The Unz Review - Mobile
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
 iSteve BlogTeasers
What Do These Expensive Cities Have in Common?

From WSMV:

The most expensive place to live in 2017 is revealed
Posted: Jan 23, 2017 12:05 AM PST

(CNN/MEREDITH) — They may be in opposite corners of the globe, but Hong Kong, Sydney and Vancouver have one thing in common.

They’re the top three most unaffordable housing markets in the world, according to the 13th Annual Demographia International Housing Affordability Survey. …

The report scored housing markets based on median house price and annual median household income to calculate affordability.

A total of 406 urban markets were analyzed in nine countries — Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, United Kingdom, and the United States — using data from the third quarter of 2016.

So it’s not exactly the entire world.

Here’s the complete list of the world’s most expensive housing markets in 2017:

1. Hong Kong, China

2. Sydney, NSW, Australia

2. Vancouver, BC, Canada

4. Auckland, New Zealand

5. San Jose, CA, US

6. Melbourne, VIC, Australia

7. Honolulu, HI, US

8. Los Angeles, CA, US

9. San Francisco, CA, US

10. Bournemouth & Dorset, UK

Bournemouth is a beach resort town on the south coast of England. All of these cities are on coastlines.

Other than Bournemouth, it looks pretty much like Chinese Money.

 
Email This Page to Someone

 Remember My Information



=>
Commenters to Ignore...to FollowEndorsed Only
[]
  1. High real estate prices somehow being desirable is just one of those crazy ideas that everyone seems to accept.

    Give people the power to keep out who and what they want to and then get prices as low as possible, I say.

    Read More
    • Replies: @Altai
    It's mental, we don't praise high food prices, why praise high prices for a place to live?

    And unlike high food prices where at least somebody doing something productive is benefiting, high housing costs are just a sunk cost of society going to the pockets of rentier parasites.

    The problem is the generation in power is largely not the one most affected, so nobody much cares. (Yet...) But the consequences of young people delaying family formation is toxic to society.

    , @5371
    The Chinese themselves don't accept it. They have repeatedly cracked down - and are doing so now - when prices in the leading mainland cities grow too rapidly.
    , @Neoconned
    I call bullshit on San Jose -- unless they're talking about Palo Alto or Mountain View.

    I've got 2 aunts and uncles in the Bay Area. 1 stays in the Berryessa area in east San Jose near the Diablo Mountains. Their old circa 70s condo is worth 200k$ -- and its in real good shape. Other aunt stays in Mountain View. Her fuckin house is worth 2.5$ million dollars & she has people every week leaving notes on her porch asking to pay cash to buy it.....

    She was telling me about how dog walkers there make 25$/hour there walking dogs and walk 5 dogs at a time -- 125$/hour to walk dogs -- and that's considered a middle class wage/salary.

    Vancouver I can believe. I was there this summer seeing my Chinese girl. Her parents lived in Richmond for years and moved back to China -- their daughter -- my gf lives in that house now....
    ReplyAgree/Disagree/Etc.
    AgreeDisagreeLOLTroll
    These buttons register your public Agreement, Disagreement, Troll, or LOL with the selected comment. They are only available to recent, frequent commenters who have saved their Name+Email using the 'Remember My Information' checkbox, and may also only be used once per hour.
    Sharing Comment via Twitter
    http://www.unz.com/isteve/what-do-these-expensive-cities-have-in-common/#comment-1739863
    More... This Commenter This Thread Hide Thread Display All Comments
  2. Has Chinese money squeezed Japanese money out of Honolulu? I would expect that to be an expensive city even without Chinese money.

    According to the Daily Mail football money (i.e. soccer players, coaches, managers) has been driving real estate up in Bournemouth.

    Read More
    • Replies: @Langley
    The Japaneses lost it in 1990. They are mostly tourists now.
    The Koreans bought from them at 50 cents on the dollar.

    The Chinese are behind all of the new building in Kakaako.
    , @Jason Liu
    Japanese in Hawaii are not very rich
  3. I’ve never been to Bournemouth but one of my best friends is from there.

    I think it has the best climate in the UK but also is renowned for its English language schools (that’s what I remember it for). I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)

    This very different to Cambridge where the weather is notoriously bad (since East Anglia is so flat we get hit with freezing Siberian winds or that’s what I was told) but is domestically being propped up by a lot of fleeing Londoners. White flight to Cambridge is definitely a thing (the area around the train station, which is quite far from city centre, is a commuter belt) and even thought Cambridge has English schools (two universities) and a lot of foreign money coming in, the local council seems very keen on preserving the character (as an example Cambridge city centre is simply not accessible to cars etc).

    Finally like SF we have a huge homeless population but incidentally the homeless here are very much English (unlike in London where foreigners have taken over). Cambridge like Edinburgh is definitely becoming a “whitopia” with corresponding liberal policies etc..

    Read More
    • Replies: @Yojimbo/Zatoichi
    "I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)"

    Speaking of East Anglia, what about Yarmouth? Almost as old as Brighton as far as seasidery, and they sill have the Bloaters. Famous picture in late '62 or '63 of Lennon and McCartney at the seaside, believe it was Yarmouth. Or it could have been Brighton.

    Jus seems that Yarmouth gets the shaft too often when compared with Brighton and Bournemouth. Some yrs ago some US televangelists were holding a conference in the UK, and they chose to hold it in Bournemouth of all places. Still no idea why they chose that area.
    , @Cowboy Shaw
    People commute from Bournemouth to London now too. It's a pretty popular student town too. Paul Theroux once said that the places on the coast that have bad reputations around England are not too bad, and yet some of the good reputation places are pretty awful. Bournemouth is nothing special. The entire south coast strikes me as probably the most alcoholic place in the world. Something to do with the sailing tradition I think. But mostly everyone seems to be in the pub, all of the time.
    , @Anonymous Nephew
    Sandbanks near Bournemouth is IIRC the most expensive UK real estate outside London - plenty of footballers and managers.

    Saffron Walden in North Essex is close to Cambridge and within London commuting distance, also a whitopia and expensive.
    , @AnotherDad

    (Bournemouth is the straight version of Brighton?)
     
    Seems like we ought to be able to negoitiate "apartheid-like" deals with gays. This is your turf, but you say out of this other straight turf. Being able to negoitiate such deals with various ethnic groups would be great. Everyone could get what they want.
  4. All of them except for Bournemouth are Pacific Rim cities. I’m very surprised to see Bournemouth on there. My family holidayed there when I was 5 or 6. They have actual palm trees there. I don’t think they’re native of course but they can grow ‘em there. Much sunnier climate than the rest of UK. Still very surprised to see it’s got higher rents than London for instance. I wouldn’t be a bit surprised that this might have something to do w/ the Islamization of London & Britain as well.

    Read More
    • Replies: @Michael Collins
    I have heard that Bournemouths 'palm trees' are a New Zealand native tree ti kouka
    or cabbage tree.
    More of a grass than a tree.

    https://en.wikipedia.org/wiki/Cabbage_tree_(New_Zealand)
  5. Anonymous says:     Show CommentNext New Comment

    Why are Sydney house prices so crazy? According to the helpful Frank Chung, the reasons for this are very inscrutable…

    http://www.news.com.au/finance/real-estate/buying/sydney-housing-worlds-second-most-unaffordable/news-story/c721c685e1ef2d616c3c89cb3009496f

    “The price-to-income ratio in Australia was below 3.0 in the late 1980s. All of Australia’s major housing markets have severely unaffordable housing and all have urban containment policy.”

    Read More
  6. Anonymous says:     Show CommentNext New Comment

    By ‘Bournemouth & Dorset’ they probably mean the upmarket millionaires’ playground of Poole Harbour.
    From what I’ve heard, Bournemouth, or at least large parts of it, have degenerated into the English south coast’s low rent, mult-cultural, mini-me version of Luton, Bedfordshire.

    Read More
  7. Interestingly, when it comes to most expensive cities for expats, Luanda, Angola tops or near-tops the list. See e.g. this article: http://www.bbc.com/news/business-36587681

    Of course, the expats live in fortified compounds, but life there is still bad, from what I’ve read, with constant power outages the norm.

    N’djamena, Chad is also apparently very expensive.

    Meanwhile some African cities are also on the bottom of the list (Windhoek and Cape Town) — maybe those don’t have proper expat compounds. Or fewer layers of corruption.

    Read More
    • Replies: @Ivy
    Cape Town offers cheap necklaces to go along with the cheap rents.
    , @Amasius
    Have you by chance read Paul Theroux's "Last Train to Zona Verde"?

    https://www.amazon.com/Last-Train-Zona-Verde-Ultimate-ebook/dp/B008P94QDA/ref=asap_bc?ie=UTF8

    "'This Is What the World Will Look Like When It Ends'" is a chapter title in reference to Luanda. It's so hellish that Theroux decides to shut his journey down then and there.
  8. I know you are trying to make a point, but come on, S.F.? How about rent control, building restrictions, other restrictive regulations. Thomas Sowell has written extensively on this for many years. China as the bad guy, which looks to be the point of the column, doesn’t fly. Money, in whatever form, needs investing. Otherwise it has no value. If someone in China, or Australia, or Two Dot Montana thinks that an investment in beach front property has value, why wouldn’t they invest their capital there? I don’t see where I’m supposed to start being afraid of Chinese capital here. There is no “Chinese money”, unless you’re talking about PRC investments. If so, maybe you could clarify this.

    Read More
    • Replies: @Steve Sailer
    My S.F. real estate salesman cousin's main business in the 1980s was selling old ladies' homes to Hong Kong millionaires paying cash (as in a suitcase full of cash).
    , @RadicalCenter
    We beg to differ. Here in downtown Los Angeles, we directly and immediately see the effect of the top one percent of China and to a lesser extent India coming here and paying crazy sale prices and rents that the rest of us cannot hope to compete with. It's not of course the only factor in the LA or SoCal housing affordability problem, but downtown and in some desirable coastal areas it is a noticeable factor in the mix.

    Of course, with the amazing weather here, there will always be rich people of some background bidding things up. But we didn't have to exacerbate things by letting so many rich Chinese in. Or so many Chinese in period.

    , @Anonym
    Plus the assumption is that the Chinese colonization will keep on going due to the Gweilo's continued foolishness. So the land is not worth what it is as it is currently developed. It is worth what it is after a skyscraper is constructed on it, with China's surplus population flooding into it, accustomed to living in such tenements.
    , @Autochthon
    Because it isn't their country. Foreigners may not own real property in China or India. Reciprocity is in order.

