Median Priced California House. $800,000 ????

Not really. The exemption on cap gains is $250k (500k married) on a residence. That still might not cover it if you are moving from a nose bleed state to a more moderately priced one. Folks who sell a $750k house seem more willing to pay $250-300k for a $100k shack in a misplaced fear of paying taxes. Some still get torn down when they see their insurance bill.

I will let Bowman say if he feels "swamped" but bear in mind this is a state where they think more than one person for 6 acres is crowded.

When you are talking about a state almost as big as California with the a population similar to San Jose, it doesn't take many newcomers to look like a flood.

Mechanization and efficiency. I was at the Nebraska State Fair yesterday. Someone had hit and miss motors running. Antique tractors were on display. Those things had 30, 40, maybe 50 horsepower. Equipment like planters were sized accordingly. Modern tractors have maybe 150, 200 hp. IH markets a Steiger series tractor that has 600 hp. Irrigation is easier now because of center pivots. Farmers don't need to lay out pipe and check rows. They can sit in their lazy chairs and check on their pivots. There's an article here about farm changes.

A study by U-Haul? Give me a break.

That figure is misleading because CA housing median housing prices the San Francisco and Los Angeles areas are probably closer to $800k than $505k. Some rural CA desert areas have housing prices close to Nebraska's.

But you worry about property tax increases instead.

Not so much in California thanks to Proposition 13; increases are capped at no more than 2% p. a.

The devil is in the details

Your article.

Young Americans (25-39) are moving around at roughly double that of middle-age or older people. While moving into California remains elevated for younger people through 2019, the combination of some decline coupled with those moving out of state has driven down the number of younger people moving into California overall. The number of older Americans (60+) moving into California has fallen since 2014 and has recently become negative due to more elderly Californians moving out of state. The number of younger (25-39) and older residents moving out of California has also trended up since

Among U.S. destinations, Texas and Washington were at the top of the list among younger people, whereas low-cost and proximate areas of Nevada and Arizona dominated destinations among older Californians.

Less than 5 percent of foreign-born immigrants who arrived in the U.S. during the prior two years left California. This finding suggests that California is not simply a gateway to other U.S. destinations among recent foreign-born immigrants arriving in the state.

I guess someone needs to pick all of those tasteless oranges and strawberries you ship around the country.

They are now, along with all the other costs because some CDC bureaucrat decided people don't have to pay rent. People here are finding out, in a hot housing market, landlords sell the house and put their money somewhere that has a return. Rental property is getting harder to find and leases are not being renewed. It is even harder if the place you apply to rent finds out you are $15,000 behind at your last rental.

That is what happened

What could be dumber than keeping an investment that cost you a lot of money for the last 18 months with zero return in a market where your best return will come from selling it and using the lost rental as a write off against your profit?

Mostly the ones who didn't pay their rent for a year or more. They really are f***ed. It just reinforces the old line "We are from the government and we are here to help".

If I was a landlord and renting you bet I would have tried to sell the house insted of letting people have free rent. The housing market in many areas is doing great for sellers .

Some time, maybe a year or three, the housing market will probably go the other way and the prices of the houses will come back down. I think that hapened in Florida a few years back

A few months ago I had 2 stocks that were less than what I paid for them. Sold them at a loss. Using that loss to offset the profit on some other stocks and invested the money in stocks that are making a profit.

The real estate market has dipped a few times since the big crash but smart money rides it out and waits for a rebound before they sell. I know the house next to me was only worth about $50-60k after the crash but the bank stalled around until they could get $100k. In another year it might have been more but they wanted to clear their books and most of the stalling was exhausted anyway. They did almost 4 years waiting for the tax lien process to work it's way through the bureaucracy, then almost a year for the foreclosure, then they put it on the market. By then the market was a lot better. The ones who get screwed in down or up markets are the ones with little choice about buying or selling.

Just like the stock market and some other things, if you can wait it will cycle. Lumber was way up a few months back, but seems to be comming down now.

Yes, the ones that get screwed on most anything is when you are forced to buy or sell, or just want to and do not care about the price.