Tags: california | real estate | policy

Leftists Can Make Ashes Expensive

Leftists Can Make Ashes Expensive
(Jason Kolenda/Dreamstime.com)

By with Michael R. Shannon
Saturday, 14 April 2018 09:30 AM Current | Bio | Archive

I recently wrote a column that complimented the left on its one semi-positive contribution to capitalism: The longer leftists are in power — the higher the prices homeowners get for existing houses when they sell and flee to a state not run by crazy people.

My proof at the time was an extremely modest — tiny is another description — home of only 848 sq. ft., which is slightly larger than a racquetball court. This doll house, located in the San Francisco Bay area, sold for an astounding $2 million. I would imagine money was no object to the buyer, but I’m certain the seller was dancing in the street.

Of course, there are limits to this phenomenon. Time mostly. The seller needs to go when the getting is still good. In Venezuela, for instance, the sale price for houses may be exorbitant, but no one has any money. Even worse, the money is so devalued and inflation so high, it would take one of the jets Obama used to give the Iranian mullahs hundreds of millions of dollars just to ship the down payment.

California is not that bad yet, but the clock is ticking. (You can enjoy all the previous column by clicking here.)

Now we have additional proof of the wisdom of my previous assertion. This time it’s a house that burned down and is currently on the market for $800,000, according to the Sacramento Bee. Perky realtor Holly Barr was quoted in the story as explaining the thoughtful sellers left the burnt-out shell still standing, “so you can remodel it versus tearing it down so you save a lot of money when you can leave a wall up and do a remodel versus a complete tear-down.”

That’s assuming your tastes run to "Early Fire Pit" living.

Comments on Facebook regarding the asking price were less positive. One woman grumped, “What has this area come to when a family earning good money cannot even afford to buy even a burnt-out wreck. Greed, pure greed from all concerned right here.”

What’s it has come to is the politicians she keeps electing make it impossible to build new housing without jumping through density, affordability, clean energy, and other bureaucratic hoops. When it is impossible or very difficult to add to the existing housing stock, the houses that are available see their prices skyrocket as potential (rich) owners outbid each other, running up the price.

It’s called supply and demand, a basic economics concept that is totally foreign to meddling leftist politicians.

Michael Reagan, the eldest son of President Reagan, is a Newsmax TV analyst. A syndicated columnist and author, he chairs The Reagan Legacy Foundation. Michael is an in-demand speaker with Premiere speaker’s bureau. Read more reports from Michael Reagan — Go Here Now.

Michael R. Shannon is a commentator, researcher for the League of American Voters, and an award-winning political and advertising consultant with nationwide and international experience. He is author of "Conservative Christian’s Guidebook for Living in Secular Times (Now with added humor!)." Read more of Michael Shannon's reports — Go Here Now.

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Reagan
I recently wrote a column that complimented the left on its one semi-positive contribution to capitalism: The longer leftists are in power — the higher the prices homeowners get for existing houses when they sell and flee to a state not run by crazy people.
california, real estate, policy
513
2018-30-14
Saturday, 14 April 2018 09:30 AM
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