Why Californians are leaving

[GypsyT]

I found this interesting. I didn't realize how bad my old "Golden State" has gone;

 

"The median cost of a California house was nearly $800,000 in November, more than double the $336,000 you’d pay in Texas, according to Redfin housing market data. In neighboring Arizona and Nevada, it was $435,000 and $479,000, respectively. These are destination states for departing Californians."

 

Link; https://www.yahoo.com/news/why-californians-fleeing-once-golden-100055244.html

 

It makes me sad....

I had my best years there and made my money there. I still like CA a lot and most of my friends are there. I hope to return if housing etc will improve.

 

 

[Khyron]

Maybe in certain neighborhoods, but overall the median home prices are $450-550k.

TBH, I hope the home prices stay or even go up. I purchased in 2010 when the homes were being given away almost.

I don't owe much anymore and hope to retire next year. Fortunately, this won't be my main source of cash.

Maybe that is being a greedy, I hope not.🙂

I am curious to see how the Thai RD will view the home sale, as the profit isn't taxed until a certain number in the US, I will be under that threshold.

So If I sell the house in the fall, and am not a Thai tax resident until the following year, I wonder if it will be subject to Thai tax at all? If I show it in savings, then they shouldn't touch it.

I may talk to someone in the RD when we go back next year, I have heard the personnel are very helpful. 

So many questions...

Ca isn't the same as it was 30+ years ago, most people are not that optimistic unfortunately.

 

 

[sidjameson]

There's a global pattern of places to make money that have sky high prices and when ones making money phase is over it's prudent to leave.

London, Tokyo, Mumbai etc exactly the same.

[KhunLA]

Simple tax burden would be enough for me not to live there.   Silly RE price would make it almost impossible.  If you could afford a house there, you wouldn't have much pocket money to enjoy life, unl a millionaire.

 

Fires, earthquakes, droughts, water restrictions all add to ... 'why bother'.   

 

I lived in TN 5 yrs prior to TH ... -0- state income tax

Pennsylvania before that ... 2.3%, I think, at the time, now 4%

 

CA at 12%  ... would have meant $6k a year, $500 a month, from my salaried job. 

I live on that here 

 

Add the sales tax ...  California 7.250%

1st or 2nd highest state gasoline tax

Highest gasoline price 

Edited April 9 by KhunLA

[ChaiyaTH]

Funny most American travellers I came across lately, who are mid 20 or early 30 all seem to be from there.

[ChaiyaTH]

2 hours ago, KhunLA said:

CA at 12%  ... would have meant $6k a year, $500 a month, from my salaried job. 

I live on that here 

The fun with people who brag about their income in western countries, if you look at their actual costs, free spending power, quality of life, free time etc etc most people are actually better off with like 1000$ a month here, even most here, would say that is not enough here too lol.

Edited April 9 by ChaiyaTH

[KhunLA]

15 minutes ago, ChaiyaTH said:

The fun with people who brag about their income in western countries, if you look at their actual costs, free spending power, quality of life, free time etc etc most people are actually better off with like 1000$ a month here, even most here, would say that is not enough here too lol.

Since all is bought & paid for (same as if I lived in USA), I actually have not touched my Soc Sec this year, yet.  Simply taking ฿17k/<$500 from ATM ($500 max allowed, on my debit card), which is a bit more than my pension, that gets deposit in USA brokerage account.   Been living on that so far this year.

 

If in old house in Pa, then almost $400 of that would probably have gone to monthly RE Taxes (total of: state, county, local & school).  Majority of that is school tax, and I never had kids there, and for a crap school district.

 

Another $175 ish, would go toward Medicare Plan B, which the premium cost more per year, than I can spend over hear on healthcare, as fairly healthy.   Along with the deductibles, cost more than doc visits & meds here, if needed.

 

That's a lot of pocket money out the window for no return.

Low price of solar system & EVs here, all just icing on the cake.  No petrol or electric cost   ROI for those two, <5 to maybe 8 years, depending on use.

Edited April 9 by KhunLA

[eddyod]

If I had to live back in the states again, it would probably be CA. The job market was great and I got a good education.  Compared to PA where I was born, CA is far better. Having said that, I am glad not to be around the homeless in San Diego and the violence.

 

The high cost of real estate worked out well as I bought in 2009 and sold in 2021.

[GinBoy2]

I'm a native Central Valley guy. Lived most of my adult life either in the Bay Area or San Diego and I still love San Diego county, my youngest daughter and my Grandson still live there.

 

But OMG I just couldn't live with the traffic and all the people

anymore. 

 

Daughter is contemplating a move to North Carolina, which I'm not thrilled about, but I get it

[EVENKEEL]

Was just in Texas. Gas under 3.00 usd gal. Back in CA now paying $5.50

[zhounan]

Wokism.