
Utopia
https://www.cnbc.com/2022/05/08/the-cities-americans-moved-to-the-most-in-2021-according-to-penske.html
Not sure what you're going on about. I mean, I already said they should address the housing issue.
But other than that, you really can't beat the weather here, the highest paying jobs are here as well, fantastic looking women, economy the size of Germany (over 2x the size of Russia's GDP), majority of socially liberal, legal to grow your own weed, and like I said, you have other states advertising here to try to lure businesses away. It's implicit you have heavily sought after businesses.
Sure, it's expensive, not everyone can afford it. It's an extremely competitive place as well.
ElNono
05-14-2022, 01:30 AM
CAs housing issue isnt new. their elimination of single family zoning was a hell of a step, though its going to take some time for the impacts of that to be felt. construction materials are still cost prohibitive in many situations right now
With all that money, the State can and should do more. Subsidize new developments, etc.
HemisfairArena
05-14-2022, 02:20 AM
With all that money, the State can and should do more. Subsidize new developments, etc.
They are for all the illegals that you love,,,still wont win you the midterms,,,can you say republican majority?,,,:lmao
daslicer
05-14-2022, 02:17 PM
Not sure what you're going on about. I mean, I already said they should address the housing issue.
But other than that, you really can't beat the weather here, the highest paying jobs are here as well, fantastic looking women, economy the size of Germany (over 2x the size of Russia's GDP), majority of socially liberal, legal to grow your own weed, and like I said, you have other states advertising here to try to lure businesses away. It's implicit you have heavily sought after businesses.
Sure, it's expensive, not everyone can afford it. It's an extremely competitive place as well.
I have always said the only reason people come to these conservative states is affordable housing but if housing was equal then no one would move to these conservative states over California. Even the cheap housing the conservative states have over California will be gone by the ending of this decade due to housing getting more expensive in conservative states that I expect housing costs to catch up to California pretty soon in expensiveness. Once that advantage of affordability is taken away from the conservative states you won't see many people moving their anymore.
ElNono
05-14-2022, 04:19 PM
They are for all the illegals that you love,,,still wont win you the midterms,,,can you say republican majority?,,,:lmao
Immigrants have been making California great for a long ass time, tbh... States like Texas that try so hard to catch up to California should take notes.
:lol And the GOP sure isn't getting a majority in California in the next election, or likely the next 3+. Heck, that loser Nunes already quit. :lol
Remember when they tried to recall Newsom and got their asses handed to them? good times :lol
Winehole23
05-15-2022, 02:37 AM
With all that money, the State can and should do more. Subsidize new developments, etc.subsidizing demand when they should be subsidizing supply, tbh
SnakeBoy
05-20-2022, 09:31 PM
California residents are fleeing to the country of Portugal and in many cases bringing problems that have made life more difficult for natives, according to the Los Angeles Times report.
https://www.msn.com/en-us/news/world/portuguese-angered-at-influx-of-californians-who-import-their-problems-with-them-report/ar-AAXpZHE?ocid=entnewsntp&pc=U531&cvid=ccc83558331e471f8edb53fd1cb0b3f0
Universally loathed
California residents are fleeing to the country of Portugal and in many cases bringing problems that have made life more difficult for natives, according to the Los Angeles Times report.
https://www.msn.com/en-us/news/world/portuguese-angered-at-influx-of-californians-who-import-their-problems-with-them-report/ar-AAXpZHE?ocid=entnewsntp&pc=U531&cvid=ccc83558331e471f8edb53fd1cb0b3f0
Universally loathed
LOL, sensationalism. The problems that made life difficult is that they're rich? LOL
ElNono
05-20-2022, 11:16 PM
California residents are fleeing to the country of Portugal and in many cases bringing problems that have made life more difficult for natives, according to the Los Angeles Times report.
https://www.msn.com/en-us/news/world/portuguese-angered-at-influx-of-californians-who-import-their-problems-with-them-report/ar-AAXpZHE?ocid=entnewsntp&pc=U531&cvid=ccc83558331e471f8edb53fd1cb0b3f0
Universally loathed
"But the average Portuguese person can no longer afford to live in the center of Lisbon. Rents have gone up five times over a few years. Even the basic things, such as buying groceries, take longer trips outside the city center than they used to."
Why do you hate capitalism, tbh?
"But the average Portuguese person can no longer afford to live in the center of Lisbon. Rents have gone up five times over a few years. Even the basic things, such as buying groceries, take longer trips outside the city center than they used to."
Why do you hate capitalism, tbh?
Seems the Portuguese hate it. It's a bit of a cheat, tbh. They make their money in a capitalist country and then move to a poor country to buy up all their shit. Meanwhile those people cannot get into said capitalist country. Works for me.