    You argue Chinese are no different than any other investor, but they are.

    Because we live here. That's why.

    , @Clyde

    China as the bad guy, which looks to be the point of the column, doesn’t fly. Money, in whatever form, needs investing. Otherwise it has no value.
     
    Get real. Many nations have restrictions on foreign investment in real estate. Mexico is a good example. If it were up to me I would severely limit Chinese real estate investment and purchases in America. They are our economic rivals and not our friends. They aim to replace us on the world stage so why should we allow them to buy up the USA via buying up real estate and driving up prices. Other nations would be on my shit-list but I would limit all foreign buying of US real estate. No eliminate but limit.
  9. Anon says:     Show CommentNext New Comment

    I think its a bit of a stretch to state that San Jose, CA is on the coastline.

    Read More
    • Replies: @(((Owen)))

    I think its a bit of a stretch to state that San Jose, CA is on the coastline.
     
    Not much of a stretch. The outlined part in blue is San Francisco Bay on the Pacific Ocean within the city limits.

    https://www.google.com/maps/place/San+Jose,+CA/@37.3545637,-122.4464132,10z/data=!4m5!3m4!1s0x808fcae48af93ff5:0xb99d8c0aca9f717b!8m2!3d37.3382082!4d-121.8863286
    , @Jefferson
    "I think its a bit of a stretch to state that San Jose, CA is on the coastline."

    San Jose is about as coastal a city as Sacramento.
  10. Naked officials: https://goo.gl/zYcK4S Can’t help wondering what kind of citizens they and their descendants will make? Are they sending their best?

    Read More
  11. Chinese

    Read More
    • Replies: @Achmed E. Newman

    Chinese
     
    Excellent, send jpegs, front, back, and a profile view (with no bulky jacket).

    Thx.

  12. @Zachary latif
    I've never been to Bournemouth but one of my best friends is from there.

    I think it has the best climate in the UK but also is renowned for its English language schools (that's what I remember it for). I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)

    This very different to Cambridge where the weather is notoriously bad (since East Anglia is so flat we get hit with freezing Siberian winds or that's what I was told) but is domestically being propped up by a lot of fleeing Londoners. White flight to Cambridge is definitely a thing (the area around the train station, which is quite far from city centre, is a commuter belt) and even thought Cambridge has English schools (two universities) and a lot of foreign money coming in, the local council seems very keen on preserving the character (as an example Cambridge city centre is simply not accessible to cars etc).

    Finally like SF we have a huge homeless population but incidentally the homeless here are very much English (unlike in London where foreigners have taken over). Cambridge like Edinburgh is definitely becoming a "whitopia" with corresponding liberal policies etc..

    “I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)”

    Speaking of East Anglia, what about Yarmouth? Almost as old as Brighton as far as seasidery, and they sill have the Bloaters. Famous picture in late ’62 or ’63 of Lennon and McCartney at the seaside, believe it was Yarmouth. Or it could have been Brighton.

    Jus seems that Yarmouth gets the shaft too often when compared with Brighton and Bournemouth. Some yrs ago some US televangelists were holding a conference in the UK, and they chose to hold it in Bournemouth of all places. Still no idea why they chose that area.

    Read More
  13. How is New York not on this list? It is certainly more expensive than LA.

    Read More
  14. Bornemouth will include Sandbanks which is an outrageously expensive place. The affordability equation is about average income to house price, and Auckland more than just about anywhere has been utterly destroyed by this. Driving along the ridgetops in Auckland, looking out towards the Hauraki Gulf, one can only say goddam this is a fine piece of global real estate. The greater harbour is just astonishing. And the Chinese are not dumb. They play a long game and have it worked out. The money is now fleeing into other property markets in NZ.

    Read More
  15. @Zachary latif
    I've never been to Bournemouth but one of my best friends is from there.

    I think it has the best climate in the UK but also is renowned for its English language schools (that's what I remember it for). I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)

    This very different to Cambridge where the weather is notoriously bad (since East Anglia is so flat we get hit with freezing Siberian winds or that's what I was told) but is domestically being propped up by a lot of fleeing Londoners. White flight to Cambridge is definitely a thing (the area around the train station, which is quite far from city centre, is a commuter belt) and even thought Cambridge has English schools (two universities) and a lot of foreign money coming in, the local council seems very keen on preserving the character (as an example Cambridge city centre is simply not accessible to cars etc).

    Finally like SF we have a huge homeless population but incidentally the homeless here are very much English (unlike in London where foreigners have taken over). Cambridge like Edinburgh is definitely becoming a "whitopia" with corresponding liberal policies etc..

    People commute from Bournemouth to London now too. It’s a pretty popular student town too. Paul Theroux once said that the places on the coast that have bad reputations around England are not too bad, and yet some of the good reputation places are pretty awful. Bournemouth is nothing special. The entire south coast strikes me as probably the most alcoholic place in the world. Something to do with the sailing tradition I think. But mostly everyone seems to be in the pub, all of the time.

    Read More
  16. I doubt that SF and San Jose are highly impacted by Chinese money. Real estate prices have been going up since the 1980′s when Silicon Valley started its climb.

    Read More
    • Replies: @DWB
    Check the data, Larry. While it is true that Silicon Valley money has helped fuel real estate climbs, the last surge was like previous ones on steroids. (And this ignores the fact that, despite what SJW say, tech workers are not overwhelmingly frat guys from Illinois, no matter what 'activists' bitching about the commuter shuttles would have you believe).

    How many properties in SF are sitting right now vacant? I've seen data that it is around 10%. These are not even being used for AirBnB.

    If you prefer anecdotes, here is a couple. We bought our house last year, returning to the Bay Area after a few years living in France for work. We now could not afford the house we sold in Palo Alto just a few years ago. Went to many open houses; one was a 2500 square foot house (with basically zero lot lines). It was listed for $2.3 million dollars, had 30 offers, and sold for a million dollars over asking price.

    Another we looked at, at the foot of Twin Peaks (the two central hills in SF - for those familiar with the area, the Sutro broadcast tower visible for miles around sits on top of one) that said "House has been vacant for five years as investor property." It was owned by a family in Shanghai that bought it brand new, site-unseen, and let it sit for five years without ever setting foot in it, of the realtor is to be believed.
    , @Olorin
    Guess again.

    http://www.bizjournals.com/sanfrancisco/blog/real-estate/2016/04/chinese-investors-record-california.html

    http://www.cnbc.com/2016/12/22/chinese-money-moving-to-us-commercial-property.html

    http://wolfstreet.com/2016/05/18/silicon-valley-housing-market-hit-by-china-tech-ipo-swoon-stock-market/

    Buying up properties at 5 to 7 percent a year amounts to owning half of them in a decade.
    , @Neoconned
    No there's a shitload of Chinese money in the Bay Area. While the overall trend is up either way -- its especially in Mountain View/Palo Alto and San Francisco.

    A 1-br apartment in SF with rats and roaches costs about 1.3-1.5 million dollars due to Chinese investments.
  17. Why would one take a survey of housing prices in the Anglosphere/Pacific? It doesn’t really seem like a coherent unit.

    Read More
  18. The man who runs the survey, Wendall Cox, claims urban growth boundaries are to blame.

    Read More
  19. One expensive part of Bournemouth is the Sandbanks peninsula. I can confirm that it is a lovely spot. It’s not the only lovely spot on the south coast of England either: the New Forest, the Isle of Purbeck, the Isle of Wight, ….. but none of those is a city.

    As for “Cambridge where the weather is notoriously bad (since East Anglia is so flat we get hit with freezing Siberian winds …)” seems to me to be junk. My own theory of why people complain about the wind in Cambridge is because (i) the complainers are often Londoners, and (ii) it’s a cycling city. The wind is more noticed by cyclists. And Cambridge is dry: ” The annual rainfall in the Cambridge area over the period 1961-90 averaged 563mm, which makes the area one of the driest in Western Europe north of the Pyrenees. ” In 2011 it was 380.4 mm i.e. 15 inches: bloody near arid. Its water supply is all artesian; irrigation is heavily used.

    Mind you, I still think that Oxford and Edinburgh would be better cities to live in. And London would be OK if you were in the helicoptering classes.

    Read More
  20. @Zachary latif
    I've never been to Bournemouth but one of my best friends is from there.

    I think it has the best climate in the UK but also is renowned for its English language schools (that's what I remember it for). I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)

    This very different to Cambridge where the weather is notoriously bad (since East Anglia is so flat we get hit with freezing Siberian winds or that's what I was told) but is domestically being propped up by a lot of fleeing Londoners. White flight to Cambridge is definitely a thing (the area around the train station, which is quite far from city centre, is a commuter belt) and even thought Cambridge has English schools (two universities) and a lot of foreign money coming in, the local council seems very keen on preserving the character (as an example Cambridge city centre is simply not accessible to cars etc).

    Finally like SF we have a huge homeless population but incidentally the homeless here are very much English (unlike in London where foreigners have taken over). Cambridge like Edinburgh is definitely becoming a "whitopia" with corresponding liberal policies etc..

    Sandbanks near Bournemouth is IIRC the most expensive UK real estate outside London – plenty of footballers and managers.

    Saffron Walden in North Essex is close to Cambridge and within London commuting distance, also a whitopia and expensive.

    Read More
    • Replies: @RadicalCenter
    There can't be enough wealthy professional "football" players, coaches and managers to meaningfully impact a real estate market of any size. Just makes for an interesting story.
  21. Steve, you made the list!

    Along with the Chinese money, geography definitely matters.

    Lived in Vancouver back in 88-89, as wife had a post-doc at UBC. The Hong Kong money was coming in at the time and the paper said the city had a 0.2% vaccany rate. Apartment hunting was a nightmare, especially coming up from–still relatively cheap at that time–Austin. Finally found a reasonably nice accomodation far east, near Burnaby, but actually close to Nanaimo Skytrain station, which a Chinese guy was renting out before he moved there. (Which he did 6 months later and booted us.)

    But the deal is … it’s essentially the Canadians’ California, but incredibly constrained by the mountains and the border. And within that if you want to be close in to the city … you pay! But it’s a gorgeous place. If it wasn’t for “diversity” i can’t think of any metro in Canada where one would rather live.

    Read More
    • Replies: @CrazyCanuck
    UBC = University of a Billion Chinese
    , @BenKenobi
    I've been living in Vancouver's downtown core for 5 years now. There is no other place in Canada I would want to live at this point. Almost never snows or dips below zero degrees.

