re: The house that sold for $800K over asking price speaks to the inequity of California

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that's a major reason why there is a housing shortage in these areas. most affluent areas in CA refuse to allow a Houston-like sprawl

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This doesn't make any sense. How to you not allow a private land owner to subdivide his property

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How to you not allow a private land owner to subdivide his property

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zoning and permitting, brah

the authoritarian tool of the local government

plus local building codes drive up the cost

this is all on top of the price of land and construction costs that are inflated

It makes no sense why a ranch style home should be there. The area needs to build vertical to support the demand. And why would companies flock to a location where they have to pay their workers tremendous amounts of money just to survive? As a shareholder I’d push for them to locate to an affordable area and save on labor costs

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There is no denying that they have some serious issues to face in the coming decades. But from everything I can see, there's no slow down in the building boom the tech companies are fronting.

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i said Big Tech is one of our primary national economic drivers. i'm not hating on Big Tech

the problem is going to be how the state and local governments respond. the article wants them to steal a bigger chunk of that industrial economy to spread it around. that's going to be a bad thing

just look at this quote form the article

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“Every day, people are on the road for an hour, two hours, each way. We’re wasting so much talent and skill and the disparity in income is just ridiculous,” said Clark. “The government’s job is defense, and building roads and schools. But another part of the government’s job is income distribution and too much of it has gone to the super-wealthy.”

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that's the meta issue

that kind of thinking is insane. like i said. killing the goose that lays golden eggs

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It makes no sense why a ranch style home should be there. The area needs to build vertical to support the demand. And why would companies flock to a location where they have to pay their workers tremendous amounts of money just to survive? As a shareholder I’d push for them to locate to an affordable area and save on labor costs

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Because that's where they want live, shareholders included.

It's really, really nice there. People are willing to pay more to live there, and they're not as likely to move with a company, they'll just switch companies. There's that much competition for their talents.

When a ranch like that sells, that close to Apple, you can bet it's a big wig with every intention to replace that ranch with something much grander. They're just buying the lot.

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Is that worse than the unfetterred development that much of Louisiana or a city like Houston have allowed?

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depends on who you're asking

worse for the super wealthy execs in Big Tech? no

worse for the middle and upper middle class workers across all industries in the area? big yes

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When you live in a almost paradise environment like much of California, with all these people, if you don't keep a clamp on things, it'll get out of hand in a heartbeat.

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this discussion tree is about why there isn't an adequate supply of homes (which is driving up the costs of homes like the one in OP)

you're showing the exact philosophy that is leading to a housing shortage in the area

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The skyline in CA still amazes me. You can see the mountains without having to look past a forest of McDonald and Taco Bell signs on poles. They value their quality of life in that way.

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and they pay for it, which means many people who work in the area can't afford to live there (in response to the article in OP)

like one of my early posts said, CA wants it all. they want a booming economy, affordable housing, AND pristine exclusivity

that's impossible. you can get 2 of those 3 but not all 3

You can see it just driving around there. Tesla's are a dime a dozen, as are mega dollar Porsches, S-class Mercs, and any other zooty car you care to name. Affluence draws more affluence.

It's a bummer for the service industry employees, but it's still a really nice place to live in most ways.

I still can't get used to the almost total lack of bugs. That's really weird for someone from Louisiana.

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It keeps my rent affordable,

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yes it incentivizes hoarding of the supply and disincentivizes the profit of future developments (where they'll have to start with an initially insane price to ensure they can keep up with the market). again, i'm not talking about YOUR situation. i'm talking about the general issues, specifically as they relate to the argument in the article in OP

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yes it incentivizes hoarding of the supply and disincentivizes the profit of future developments (where they'll have to start with an initially insane price to ensure they can keep up with the market). again, i'm not talking about YOUR situation. i'm talking about the general issues, specifically as they relate to the argument in the article in OP

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Explain the massive amount of development there that is is directly contrary to that. Even the non-union residential electrical contractors are swamped.

I'm sure the sellers really give a shite.