Of course the Californians move there because they think Lisbon is lesbian in Portuguese.
ElNono
05-21-2022, 01:25 AM
Seems the Portuguese hate it. It's a bit of a cheat, tbh. They make their money in a capitalist country and then move to a poor country to buy up all their shit. Meanwhile those people cannot get into said capitalist country. Works for me.
Of course the Californians move there because they think Lisbon is lesbian in Portuguese.
Meh, Portugal is not a poor country. They've been hovering around the top 50 GDP/PPP. You could do a lot worse than that.
Now, some Californians being obscenely rich, that is true.
Meh, Portugal is not a poor country. They've been hovering around the top 50 GDP/PPP. You could do a lot worse than that.
Now, some Californians being obscenely rich, that is true.
Do they have the means and ability to withstand hyperinflation driven by outside pressure to sell? Basically the Californians use one system to gain wealth and then exploit another system to avoid giving anything back to the first system, at the cost of displacing those who helped build the second system.
ChumpDumper
05-21-2022, 10:57 AM
Why does DMC hate capitalism?
ElNono
05-21-2022, 02:31 PM
Do they have the means and ability to withstand hyperinflation driven by outside pressure to sell? Basically the Californians use one system to gain wealth and then exploit another system to avoid giving anything back to the first system, at the cost of displacing those who helped build the second system.
I don't think they have to. This brings money to their economy and potentially can assist in growing and developing other cities. Higher prices also means higher taxes (since things like property taxes are derived as a percentage of the property value).
Sure, some locals might not like this, but this is a fairly typical demand-supply situation, and the good kind of investment money coming in.
I don't think they have to. This brings money to their economy and potentially can assist in growing and developing other cities. Higher prices also means higher taxes (since things like property taxes are derived as a percentage of the property value).
Sure, some locals might not like this, but this is a fairly typical demand-supply situation, and the good kind of investment money coming in.
Property owners would turn profit, renters would be fucked.
ElNono
05-21-2022, 05:05 PM
Property owners would turn profit, renters would be fucked.
Rents are high in California as well, but salaries are also generally high to match. No landlord wants to have empty apartments, tbh.
If the argument is that some people get priced out, that happens pretty much on every popular city.
Ef-man
05-21-2022, 05:27 PM
Why does DMC hate capitalism?
Between living in slums or gentrified areas, Chuncko prefers living in slums because of rent choice. :lol
pgardn
05-21-2022, 05:30 PM
Well Texas spent Covid money on a border wall. So… we…. Uhhh….
We are business friendly!
We make business Trucking traffic jams in both directions with Mexico!
ok
Your turn to brag California.
pgardn
05-21-2022, 05:40 PM
Oh yeah, we had overcrowding in our jails so this obviously created a budget surplus.
So again, used it on the border and paid more money on extra time for convicts waiting to go to prison.
So yep. We take make sure our more dangerous criminals end up costing us more… we call that a budget surplus.
Trump type accounting. Follow monetary procedures from a guy who can’t get a loan in the US.
We do these things in business friendly Texas.
TDMVPDPOY
05-21-2022, 06:26 PM
create more social housing for deadbeats of society who dont contribute to gdp?
Rents are high in California as well, but salaries are also generally high to match. No landlord wants to have empty apartments, tbh.
If the argument is that some people get priced out, that happens pretty much on every popular city.
I don't think the Portuguese were going to move to California. Landlords aren't going to have empty apartments. They are going to sell to the Californians. That's the point.
Something similar is happening around Toronto. The Asians are buying everything and making it so that the workers in the area cannot afford to pay rent.
I don't think the Portuguese were going to move to California. Landlords aren't going to have empty apartments. They are going to sell to the Californians. That's the point.
Something similar is happening around Toronto. The Asians are buying everything and making it so that the workers in the area cannot afford to pay rent.
Gentrification comes in many different flavors.
ElNono
05-21-2022, 07:26 PM
I don't think the Portuguese were going to move to California. Landlords aren't going to have empty apartments. They are going to sell to the Californians. That's the point.
Something similar is happening around Toronto. The Asians are buying everything and making it so that the workers in the area cannot afford to pay rent.
Landlords are pricing to what the market can bear. This has always happened, except on areas with rent control.
If the market suddenly gets inundated with rich people willing to pay higher for rent, then that's where the market goes. What's happening in Lisbon is what happened before in Paris, Madrid, New York, Los Angeles and any other sought-after metropolis.
FuzzyLumpkins
05-21-2022, 07:48 PM
Landlords are pricing to what the market can bear. This has always happened, except on areas with rent control.