    As for the diversity, eh whatever. It's not the kind that will get you stabbed on the street.
    , @Weyyar
    Canadians have been ethnically cleansed from Vancouver by Chinese kleptocrats.
  22. @Zachary latif
    I've never been to Bournemouth but one of my best friends is from there.

    I think it has the best climate in the UK but also is renowned for its English language schools (that's what I remember it for). I could be very wrong but it seems to have a holiday town-island vibe sort of culture (Bournemouth is the straight version of Brighton?)

    This very different to Cambridge where the weather is notoriously bad (since East Anglia is so flat we get hit with freezing Siberian winds or that's what I was told) but is domestically being propped up by a lot of fleeing Londoners. White flight to Cambridge is definitely a thing (the area around the train station, which is quite far from city centre, is a commuter belt) and even thought Cambridge has English schools (two universities) and a lot of foreign money coming in, the local council seems very keen on preserving the character (as an example Cambridge city centre is simply not accessible to cars etc).

    Finally like SF we have a huge homeless population but incidentally the homeless here are very much English (unlike in London where foreigners have taken over). Cambridge like Edinburgh is definitely becoming a "whitopia" with corresponding liberal policies etc..

    (Bournemouth is the straight version of Brighton?)

    Seems like we ought to be able to negoitiate “apartheid-like” deals with gays. This is your turf, but you say out of this other straight turf. Being able to negoitiate such deals with various ethnic groups would be great. Everyone could get what they want.

    Read More
  23. @AnotherDad
    Steve, you made the list!

    Along with the Chinese money, geography definitely matters.

    Lived in Vancouver back in 88-89, as wife had a post-doc at UBC. The Hong Kong money was coming in at the time and the paper said the city had a 0.2% vaccany rate. Apartment hunting was a nightmare, especially coming up from--still relatively cheap at that time--Austin. Finally found a reasonably nice accomodation far east, near Burnaby, but actually close to Nanaimo Skytrain station, which a Chinese guy was renting out before he moved there. (Which he did 6 months later and booted us.)

    But the deal is ... it's essentially the Canadians' California, but incredibly constrained by the mountains and the border. And within that if you want to be close in to the city ... you pay! But it's a gorgeous place. If it wasn't for "diversity" i can't think of any metro in Canada where one would rather live.

    UBC = University of a Billion Chinese

    Read More
  24. @Peter Akuleyev
    Has Chinese money squeezed Japanese money out of Honolulu? I would expect that to be an expensive city even without Chinese money.

    According to the Daily Mail football money (i.e. soccer players, coaches, managers) has been driving real estate up in Bournemouth.

    The Japaneses lost it in 1990. They are mostly tourists now.
    The Koreans bought from them at 50 cents on the dollar.

    The Chinese are behind all of the new building in Kakaako.

    Read More
  25. @Peter Akuleyev
    Has Chinese money squeezed Japanese money out of Honolulu? I would expect that to be an expensive city even without Chinese money.

    According to the Daily Mail football money (i.e. soccer players, coaches, managers) has been driving real estate up in Bournemouth.

    Japanese in Hawaii are not very rich

    Read More
    • Replies: @Langley
    Local Japanese in Hawaii have political power. Local Chinese in Hawaii have money.
    These groups are considered different from their foreign counterparts
  26. “Real estate is the king of assets”, as the saying goes

    There’s a reason why all the corrupt mobster types in Hong Kong/Taiwan have their hands in real estate, and why Korea/Japan restricts foreign ownership of real estate. Same reason why the PRC does not technically let people “own” real estate, only “rented” from the government, so they reserve the option of cracking down on anyone who gets too rich/influential from real estate.

    Read More
  27. @Jason Liu
    Japanese in Hawaii are not very rich

    Local Japanese in Hawaii have political power. Local Chinese in Hawaii have money.
    These groups are considered different from their foreign counterparts

    Read More
  28. @Jimbobla
    I know you are trying to make a point, but come on, S.F.? How about rent control, building restrictions, other restrictive regulations. Thomas Sowell has written extensively on this for many years. China as the bad guy, which looks to be the point of the column, doesn't fly. Money, in whatever form, needs investing. Otherwise it has no value. If someone in China, or Australia, or Two Dot Montana thinks that an investment in beach front property has value, why wouldn't they invest their capital there? I don't see where I'm supposed to start being afraid of Chinese capital here. There is no "Chinese money", unless you're talking about PRC investments. If so, maybe you could clarify this.

    My S.F. real estate salesman cousin’s main business in the 1980s was selling old ladies’ homes to Hong Kong millionaires paying cash (as in a suitcase full of cash).

    Read More
    • Replies: @Bill P
    The "suitcase full of cash" is not just a figure of speech, BTW. I've seen them myself.

    When I first went to China and stayed with a friend's parents for a couple months before getting my own apartment, his dad, a construction tycoon, used to stow the suitcases in my room. As a large young foreigner I'd guess I was used to deter snooping. Chinese are prone to walking in and out of each other's houses unannounced, but that was a custom I never fully accepted.
    , @Langley
    The Japanese did the same thing in Hawaii in the 1980's (after they bought all of the beachfront hotels in Waikiki).

    https://en.wikipedia.org/wiki/Genshiro_Kawamoto
    , @Daniel H
    Try and move $9,000 in or out of the country by bank wire or transfer without notifying the IRS and you can get an indictment for structuring transactions in order to evade reporting requirement. Bring in $2 million of cash from Beijing in a suitcase or however and purchase property and no questions need to be asked or are asked.
    , @Jimbobla
    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place. And come-on, my nephews-wife's-cousins-father in laws agent, or whatever that was. This is how propaganda is presented these days. Not overtly, but subtly, meant to leave one with an impression, a prejudice to see someone or a group in a negative instead of a neutral light. China as the enemy, as is Russia. Not so many people are buying what you are selling these days. Let's do business with whoever wants our business. Caveat Emptor refers to the buyer, not the seller. You want to offer me a premium for my product? Ring my doorbell. We'll do business. I'm not in the business of catching multi-national crooks. Cash is king.
  29. Chinese money is not a complete explanation for prices in Honolulu or Hawaii. The Japanese took over the Democrat party in 1954. Their regulations, their placement of their family and friends in state jobs has increased the price of everything in Hawaii. It is a fixed game. Back in the 1960s my mother said that Honolulu was as corrupt as Chicago. It has not gotten any less corrupt. Unlike Chicago though they don’t kill you. Your phone just stops raining.

    Read More
  30. Chinese money is not a complete explanation for prices in Honolulu or Hawaii.

    The Japanese took over the Democrat party and the state in 1954. Since then their regulation and the placement of their friends and family in state jobs has increased the cost of everything here. It is a fixed game.

    Back in the 1960′s my mother said that Honolulu was as corrupt as Chicago. It has not gotten better since then.

    Here in Hawaii they do not kill you. Your phone just stops ringing.

    Read More
    • Replies: @anonguy

    Chinese money is not a complete explanation for prices in Honolulu or Hawaii.

    The Japanese took over the Democrat party and the state in 1954. Since then their regulation and the placement of their friends and family in state jobs has increased the cost of everything here. It is a fixed game.
     
    Another big factor that most people outside Hawaii don't understand is the land ownership patterns, that the big estates still own so much of the land and lease it out rather than fee simple ownership.

    There is more too, the government/military ownership of land for instance. There are all sorts of factors that keep Hawaii unaffordable, but the prime one is that a lot of people would like to live there and that bids up prices of the available slots.

    This is true of any expensive place.

    We could enact the same policies, e.g., urban containment policies, of these unaffordable cities on affordable cities like Scranton Pa and it wouldn't do a thing to make them unaffordable.
    , @RadicalCenter
    Well, the Japanese in Hawaii had better get ready for the Filipinos to start pushing into political power and then into more state and local government jobs.

    The Japanese population of Hawaii is somewhat older and apparently is not growing.

    The Filipino population of Hawaii is younger and growing steadily.

    First Guam and then Hawaii are going to end up as somewhat safer, less impoverished outposts of the Philippines.
  31. @Larry, San Francisco
    I doubt that SF and San Jose are highly impacted by Chinese money. Real estate prices have been going up since the 1980's when Silicon Valley started its climb.

    Check the data, Larry. While it is true that Silicon Valley money has helped fuel real estate climbs, the last surge was like previous ones on steroids. (And this ignores the fact that, despite what SJW say, tech workers are not overwhelmingly frat guys from Illinois, no matter what ‘activists’ bitching about the commuter shuttles would have you believe).

    How many properties in SF are sitting right now vacant? I’ve seen data that it is around 10%. These are not even being used for AirBnB.

    If you prefer anecdotes, here is a couple. We bought our house last year, returning to the Bay Area after a few years living in France for work. We now could not afford the house we sold in Palo Alto just a few years ago. Went to many open houses; one was a 2500 square foot house (with basically zero lot lines). It was listed for $2.3 million dollars, had 30 offers, and sold for a million dollars over asking price.

    Another we looked at, at the foot of Twin Peaks (the two central hills in SF – for those familiar with the area, the Sutro broadcast tower visible for miles around sits on top of one) that said “House has been vacant for five years as investor property.” It was owned by a family in Shanghai that bought it brand new, site-unseen, and let it sit for five years without ever setting foot in it, of the realtor is to be believed.

    Read More
    • Replies: @Steve Sailer
    A millionaire friend pointed out to me in 15 years ago when I visited his house in Del Mar, CA, that the more expensive the neighborhood, the fewer houses was occupied. Houses a few blocks from the beach were occupied 90%+ of the time, but houses on the beach were occupied maybe 10% of the time by zillionaires and NFL quarterbacks.

    About 5 years ago, people in Manhattan started to notice that the huge new luxury towers near Central Park weren't doing much to increase supply of housing since they buyers tended to be foreign oligarchs who only occupied them during, say, Fashion Week.

    , @Larry, San Francisco
    Hmm, I don't see any unoccupied housing where I live but it is not a fashionable part of the city. However, my house has doubled in value over the last 5 years though. My girlfriend lives in Pacifica which is down the coast and housing costs there are a little less insane even though it is a nice area. Could be that Chinese money is buying houses in area they know around Palo Alto and Los Altos which have insane prices forcing wealthy people into other neighborhoods. The SVP who heads my group is looking to move and even though she probably earns more than 400K she is having a hard time finding a place.
  32. Steve et al-

    this is why, as they say, “numbers matter.”

