California Lies, Deceptions, of Real Property Value.
The International Institute of Nonviolence
By: Rev. Jermano
I have no approving words for California from its lies and deceptions which is sinking the State faster than the prediction California would fall off into the Ocean.。。。if you remember that prediction some years ago.
People blame the US financial collapse for the declining home values in California...and it was Reagan country at one time.. I just sit back and think how really Californians have been duped by the slicksters going back to proposition 13.
That was the year I came to California and began work as a pizza maker in Gilroy California, working my way up to being a machinist at the IBM Cottle Rd Plant in San Jose. I remember the Condo I bought in Majestic Morgan Hill up on the hill near Anderson Lake. I remember how high the interest rates were at that time...a whopping 16%. I had an IBM manager help me qualify for the 100,000 usd loan. And when interest rates did come down.....do you think he would help me refinance the loan? He wouldn't do it? Why I have no idea....But I know I quit that outfit when I discovered people were being promoted in IBM who sold the most drugs for the managers in charge at the plant. That is when I quit, took a 2nd out on the condo, and left the 16% interest condo to my manager...Thing is I lost my GI loan...
But I had no choice...I was not going to be pushed around by those people... And now here I am in China with my own home and family, I look at that mess and now see how the entire State is in disarray. They have movie actors running the State...as if actors know anything right about fiscal responsibility, or creating jobs, or balancing a budget.
First of all Arnold in my opinion is washed up...done....terminated...and has not done a postive thing for California..including his support for Bush to go to War that has put this State and Nation in the position of bad creditability. Arnold is one of the 911 cronies and is privy to top information that toppled Enron, that was the catalyst to 911. Why think there is any other reason, except for....
Let's look at housing prices in California. Has anyone taken a real look at how outrageously expensive they are? Who is ever going to believe houses are over 360,000 usd...in some neighborhoods. Even higher... to millions of dollars in Hollywood, and in the general Los Angeles area. People blame the financial crisis to the home devaluations? What? Are they that unaware? Earthquakes have been a daily factor in California....and you mean to tell me earthquake zone California makes home values go up?
I beg to differ people. I beg to differ big time...because homes would be worthless in a place you know is going to rattle into the ground...insurance or not.
People in China are talking about California's financial collapse... and how they can learn from it. I tell them....well you don't expect home values to remain high or stable when the entire State is in an earth quake fault zone. ..I don't care how many Hollywoods are there.
There are advisors to Governor Swartzneggar telling him to sell off State property. Well you know what? He won't get a nickles worth..just like when they tried to sell off the WaterGate Hotel in Washington..DC. No bids came in...what a laugh.
California is suppose to be the 6th largest economy in the world? I doubt it. China has a growing economy and they were smart to make things for the US markets, why aren't Americans smart enough to know they can make things for the Chinese markets, but they need to make more of them, at a lower price so Chinese can afford to buy them.
All I know is I would never buy California property again...unless they had true value because of its earthquake proneness...And it would not mean I would pay more than an average home say found in North Dakota, or Minnesota.
Given the gang problems still in California, and the drug problem still unsolved....how can anyone truthfully parade around telling how great California is? Even Bill Gates was smart enough to not live in California, where Microsoft was founded in Silicon Valley.
How to solve California's problem is to take the devaluation of homes as legitimate. Banks need to rewrite all loans to real value... The bad loans trashed and burned... and start over again.
Don't allow Movie Stars to be Governor, and require honest people to run the government. That means getting people who don't have money to run the government for a change....instead of rich campaigns taking over everything.....drowning out the truth.
California will survive...but I guarantee selling out the State to the Private sector or to China is the wrong thing to do. Home values across the United States should reflect the true nature of the region. Florida should have lower home values because of hurricanes, and the midwest and Texas lower because of tornado's. God does have laws of value to follow.