If the market suddenly gets inundated with rich people willing to pay higher for rent, then that's where the market goes. What's happening in Lisbon is what happened before in Paris, Madrid, New York, Los Angeles and any other sought-after metropolis.
Sounds like a symptom of wealth inequality.
Landlords are pricing to what the market can bear. This has always happened, except on areas with rent control.
If the market suddenly gets inundated with rich people willing to pay higher for rent, then that's where the market goes. What's happening in Lisbon is what happened before in Paris, Madrid, New York, Los Angeles and any other sought-after metropolis.
You're giving me a quantity statement. I'm giving you a quality argument. I am well aware of the facts, it's the "ought to" that I am discussing. It sucks for the Portuguese, that's what I originally said. It shows that capitalism can put a foot on socialism if allowed to enter unabated. This is probably why the Gold Visas were put on hold.
Sounds like a symptom of wealth inequality.
Two different systems. Their government vs ours.
Gentrification comes in many different flavors.
AFAIK the Asians aren't moving in, they are just buying it all up. You can eventually sell your whole country, and those who now own it own you.
FuzzyLumpkins
05-21-2022, 08:19 PM
Two different systems. Their government vs ours.
You've already punted his point about other major cities here in the US. It completely destroys the underpinning of what you are blithely repeating here. Have fun being a mindless ideologue.
Now you're argument is not exclusive to what I am saying so is not a deduction.
ElNono
05-21-2022, 08:54 PM
Sounds like a symptom of wealth inequality.
It is.
You're giving me a quantity statement. I'm giving you a quality argument. I am well aware of the facts, it's the "ought to" that I am discussing. It sucks for the Portuguese, that's what I originally said. It shows that capitalism can put a foot on socialism if allowed to enter unabated. This is probably why the Gold Visas were put on hold.
There are rich Portuguese as well, and the way rent is priced existed well before the arrival of rich foreigners. It's the sudden influx of rich people that caused the market to fluctuate like that.
Is it fair or unfair to the locals? Debatable. There are good and bad aspects to it, for sure.
I mean, this happened in California, New York, etc as well, and it wasn't foreigners. High housing demand, short supply, being the center of a lot of commerce, lots of things factor into this.
It is.
There are rich Portuguese as well, and the way rent is priced existed well before the arrival of rich foreigners. It's the sudden influx of rich people that caused the market to fluctuate like that.
Is it fair or unfair to the locals? Debatable. There are good and bad aspects to it, for sure.
I mean, this happened in California, New York, etc as well, and it wasn't foreigners. High housing demand, short supply, being the center of a lot of commerce, lots of things factor into this.
Not trying to be pedantic, but you keep using words I didn't use or even indicate. I didn't say it was unfair. I didn't say it was bad. I said it sucks for them. It sucks for people who get priced out and have no alternatives. Someone almost always loses when someone else wins. It doesn't suck for those buying the properties though. The article says the Portuguese (some of them) are protesting. They are doing that because they lost out. Sucks for them.
This is a fine example of unlevel playing fields, but nice to see the liberals here are ok with it. I have no problem with it either.
The positions on these things are largely based on who started the thread.
ChumpDumper
05-22-2022, 05:24 PM
DMC bullied into admitting he has no take.
CosmicCowboy
05-22-2022, 05:38 PM
Back to the OP, they should spend every penny on desalination plants
pgardn
05-22-2022, 09:23 PM
Back to the OP, they should spend every penny on desalination plants
We may need them as well.
ElNono
05-22-2022, 11:18 PM
Not trying to be pedantic, but you keep using words I didn't use or even indicate. I didn't say it was unfair. I didn't say it was bad. I said it sucks for them. It sucks for people who get priced out and have no alternatives. Someone almost always loses when someone else wins. It doesn't suck for those buying the properties though. The article says the Portuguese (some of them) are protesting. They are doing that because they lost out. Sucks for them.
This is a fine example of unlevel playing fields, but nice to see the liberals here are ok with it. I have no problem with it either.
The positions on these things are largely based on who started the thread.
I mean, there's generally always some people unhappy about something, and that's the people you're going to hear from. I'm sure property owners in that area are pretty happy with the sudden surge of their property values, but you probably won't hear from them.
We all want to pay less for shit, and when stuff is expensive, it definitely sucks, but most of the time there are valid reasons for the value of things.
I live in Los Angeles right now, and despite I live well, I recognize property and rent prices here do suck for the vast majority of people. I don't think capping property or rent prices are a solution to it, the problem is lack of construction (be it because of permits, zoning laws, etc) and until that's addressed, it's going to keep sucking.
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