    Now, without saying that ‘Chinese money’ is good or bad, the reality is, in a nation with 1.4 billion people, one per cent is still 14 million (roughly, the population of the Netherlands).

    And that ignores Hong Kong and Taiwan, which add another 30 or so million, as well as large overseas Chinese communities in Malaysia and Indonesia.

    The sheer size of Chinese wealth in absolute numbers, if focused on markets with short supply (like real estate in a handful of Pacific coastal cities) will have a distorting effect.

    I now live in San Francisco, a city that is aggressively “pro immigrant” in just about every way. At the same time, long-time residents (defined conveniently here, as someone who has lived in SF for more than 10 years) complain loudly about “gentrification” and how “tech workers” are driving out the people who “make San Francisco real.”

    The amount of effort to square such cognitive dissonance would exhaust mere mortals. As I have said more than once, the problem in their minds is an ‘invasion of tech bros,’ whom despite all reality they see as a group of fraternity brothers from the University of Illinois.

    Apparently, a guy who enters the country illegally from Oaxaca is to be welcomed without question, but an imagined AMERICAN who comes here from Urbana is an invader who should go home.

    It’s insane.

    Read More
    • Replies: @Steve Sailer
    "The sheer size of Chinese wealth in absolute numbers, if focused on markets with short supply (like real estate in a handful of Pacific coastal cities) will have a distorting effect."

    Right.

    One thing I like to remind people of is that because of where I grew up I was exposed to many current trends that other people are only noticing now. For example, I was fascinated by Diversity Patterns when I was at UCLA MBA school in 1980-82: stuff like, there are a lot of rich Chinese people in this world, there are a lot of smart Indian academics, stuff like that that is common knowledge today, but was self-evident in places like San Francisco and San Marino, CA in 1982.

  33. @Jimbobla
    I know you are trying to make a point, but come on, S.F.? How about rent control, building restrictions, other restrictive regulations. Thomas Sowell has written extensively on this for many years. China as the bad guy, which looks to be the point of the column, doesn't fly. Money, in whatever form, needs investing. Otherwise it has no value. If someone in China, or Australia, or Two Dot Montana thinks that an investment in beach front property has value, why wouldn't they invest their capital there? I don't see where I'm supposed to start being afraid of Chinese capital here. There is no "Chinese money", unless you're talking about PRC investments. If so, maybe you could clarify this.

    We beg to differ. Here in downtown Los Angeles, we directly and immediately see the effect of the top one percent of China and to a lesser extent India coming here and paying crazy sale prices and rents that the rest of us cannot hope to compete with. It’s not of course the only factor in the LA or SoCal housing affordability problem, but downtown and in some desirable coastal areas it is a noticeable factor in the mix.

    Of course, with the amazing weather here, there will always be rich people of some background bidding things up. But we didn’t have to exacerbate things by letting so many rich Chinese in. Or so many Chinese in period.

    Read More
    • Replies: @anon
    La County has cheaper places like Palmdale which is why the county median is 550,000 versus 665,000 in OC. The worst effective market I think is Orange County because of the Chinese. Irvine could be about 200,000 cheaper and the OC would not be 665,000 median housing prices. Downtown LA and the beach areas are the worst along with the Sam Gabriel areas with Chinese.
  34. @Wency
    Interestingly, when it comes to most expensive cities for expats, Luanda, Angola tops or near-tops the list. See e.g. this article: http://www.bbc.com/news/business-36587681

    Of course, the expats live in fortified compounds, but life there is still bad, from what I've read, with constant power outages the norm.

    N'djamena, Chad is also apparently very expensive.

    Meanwhile some African cities are also on the bottom of the list (Windhoek and Cape Town) -- maybe those don't have proper expat compounds. Or fewer layers of corruption.

    Cape Town offers cheap necklaces to go along with the cheap rents.

    Read More
  35. @biz
    How is New York not on this list? It is certainly more expensive than LA.

    Not so sure about that.

    Read More
  36. @Anonymous Nephew
    Sandbanks near Bournemouth is IIRC the most expensive UK real estate outside London - plenty of footballers and managers.

    Saffron Walden in North Essex is close to Cambridge and within London commuting distance, also a whitopia and expensive.

    There can’t be enough wealthy professional “football” players, coaches and managers to meaningfully impact a real estate market of any size. Just makes for an interesting story.

    Read More
  37. They inflate the prices on coastal land. They are also largely responsible for the ridiculous costs of college tuitions. Did I fail to mention the damage they cause our currency? Oh, and the automobile insurance rates where they reside are through the roofs. All of this for the poo-poo platter at Johnny Wang’s? Pass.

    Read More
  38. @Guy de Champlagne
    High real estate prices somehow being desirable is just one of those crazy ideas that everyone seems to accept.

    Give people the power to keep out who and what they want to and then get prices as low as possible, I say.

    It’s mental, we don’t praise high food prices, why praise high prices for a place to live?

    And unlike high food prices where at least somebody doing something productive is benefiting, high housing costs are just a sunk cost of society going to the pockets of rentier parasites.

    The problem is the generation in power is largely not the one most affected, so nobody much cares. (Yet…) But the consequences of young people delaying family formation is toxic to society.

    Read More
    • Replies: @Karl
    40. Altai > rentier parasites

    here we go again with the SJW voodoo economics

    You know why you are able to buy fire insurance, Altai?

    It's ONLY because speculators are willing to put their money on the table and SPECULATE that your house WILL NOT burn down this year


    PS: HongKong may look expensive if you live the "expat lifestyle". but believe m.... the locals aren't paying $8 for their morning cup of coffee.

    And they get to look at pretty girls in tight skirts rushing to the office, while they drink their 75-cent coffee

  39. @Guy de Champlagne
    High real estate prices somehow being desirable is just one of those crazy ideas that everyone seems to accept.

    Give people the power to keep out who and what they want to and then get prices as low as possible, I say.

    The Chinese themselves don’t accept it. They have repeatedly cracked down – and are doing so now – when prices in the leading mainland cities grow too rapidly.

    Read More
  40. @Langley
    Chinese money is not a complete explanation for prices in Honolulu or Hawaii.

    The Japanese took over the Democrat party and the state in 1954. Since then their regulation and the placement of their friends and family in state jobs has increased the cost of everything here. It is a fixed game.

    Back in the 1960's my mother said that Honolulu was as corrupt as Chicago. It has not gotten better since then.

    Here in Hawaii they do not kill you. Your phone just stops ringing.

    Chinese money is not a complete explanation for prices in Honolulu or Hawaii.

    The Japanese took over the Democrat party and the state in 1954. Since then their regulation and the placement of their friends and family in state jobs has increased the cost of everything here. It is a fixed game.

    Another big factor that most people outside Hawaii don’t understand is the land ownership patterns, that the big estates still own so much of the land and lease it out rather than fee simple ownership.

    There is more too, the government/military ownership of land for instance. There are all sorts of factors that keep Hawaii unaffordable, but the prime one is that a lot of people would like to live there and that bids up prices of the available slots.

    This is true of any expensive place.

    We could enact the same policies, e.g., urban containment policies, of these unaffordable cities on affordable cities like Scranton Pa and it wouldn’t do a thing to make them unaffordable.

    Read More
  41. @Steve Sailer
    My S.F. real estate salesman cousin's main business in the 1980s was selling old ladies' homes to Hong Kong millionaires paying cash (as in a suitcase full of cash).

    The “suitcase full of cash” is not just a figure of speech, BTW. I’ve seen them myself.

    When I first went to China and stayed with a friend’s parents for a couple months before getting my own apartment, his dad, a construction tycoon, used to stow the suitcases in my room. As a large young foreigner I’d guess I was used to deter snooping. Chinese are prone to walking in and out of each other’s houses unannounced, but that was a custom I never fully accepted.

    Read More
  42. @Anon
    I think its a bit of a stretch to state that San Jose, CA is on the coastline.

    I think its a bit of a stretch to state that San Jose, CA is on the coastline.

    Not much of a stretch. The outlined part in blue is San Francisco Bay on the Pacific Ocean within the city limits.

    https://www.google.com/maps/place/San+Jose,+CA/@37.3545637,-122.4464132,10z/data=!4m5!3m4!1s0x808fcae48af93ff5:0xb99d8c0aca9f717b!8m2!3d37.3382082!4d-121.8863286

    Read More
    • Replies: @DWB
    This map is extremely misleading. The city of San Jose "touches" the southern tip of the SF Bay because a one-mile wide finger of the city that is basically the slough of the Guadalupe River, with some low-rise office buildings projects to some glorified mud flats.

    The "North San Jose" area (Alviso) ain't exactly Newport Beach.
  43. @Steve Sailer
    My S.F. real estate salesman cousin's main business in the 1980s was selling old ladies' homes to Hong Kong millionaires paying cash (as in a suitcase full of cash).

    The Japanese did the same thing in Hawaii in the 1980′s (after they bought all of the beachfront hotels in Waikiki).

    https://en.wikipedia.org/wiki/Genshiro_Kawamoto

    Read More
  44. @AnotherDad
    Steve, you made the list!

    Along with the Chinese money, geography definitely matters.

    Lived in Vancouver back in 88-89, as wife had a post-doc at UBC. The Hong Kong money was coming in at the time and the paper said the city had a 0.2% vaccany rate. Apartment hunting was a nightmare, especially coming up from--still relatively cheap at that time--Austin. Finally found a reasonably nice accomodation far east, near Burnaby, but actually close to Nanaimo Skytrain station, which a Chinese guy was renting out before he moved there. (Which he did 6 months later and booted us.)

    But the deal is ... it's essentially the Canadians' California, but incredibly constrained by the mountains and the border. And within that if you want to be close in to the city ... you pay! But it's a gorgeous place. If it wasn't for "diversity" i can't think of any metro in Canada where one would rather live.

    I’ve been living in Vancouver’s downtown core for 5 years now. There is no other place in Canada I would want to live at this point. Almost never snows or dips below zero degrees.

    As for the diversity, eh whatever. It’s not the kind that will get you stabbed on the street.

    Read More
    • Replies: @Formerly CARealist
    zero degrees Fahrenheit or zero degrees Celsius? Big difference.
  45. The most important question is not what those cities have in common, but what the cities not on the list have that’s different.

    Really high incomes in a few industries to make the prices seem less outrageous:
    * New York
    * London

    Lots of space to spread into:
    * Dallas
    * Chicago
    * Tokyo
    * Paris

    Rational development policy that allows dense construction when prices rise:
    * Tokyo
    * Paris
    * Barcelona
    * Osaka
    * Madrid
    * Mexico City
    * Taipei
    * Milan
    * Seoul
    * Nagoya

    Immigration restrictions to reduce population pressure:
    * Seoul
    * Tokyo
    * Osaka
    * Nagoya

    Cities on several of those lists can be really cheap, e.g. super affordable Osaka with the cultural and business and infrastructure facilities of a city of 18 million and prices like Kansas City.

    Read More
  46. I wish I had .01% of the money going to local legislatures to get them to approve all of the new high rise building going on in Kakaaka.

    Read More
  47. Hawaii is basically insolvent.

    Unfunded obligations (e.g., state retirement fund, rail, bonds…) are unplayable.

    This has been hidden by lies and opaque accounting.

    Bills are coming due.

    The folks in charge are trying to extract the last drops/keep the game going for a little while longer.

    Chinese in China may be in a similar situation. They want to get their money to a “safe” place.

    The crooks in charge here will try to take these folks like they took the last ones.

    We live in interesting times. An early Kung Hei Fat Choi from Lang Lee.

    Read More
  48. Climate-wise, Vancouver is to Canada as San Diego is to the United States. Lotsa youthful, outdoorsy types want to live there to take advantage of four season playtime. Whistler for world-class skiing, the Gulf Islands and inside passage for yachting and kayaking, backpacking in the Canadian Cascades, salmon and Halibut fishing, great diving. It’s like a year-round summer camp. Nice looking women too.

    Read More
    • Replies: @Steve Sailer
    Vancouver is so much better in terms of geography/climate than any other big Canadian city.
    , @Jefferson
    "Climate-wise, Vancouver is to Canada as San Diego is to the United States."

    What an extremely horrible comparison. It snows in Vancouver while the temperature most days in San Diego during it's so called "winter season" stays within the 60F-to-65F degree mark.

    The Christmas song Baby It's Cold Outside definitely does not apply to a Christmas in San Diego.

  49. @Steve Sailer
    My S.F. real estate salesman cousin's main business in the 1980s was selling old ladies' homes to Hong Kong millionaires paying cash (as in a suitcase full of cash).

    Try and move $9,000 in or out of the country by bank wire or transfer without notifying the IRS and you can get an indictment for structuring transactions in order to evade reporting requirement. Bring in $2 million of cash from Beijing in a suitcase or however and purchase property and no questions need to be asked or are asked.

    Read More
    • Replies: @Steve Sailer
    I don't know where my cousin's Hong Kong buyers in SF were getting their suitcases full of cash in the 1980s.

    But yeah there's not a lot of federal interest in real estate money. Presumably the 1980s Hong Kong millionaires were making their money in pretty honest British-run Hong Kong, but today's mainland millionaires buying California golf courses are probably not wholly aboveboard in why they are so desperate to get their money out of China.

  50. @Jimbobla
    I know you are trying to make a point, but come on, S.F.? How about rent control, building restrictions, other restrictive regulations. Thomas Sowell has written extensively on this for many years. China as the bad guy, which looks to be the point of the column, doesn't fly. Money, in whatever form, needs investing. Otherwise it has no value. If someone in China, or Australia, or Two Dot Montana thinks that an investment in beach front property has value, why wouldn't they invest their capital there? I don't see where I'm supposed to start being afraid of Chinese capital here. There is no "Chinese money", unless you're talking about PRC investments. If so, maybe you could clarify this.

    Plus the assumption is that the Chinese colonization will keep on going due to the Gweilo’s continued foolishness. So the land is not worth what it is as it is currently developed. It is worth what it is after a skyscraper is constructed on it, with China’s surplus population flooding into it, accustomed to living in such tenements.

    Read More
  51. @Anon
    I think its a bit of a stretch to state that San Jose, CA is on the coastline.

    “I think its a bit of a stretch to state that San Jose, CA is on the coastline.”

    San Jose is about as coastal a city as Sacramento.

    Read More
    • Replies: @Reg Cæsar


    “I think its a bit of a stretch to state that San Jose, CA is on the coastline.”
     
    San Jose is about as coastal a city as Sacramento.
     
    Or Asmara, which is 2,000' higher than Denver but (IIRC) closer to the sea than either SJ or Sac.
  52. @Guy de Champlagne
    High real estate prices somehow being desirable is just one of those crazy ideas that everyone seems to accept.

    Give people the power to keep out who and what they want to and then get prices as low as possible, I say.

    I call bullshit on San Jose — unless they’re talking about Palo Alto or Mountain View.

    I’ve got 2 aunts and uncles in the Bay Area. 1 stays in the Berryessa area in east San Jose near the Diablo Mountains. Their old circa 70s condo is worth 200k$ — and its in real good shape. Other aunt stays in Mountain View. Her fuckin house is worth 2.5$ million dollars & she has people every week leaving notes on her porch asking to pay cash to buy it…..

    She was telling me about how dog walkers there make 25$/hour there walking dogs and walk 5 dogs at a time — 125$/hour to walk dogs — and that’s considered a middle class wage/salary.

    Vancouver I can believe. I was there this summer seeing my Chinese girl. Her parents lived in Richmond for years and moved back to China — their daughter — my gf lives in that house now….

    Read More
    • Replies: @DWB
    Your aunt who lives in a condo in Berryessa that is worth $200k? I suspect that if she listed it, it would fetch more than that.

    A quick review of the data on, e.g., Redfin, shows that the ONLY property in the entire city of San Jose (which is huge - about the size of a typical county in some states) that is not a double-wide is $299,999, and it is a 700 square foot, one-bedroom condo in a 50 year old building that fronts an expressway.

  53. @Larry, San Francisco
    I doubt that SF and San Jose are highly impacted by Chinese money. Real estate prices have been going up since the 1980's when Silicon Valley started its climb.

    No there’s a shitload of Chinese money in the Bay Area. While the overall trend is up either way — its especially in Mountain View/Palo Alto and San Francisco.

    A 1-br apartment in SF with rats and roaches costs about 1.3-1.5 million dollars due to Chinese investments.

    Read More
    • Replies: @RadicalCenter
    Yes, and perhaps also due to "rent control" laws that make it less profitable for people to build new rental housing?
  54. Chinese money + restrictive zoning.

    Tokyo continues to remain affordable because they build a massive amount of new housing so that increases in investment flows to construction workers, architects interior designers, etc instead of to landlords through higher rent and prices.

    It’s easy to blame foreign money, but it takes two to tango.

    Read More
    • Agree: (((Owen)))
    • Replies: @Ttjy
    Why do we allow foreigners to buy all these houses and condos? Do they rent them out?

    I remember being in the mountain town of Wengen Switizerland and they had real estate for sale.

    Some said they were available to foreign buyers, so I guess there was some restrictions on foreign ownership.

    If you allow foreigners to buy anything they want they then will take over.
  55. @Steve Sailer
    My S.F. real estate salesman cousin's main business in the 1980s was selling old ladies' homes to Hong Kong millionaires paying cash (as in a suitcase full of cash).

    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place. And come-on, my nephews-wife’s-cousins-father in laws agent, or whatever that was. This is how propaganda is presented these days. Not overtly, but subtly, meant to leave one with an impression, a prejudice to see someone or a group in a negative instead of a neutral light. China as the enemy, as is Russia. Not so many people are buying what you are selling these days. Let’s do business with whoever wants our business. Caveat Emptor refers to the buyer, not the seller. You want to offer me a premium for my product? Ring my doorbell. We’ll do business. I’m not in the business of catching multi-national crooks. Cash is king.

    Read More
    • Replies: @RadicalCenter
    "Doing business", absolutely, and more trade in both directions would be great. (In BOTH directions.)

    But "doing business" while actually looking out for our own people does not necessarily mean allowing foreigners from a rising rival power to immigrate here in huge numbers, buy up swathes of real estate that our people can't afford, and bring their language and culture with them.
    , @Bill P

    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place.
     
    I care about the suitcases full of cash because I don't want PRC hustlers driving young working American families (including the great grandchildren of laborers from Taishan) out of the cities that they and their ancestors built.

    I think a stiff tax on non-resident purchases of real-estate is in order, or perhaps as in the PRC, an outright ban on foreign, non-resident purchases of real estate.

    If the Trump administration doesn't do something about the out-of-control housing costs in US cities I'll be sorely disappointed. PRC dakuans can park their loot elsewhere.
    , @Langley
    During the 1980s, where, Japanese nationals were driving around Kehala with suitcases full of cash buying luxury estates, there was a comedian from Japan with one good joke.

    " Don't get me angry or I'll buy your house. "
    , @SOL
    Come on, I'm of Chinese ancestry and even I can't stand the mainlanders ruining the Bay Area.
  56. Doesn’t Bournemouth have a lot of Russian money? Berezovsky used to spend time there.

    Possibly the Chinese have entered the market, too. They teach Mandarin in some schools in Bournemouth now.

    Read More
  57. @Daniel H
    Try and move $9,000 in or out of the country by bank wire or transfer without notifying the IRS and you can get an indictment for structuring transactions in order to evade reporting requirement. Bring in $2 million of cash from Beijing in a suitcase or however and purchase property and no questions need to be asked or are asked.

    I don’t know where my cousin’s Hong Kong buyers in SF were getting their suitcases full of cash in the 1980s.

    But yeah there’s not a lot of federal interest in real estate money. Presumably the 1980s Hong Kong millionaires were making their money in pretty honest British-run Hong Kong, but today’s mainland millionaires buying California golf courses are probably not wholly aboveboard in why they are so desperate to get their money out of China.

    Read More
    • Replies: @Daniel H
    >>But yeah there’s not a lot of federal interest in real estate money.

    That's because real estate industry lobbyists make sure of that. There is no obligation for real estate brokers or sellers to report any information to the feds, other than standard capital gains filings.
  58. @ThreeCranes
    Climate-wise, Vancouver is to Canada as San Diego is to the United States. Lotsa youthful, outdoorsy types want to live there to take advantage of four season playtime. Whistler for world-class skiing, the Gulf Islands and inside passage for yachting and kayaking, backpacking in the Canadian Cascades, salmon and Halibut fishing, great diving. It's like a year-round summer camp. Nice looking women too.

    Vancouver is so much better in terms of geography/climate than any other big Canadian city.

    Read More
    • Replies: @RadicalCenter
    Lived in Vancouver part-time for a couple years and LOVED it. But like LA, "it's great except for the people." (present company excepted, of course, Steve ;)

    Also, when I was spending time in Vancouver, it was not a "realistic" BC experience.

    I was working online for a US employer that has no presence in Canada at all. Because I was NOT a Canadian citizen or resident, I was NOT paying the absurd provincial income tax, was NOT paying the additional BC-MSP healthcare charge (yes, they pay them) that would have applied to a Canadian with my income level, and was NOT stuck with their healthcare system when I had medical problems.

    I was domiciled in a US State with no income tax, and getting advanced healthcare without a long wait in the States, while spending the majority of my time living it up in BC -- the best of both worlds.

    And that was before the Provincial Sales Tax (PST) was extended to restaurants and bars -- WOOHOO! We paid only the GST, then 5%, when we went out. BC now is pricier for the tourist or frequent visitor because of that unhelpful little change.

  59. @Steve Sailer
    I don't know where my cousin's Hong Kong buyers in SF were getting their suitcases full of cash in the 1980s.

    But yeah there's not a lot of federal interest in real estate money. Presumably the 1980s Hong Kong millionaires were making their money in pretty honest British-run Hong Kong, but today's mainland millionaires buying California golf courses are probably not wholly aboveboard in why they are so desperate to get their money out of China.

    >>But yeah there’s not a lot of federal interest in real estate money.

    That’s because real estate industry lobbyists make sure of that. There is no obligation for real estate brokers or sellers to report any information to the feds, other than standard capital gains filings.

    Read More
  60. @Langley
    Chinese money is not a complete explanation for prices in Honolulu or Hawaii.

    The Japanese took over the Democrat party and the state in 1954. Since then their regulation and the placement of their friends and family in state jobs has increased the cost of everything here. It is a fixed game.

    Back in the 1960's my mother said that Honolulu was as corrupt as Chicago. It has not gotten better since then.

    Here in Hawaii they do not kill you. Your phone just stops ringing.

    Well, the Japanese in Hawaii had better get ready for the Filipinos to start pushing into political power and then into more state and local government jobs.

    The Japanese population of Hawaii is somewhat older and apparently is not growing.

    The Filipino population of Hawaii is younger and growing steadily.

    First Guam and then Hawaii are going to end up as somewhat safer, less impoverished outposts of the Philippines.

    Read More
    • Replies: @Karl
    63 Radical Center > First Guam and then Hawaii are going to end up as somewhat safer, less impoverished outposts of the Philippines


    I write this in Guam (passing through, shipmate, just passing through)

    It's been filipino operated since the git-go. Because no one in history has been able to get any serious amount of adult work out of the Chamorros.

    the Japanese tourists have been replaced by Koreans. Believe me, it's true that Korean chicks patronize plastic surgery.
  61. anon says:     Show CommentNext New Comment

    Chinese immigration has pretty much ethnically cleansed the former white majorities from Vancouver and Markham (Toronto). I am told by the powers that be, that this is a “good” thing. Diversity is “strength” etc., ad nauseam. (Plus its lots of votes for the Liberal party!)

    But somehow I have doubts. Guess I need more brainwashing…

    Read More
    • Replies: @RadicalCenter
    I found the Chinese in VAN and especially Richmond, their bailiwick, to be unfriendly and rude on the whole, with some welcome exceptions as always. We should let some of them live in the USA and Canada on "restaurant visas" to keep the great cuisine and send the rest of them packing. Obnoxious.
    , @Anon
    This is why I say the economic argument against immigration sucks.

    If you say 'Muslims and Mexicans are NOT welcome cuz they are violent or mediocre', it means you should welcome immigrants who are smart, productive, and have money.

    Okay, Chinese don't do terror and they have high IQ. And they bring loads of cash.

    But the end result is a once white city is no longer very white.

    If immigration leads to demographic imperialism, say NO even if the new comers are smart and peaceful.

    In the end, it's about identity and heritage and ownership of land. It's not about dollars and cents.

    One should see one's nation as sacred burial ground of one's forbears, not just some real estate to be sold to the highest bidder.

    Globalism severs our ties to roots to the soil.

    Be like Zionists. They feel a sacred tie to the Holy Land even though they've been away for 1000 yrs.
  62. @Neoconned
    No there's a shitload of Chinese money in the Bay Area. While the overall trend is up either way -- its especially in Mountain View/Palo Alto and San Francisco.

    A 1-br apartment in SF with rats and roaches costs about 1.3-1.5 million dollars due to Chinese investments.

    Yes, and perhaps also due to “rent control” laws that make it less profitable for people to build new rental housing?

    Read More
  63. @Jimbobla
    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place. And come-on, my nephews-wife's-cousins-father in laws agent, or whatever that was. This is how propaganda is presented these days. Not overtly, but subtly, meant to leave one with an impression, a prejudice to see someone or a group in a negative instead of a neutral light. China as the enemy, as is Russia. Not so many people are buying what you are selling these days. Let's do business with whoever wants our business. Caveat Emptor refers to the buyer, not the seller. You want to offer me a premium for my product? Ring my doorbell. We'll do business. I'm not in the business of catching multi-national crooks. Cash is king.

    “Doing business”, absolutely, and more trade in both directions would be great. (In BOTH directions.)

    But “doing business” while actually looking out for our own people does not necessarily mean allowing foreigners from a rising rival power to immigrate here in huge numbers, buy up swathes of real estate that our people can’t afford, and bring their language and culture with them.

    Read More
  64. @Jefferson
    "I think its a bit of a stretch to state that San Jose, CA is on the coastline."

    San Jose is about as coastal a city as Sacramento.

    “I think its a bit of a stretch to state that San Jose, CA is on the coastline.”

    San Jose is about as coastal a city as Sacramento.

    Or Asmara, which is 2,000′ higher than Denver but (IIRC) closer to the sea than either SJ or Sac.

    Read More
    • Replies: @Steve Sailer
    The weather in Asmara, capital of Eritrea, is really nice: average high in the 70s twelve months of the year. And lots of Italian art deco architecture.

    Of course, the dictator will try to conscript your sons into the army for 25 year terms, so there are downsides. But still ...
  65. @ThreeCranes
    Climate-wise, Vancouver is to Canada as San Diego is to the United States. Lotsa youthful, outdoorsy types want to live there to take advantage of four season playtime. Whistler for world-class skiing, the Gulf Islands and inside passage for yachting and kayaking, backpacking in the Canadian Cascades, salmon and Halibut fishing, great diving. It's like a year-round summer camp. Nice looking women too.

    “Climate-wise, Vancouver is to Canada as San Diego is to the United States.”

    What an extremely horrible comparison. It snows in Vancouver while the temperature most days in San Diego during it’s so called “winter season” stays within the 60F-to-65F degree mark.

    The Christmas song Baby It’s Cold Outside definitely does not apply to a Christmas in San Diego.

    Read More
    • Replies: @Steve Sailer
    Vancouver is to San Diego as Edmonton is to Denver.
    , @ThreeCranes
    It's not a one to one comparison. It's a proportional relationship. You know, ratios? Vancouver has the warmest winters of any big city in Canada which makes it ground zero for any athlete who wants to train year round e.g. triathletes, cyclists. So its a Mecca for youthful Canadians as well as all the rich foreigners Steve mentioned. This puts even more pressure on the housing market. That's all I'm saying. Cut me some slack, I did live right across the border for most of my life and competed against Vancouverites in Judo, triathlons and so forth, so I know whereof I speak.

    Vancouver is also one of the most walkable cities of any in North America: Denman Ave. and the walking trail that parallels Beach Avenue, Stanley Park remind me of streets in European cities.
  66. @Steve Sailer
    Vancouver is so much better in terms of geography/climate than any other big Canadian city.

    Lived in Vancouver part-time for a couple years and LOVED it. But like LA, “it’s great except for the people.” (present company excepted, of course, Steve ;)

    Also, when I was spending time in Vancouver, it was not a “realistic” BC experience.

    I was working online for a US employer that has no presence in Canada at all. Because I was NOT a Canadian citizen or resident, I was NOT paying the absurd provincial income tax, was NOT paying the additional BC-MSP healthcare charge (yes, they pay them) that would have applied to a Canadian with my income level, and was NOT stuck with their healthcare system when I had medical problems.

    I was domiciled in a US State with no income tax, and getting advanced healthcare without a long wait in the States, while spending the majority of my time living it up in BC — the best of both worlds.

    And that was before the Provincial Sales Tax (PST) was extended to restaurants and bars — WOOHOO! We paid only the GST, then 5%, when we went out. BC now is pricier for the tourist or frequent visitor because of that unhelpful little change.

    Read More
  67. @anon
    Chinese immigration has pretty much ethnically cleansed the former white majorities from Vancouver and Markham (Toronto). I am told by the powers that be, that this is a "good" thing. Diversity is "strength" etc., ad nauseam. (Plus its lots of votes for the Liberal party!)

    But somehow I have doubts. Guess I need more brainwashing...

    I found the Chinese in VAN and especially Richmond, their bailiwick, to be unfriendly and rude on the whole, with some welcome exceptions as always. We should let some of them live in the USA and Canada on “restaurant visas” to keep the great cuisine and send the rest of them packing. Obnoxious.

    Read More
  68. @Jimbobla
    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place. And come-on, my nephews-wife's-cousins-father in laws agent, or whatever that was. This is how propaganda is presented these days. Not overtly, but subtly, meant to leave one with an impression, a prejudice to see someone or a group in a negative instead of a neutral light. China as the enemy, as is Russia. Not so many people are buying what you are selling these days. Let's do business with whoever wants our business. Caveat Emptor refers to the buyer, not the seller. You want to offer me a premium for my product? Ring my doorbell. We'll do business. I'm not in the business of catching multi-national crooks. Cash is king.

    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place.

    I care about the suitcases full of cash because I don’t want PRC hustlers driving young working American families (including the great grandchildren of laborers from Taishan) out of the cities that they and their ancestors built.

    I think a stiff tax on non-resident purchases of real-estate is in order, or perhaps as in the PRC, an outright ban on foreign, non-resident purchases of real estate.

    If the Trump administration doesn’t do something about the out-of-control housing costs in US cities I’ll be sorely disappointed. PRC dakuans can park their loot elsewhere.

    Read More
  69. @Neoconned
    I call bullshit on San Jose -- unless they're talking about Palo Alto or Mountain View.

    I've got 2 aunts and uncles in the Bay Area. 1 stays in the Berryessa area in east San Jose near the Diablo Mountains. Their old circa 70s condo is worth 200k$ -- and its in real good shape. Other aunt stays in Mountain View. Her fuckin house is worth 2.5$ million dollars & she has people every week leaving notes on her porch asking to pay cash to buy it.....

    She was telling me about how dog walkers there make 25$/hour there walking dogs and walk 5 dogs at a time -- 125$/hour to walk dogs -- and that's considered a middle class wage/salary.

    Vancouver I can believe. I was there this summer seeing my Chinese girl. Her parents lived in Richmond for years and moved back to China -- their daughter -- my gf lives in that house now....

    Your aunt who lives in a condo in Berryessa that is worth $200k? I suspect that if she listed it, it would fetch more than that.

    A quick review of the data on, e.g., Redfin, shows that the ONLY property in the entire city of San Jose (which is huge – about the size of a typical county in some states) that is not a double-wide is $299,999, and it is a 700 square foot, one-bedroom condo in a 50 year old building that fronts an expressway.

    Read More
  70. @(((Owen)))

    I think its a bit of a stretch to state that San Jose, CA is on the coastline.
     
    Not much of a stretch. The outlined part in blue is San Francisco Bay on the Pacific Ocean within the city limits.

    https://www.google.com/maps/place/San+Jose,+CA/@37.3545637,-122.4464132,10z/data=!4m5!3m4!1s0x808fcae48af93ff5:0xb99d8c0aca9f717b!8m2!3d37.3382082!4d-121.8863286

    This map is extremely misleading. The city of San Jose “touches” the southern tip of the SF Bay because a one-mile wide finger of the city that is basically the slough of the Guadalupe River, with some low-rise office buildings projects to some glorified mud flats.

    The “North San Jose” area (Alviso) ain’t exactly Newport Beach.

    Read More
    • Replies: @Steve Sailer
    I don't know whether the study looks only at the municipality of San Jose, or at metro San Jose (i.e., Silicon Valley). Silicon Valley is definitely constrained geographically by salt water and mountains, plus a ton of anti-development regulations.
    , @Steve Sailer
    I don't know whether the study looks only at the municipality of San Jose, or at metro San Jose (i.e., Silicon Valley). Silicon Valley is definitely constrained geographically by salt water and mountains, plus a ton of anti-development regulations.
  71. @Jefferson
    "Climate-wise, Vancouver is to Canada as San Diego is to the United States."

    What an extremely horrible comparison. It snows in Vancouver while the temperature most days in San Diego during it's so called "winter season" stays within the 60F-to-65F degree mark.

    The Christmas song Baby It's Cold Outside definitely does not apply to a Christmas in San Diego.

    Vancouver is to San Diego as Edmonton is to Denver.

    Read More
    • Replies: @Jefferson
    "Vancouver is to San Diego as Edmonton is to Denver."

    Vancouver is quite cold by Non Canadian standards.
  72. @DWB
    Steve et al-

    this is why, as they say, "numbers matter."

    Now, without saying that 'Chinese money' is good or bad, the reality is, in a nation with 1.4 billion people, one per cent is still 14 million (roughly, the population of the Netherlands).

    And that ignores Hong Kong and Taiwan, which add another 30 or so million, as well as large overseas Chinese communities in Malaysia and Indonesia.

    The sheer size of Chinese wealth in absolute numbers, if focused on markets with short supply (like real estate in a handful of Pacific coastal cities) will have a distorting effect.

    I now live in San Francisco, a city that is aggressively "pro immigrant" in just about every way. At the same time, long-time residents (defined conveniently here, as someone who has lived in SF for more than 10 years) complain loudly about "gentrification" and how "tech workers" are driving out the people who "make San Francisco real."

    The amount of effort to square such cognitive dissonance would exhaust mere mortals. As I have said more than once, the problem in their minds is an 'invasion of tech bros,' whom despite all reality they see as a group of fraternity brothers from the University of Illinois.

    Apparently, a guy who enters the country illegally from Oaxaca is to be welcomed without question, but an imagined AMERICAN who comes here from Urbana is an invader who should go home.

    It's insane.

    “The sheer size of Chinese wealth in absolute numbers, if focused on markets with short supply (like real estate in a handful of Pacific coastal cities) will have a distorting effect.”

    Right.

    One thing I like to remind people of is that because of where I grew up I was exposed to many current trends that other people are only noticing now. For example, I was fascinated by Diversity Patterns when I was at UCLA MBA school in 1980-82: stuff like, there are a lot of rich Chinese people in this world, there are a lot of smart Indian academics, stuff like that that is common knowledge today, but was self-evident in places like San Francisco and San Marino, CA in 1982.

    Read More
  73. @DWB
    Check the data, Larry. While it is true that Silicon Valley money has helped fuel real estate climbs, the last surge was like previous ones on steroids. (And this ignores the fact that, despite what SJW say, tech workers are not overwhelmingly frat guys from Illinois, no matter what 'activists' bitching about the commuter shuttles would have you believe).

    How many properties in SF are sitting right now vacant? I've seen data that it is around 10%. These are not even being used for AirBnB.

    If you prefer anecdotes, here is a couple. We bought our house last year, returning to the Bay Area after a few years living in France for work. We now could not afford the house we sold in Palo Alto just a few years ago. Went to many open houses; one was a 2500 square foot house (with basically zero lot lines). It was listed for $2.3 million dollars, had 30 offers, and sold for a million dollars over asking price.

    Another we looked at, at the foot of Twin Peaks (the two central hills in SF - for those familiar with the area, the Sutro broadcast tower visible for miles around sits on top of one) that said "House has been vacant for five years as investor property." It was owned by a family in Shanghai that bought it brand new, site-unseen, and let it sit for five years without ever setting foot in it, of the realtor is to be believed.

    A millionaire friend pointed out to me in 15 years ago when I visited his house in Del Mar, CA, that the more expensive the neighborhood, the fewer houses was occupied. Houses a few blocks from the beach were occupied 90%+ of the time, but houses on the beach were occupied maybe 10% of the time by zillionaires and NFL quarterbacks.

    About 5 years ago, people in Manhattan started to notice that the huge new luxury towers near Central Park weren’t doing much to increase supply of housing since they buyers tended to be foreign oligarchs who only occupied them during, say, Fashion Week.

    Read More
  74. @DWB
    This map is extremely misleading. The city of San Jose "touches" the southern tip of the SF Bay because a one-mile wide finger of the city that is basically the slough of the Guadalupe River, with some low-rise office buildings projects to some glorified mud flats.

    The "North San Jose" area (Alviso) ain't exactly Newport Beach.

    I don’t know whether the study looks only at the municipality of San Jose, or at metro San Jose (i.e., Silicon Valley). Silicon Valley is definitely constrained geographically by salt water and mountains, plus a ton of anti-development regulations.

    Read More
  75. @DWB
    This map is extremely misleading. The city of San Jose "touches" the southern tip of the SF Bay because a one-mile wide finger of the city that is basically the slough of the Guadalupe River, with some low-rise office buildings projects to some glorified mud flats.

    The "North San Jose" area (Alviso) ain't exactly Newport Beach.

    I don’t know whether the study looks only at the municipality of San Jose, or at metro San Jose (i.e., Silicon Valley). Silicon Valley is definitely constrained geographically by salt water and mountains, plus a ton of anti-development regulations.

    Read More
    • Replies: @(((Owen)))
    The Bureau of the Census defines two Metropolitan Statistical Areas in the Bay Area. There's San Francisco-Oakland (which used to be separate), and San Jose. Together they cover all the cities around San Francisco Bay.

    Then there's also Santa Cruz, Vallejo, Napa, Stockton, and Santa Rosa MSAs in the San Jose-San Francisco Combined MSA.
    , @DWB
    Steve, the problems that constrain San Jose (more broadly, Santa Clara County and beyond) are more of the man-made sort than the natural.

    It of course goes without saying that if one stretches enough, all cities have physical boundaries. San Jose is not really radically different from Los Angeles; it can (and has) spread out over what is really a huge valley. It is not at all like San Francisco (which many might be surprised to learn is actually less than 50 miles square - the infamous Bay to Breakers foot race traces the entire width of the city; I have run it in less than 50 minutes), which IS hemmed on three sides by water, and within its borders, has some extremely hilly areas that limit building.

    Environmental and zoning limits, as well as the impacts of Proposition 13 that make housing extremely unattractive for cities, and strip malls comparatively desirable, is what has limited the housing supply.

    San Jose of course could continue to spread southward towards Salinas, or eastward up the relatively mild slopes of the Diablo Range.

    All of this ignores that supply and demand are competing interests; here, no matter the supply, if the demand is unbounded, you ultimately will not be able to keep up. How many people "should" live in San Jose? One million? Five? Twenty? Who decides?

    I hate to sound like a broken record, but the fact is, there is unbelievable cognitive dissonance here. On the one hand, we need to be "welcoming' to any and all immigrants to the area, no matter how ill-equipped to function in a modern economy, no matter how uneducated and unskilled, or insoluble to the culture.

    But WHERE to put the people? Not my problem.
  76. anon says:     Show CommentNext New Comment

    it’s a side effect of the banking mafia’s betrayal of America

    off-shoring created a massive trade imbalance where Chinese goods are paid for in debt – which will eventually be worthless when the US is forced to default

    so they recycle the debt into the only thing USUK has left which has any value – land and property

    effectively USUK is paying for their iphones in acres

    (the banking mafia always destroy the host economy)

    Read More
    • Replies: @Achmed E. Newman
    See, now you've gotta be a zerohedge reader, right, anon? (please correct me if I'm wrong).
  77. @Jimbobla
    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place. And come-on, my nephews-wife's-cousins-father in laws agent, or whatever that was. This is how propaganda is presented these days. Not overtly, but subtly, meant to leave one with an impression, a prejudice to see someone or a group in a negative instead of a neutral light. China as the enemy, as is Russia. Not so many people are buying what you are selling these days. Let's do business with whoever wants our business. Caveat Emptor refers to the buyer, not the seller. You want to offer me a premium for my product? Ring my doorbell. We'll do business. I'm not in the business of catching multi-national crooks. Cash is king.

    During the 1980s, where, Japanese nationals were driving around Kehala with suitcases full of cash buying luxury estates, there was a comedian from Japan with one good joke.

    ” Don’t get me angry or I’ll buy your house. “

    Read More
  78. @AnotherDad
    Steve, you made the list!

    Along with the Chinese money, geography definitely matters.

    Lived in Vancouver back in 88-89, as wife had a post-doc at UBC. The Hong Kong money was coming in at the time and the paper said the city had a 0.2% vaccany rate. Apartment hunting was a nightmare, especially coming up from--still relatively cheap at that time--Austin. Finally found a reasonably nice accomodation far east, near Burnaby, but actually close to Nanaimo Skytrain station, which a Chinese guy was renting out before he moved there. (Which he did 6 months later and booted us.)

    But the deal is ... it's essentially the Canadians' California, but incredibly constrained by the mountains and the border. And within that if you want to be close in to the city ... you pay! But it's a gorgeous place. If it wasn't for "diversity" i can't think of any metro in Canada where one would rather live.

    Canadians have been ethnically cleansed from Vancouver by Chinese kleptocrats.

    Read More
  79. I’ll recommend a city. Lovely mediterranean climate, on the coast, attractive countryside around, and as far as I know spared daft house prices. It’s a gem or, at least, it was when we lived there: Adelaide, South Australia.

    On the other hand The Greens seem to have buggered up the electricity supply.

    Read More
    • Replies: @Steve Sailer
    That's where the South African Nobel Prize winner Coetzee found refuge.
    , @The Last Real Calvinist

    I’ll recommend a city. Lovely mediterranean climate, on the coast, attractive countryside around, and as far as I know spared daft house prices. It’s a gem or, at least, it was when we lived there: Adelaide, South Australia.

     

    Adelaide is indeed a lovely place. But you really have to want to stay there: it's pretty isolated, even from the rest of Australia's population -- although not quite so much so as Perth, which must be one of the most isolated population centers on earth.
  80. Only other context in which I think I’ve heard ‘Bournemouth’ is in the Bonzo Dog Band classic ‘Rockaliser Baby’ – the reference makes a little bit more sense to me now…(occurs around 2:45 for the impatient)….https://youtu.be/zJNFjU6edg8

    Read More
  81. In Vancouver it’s 100% Chinese money.

    First wave was from Hong Kong; the present wave is from the Mainland. There are a lot more of them…

    I’m starting to think the West Coast of North America will one day be China’s…

    Hey, the English were one of the last of the major European peoples to colonize the Americas…

    Read More
  82. @CC
    Chinese money + restrictive zoning.

    Tokyo continues to remain affordable because they build a massive amount of new housing so that increases in investment flows to construction workers, architects interior designers, etc instead of to landlords through higher rent and prices.

    It's easy to blame foreign money, but it takes two to tango.

    Why do we allow foreigners to buy all these houses and condos? Do they rent them out?

    I remember being in the mountain town of Wengen Switizerland and they had real estate for sale.

    Some said they were available to foreign buyers, so I guess there was some restrictions on foreign ownership.

    If you allow foreigners to buy anything they want they then will take over.

    Read More
  83. @Steve Sailer
    I don't know whether the study looks only at the municipality of San Jose, or at metro San Jose (i.e., Silicon Valley). Silicon Valley is definitely constrained geographically by salt water and mountains, plus a ton of anti-development regulations.

    The Bureau of the Census defines two Metropolitan Statistical Areas in the Bay Area. There’s San Francisco-Oakland (which used to be separate), and San Jose. Together they cover all the cities around San Francisco Bay.

    Then there’s also Santa Cruz, Vallejo, Napa, Stockton, and Santa Rosa MSAs in the San Jose-San Francisco Combined MSA.

    Read More
  84. I’ve lived in the Bay Area forever, and have watched the rental/housing market.

    Most everyone locally attributes the high cost of housing to the tech boom.

    If you want to see something amazing, drive northbound from say San Mateo to San Francisco during the morning rush. Multiple times per minute you will see a “tech bus” heading south. These are buses chartered by the Silicon Valley tech companies to carry their young workers who prefer the urban life in San Francisco to life in Silicoan Valley. They are also referred to locally as Google buses.

    There is also no question that property ownership is extremely high among Chinese Americans – whether ABCs or immigrants. I have done jury selection in many cases and almost 100% of the Chinese jurors own some real property. Some even are tenants but still own some rental property (pro tip – if you are representing a tenant against a landlord, get rid of all the Chinese jurors pronto.)

    Chinese immigrants also live very cheaply and save money to buy property. I had the epiphany once in Costco seeing all the Chinese people buying the 50 lb. bags of rice. You can feed a whole family very cheaply on rice, vegetables, and a little meat (as opposed to the more expensive and less healthy essentially junk food diets of poor blacks.)

    The rich Chinese with the bags of money are more likely to live in suburbs like Burlingame, Hillsborough, Atherton.

    Everyone has heard the suitcase stories, which I don’t think happens as often as people say (everyone has heard the stories, few have actually seen the suitcases.) But, if you look at the current meteoric rise in prices of formerly “middle class” accommodations, and look at the timing, it seems pretty clearly to be tech related.

    Read More
    • Replies: @Autochthon
    You didn't finish connecting the dots: the overpopulation by employees of the corporations you refer to is achieved, overwhelmingly, by their imported helots from Asia.

    I hereby bequeath upon you the Distinction without a Difference Award for Fallacious Propaganda. Curry on.
  85. @dearieme
    I'll recommend a city. Lovely mediterranean climate, on the coast, attractive countryside around, and as far as I know spared daft house prices. It's a gem or, at least, it was when we lived there: Adelaide, South Australia.

    On the other hand The Greens seem to have buggered up the electricity supply.

    That’s where the South African Nobel Prize winner Coetzee found refuge.

    Read More
    • Replies: @sb
    I think Coetzee's partner/wife is from Adelaide

    Adelaide and the State of South Australia (and Tasmania ) are much poorer than the Australian average and are heavily subsidised by taxpayers from other states.

    Which means that the best jobs in town are government jobs and the local politics is very left
  86. @BenKenobi
    I've been living in Vancouver's downtown core for 5 years now. There is no other place in Canada I would want to live at this point. Almost never snows or dips below zero degrees.

    As for the diversity, eh whatever. It's not the kind that will get you stabbed on the street.

    zero degrees Fahrenheit or zero degrees Celsius? Big difference.

    Read More
    • Replies: @Jim Don Bob
    Celsius. Canadians are into that metric thing like weighing their supermarket vegetables in hectares.
    , @SportsFan
    It certainly never dips below zero degrees Kelvin.
  87. @Steve Sailer
    Vancouver is to San Diego as Edmonton is to Denver.

    “Vancouver is to San Diego as Edmonton is to Denver.”

    Vancouver is quite cold by Non Canadian standards.

    Read More
  88. War with China, and soon, is the U.S.A.’s last, best hope. Eleven carrier strike groups and the Pacific Ocean guarantee we can beat them militarily, and relatively easily, now, and it would presumably put and end to the demographic invasion as well.

    China is already fighting a war against the U.S.A. demographically and economically, and winning hand over fist on both fronts in large part due to collusion by the American government.

    The U.S.A. could achieve a route in short order simply by responding militarily.

    The collusion precludes that solution, of course, and it will soon enough not be possible.

    Read More
    • Replies: @Steve Sailer
    July 1914 German General Staff thinking: If we don't have a war with Russia now, by 1935 or 1940 they'll be too strong!

    How'd that work out for them, anyway?

    , @Clyde
    Excellent post. Americans are in denial about China. It is much more pleasant to dream of lollypops and a peaceful world with everyone holding hands across national borders. China is not our friend, but a serious economic rival that has long range plans for battling us on many fronts including currency. Reserve currencies. They are in the process of kicking us out of Asia that is close to China.
    When this is finished they will get serious about the entire world. They have the demographic heft, the technological prowess and the military power to pull this off long term. Say 50 years. Their secret ally are the hundreds of millions of overseas Chinese.

    I like individual Chinese I encounter here but am against any immigration invasion from China, Mexico, India, Pakistan, Bangladesh, Central America and so on... File this one under "Only White people are not allowed to have their own nice white nations with small numbers of minorities"

    , @Charles Erwin Wilson

    War with China, and soon, is the U.S.A.’s last, best hope
     
    No.

    What do you think the mutual exchange of large numbers of nuclear weapons would be?

    China is aging and Christianizing. If we are patient, their current belligerence will be dampened, and then extinguished, but that combination.

    Do not summon the demon.
  89. I was taken to Bournemouth to recover from a near fatal bout of pneumonia in early 1958 and then my cousins came down for the week at Easter and we stole candy bars from Woolworth’s and had a nocturnal ‘binge’.

    At the time it was a place of low grade gentility with walks on the promenade and parks. Many large Victorian homes had been converted into guest houses. No hint of the glories to come.

    Bournemouth was probably the original for Sandbourne in Tess of the D’Urbevilles, a flashy Victorian beach resort populated by the nouveau riche. While at Sandbourne, Tess Durbeyfield stabbed her erstwhile lover/rapist Alec D’Urbeville to death in their Sandbourne love nest, for which she was later convicted at Winchester assizes and promptly hanged. No twenty years of appeals in them days.

    Bournemouth, although rather Victorian tacky, is surrounded (not on the English Channel side, obviously) by the gorgeous Dorset countryside, where there are many expensive country homes.

    Read More
  90. @Ivy
    Cape Town offers cheap necklaces to go along with the cheap rents.

    Does it also permit concealed carry?

    Read More
    • Replies: @Ivy
    Yes, and the remaining citizenry are wise to avail themselves of arms and security to survive between journeys from home to work. My RSA neighbors miss home but not their fellow 'citizens'.

    https://en.m.wikipedia.org/wiki/Concealed_carry
  91. @Jefferson
    "Climate-wise, Vancouver is to Canada as San Diego is to the United States."

    What an extremely horrible comparison. It snows in Vancouver while the temperature most days in San Diego during it's so called "winter season" stays within the 60F-to-65F degree mark.

    The Christmas song Baby It's Cold Outside definitely does not apply to a Christmas in San Diego.

    It’s not a one to one comparison. It’s a proportional relationship. You know, ratios? Vancouver has the warmest winters of any big city in Canada which makes it ground zero for any athlete who wants to train year round e.g. triathletes, cyclists. So its a Mecca for youthful Canadians as well as all the rich foreigners Steve mentioned. This puts even more pressure on the housing market. That’s all I’m saying. Cut me some slack, I did live right across the border for most of my life and competed against Vancouverites in Judo, triathlons and so forth, so I know whereof I speak.

    Vancouver is also one of the most walkable cities of any in North America: Denman Ave. and the walking trail that parallels Beach Avenue, Stanley Park remind me of streets in European cities.

    Read More
  92. @Jimbobla
    I know you are trying to make a point, but come on, S.F.? How about rent control, building restrictions, other restrictive regulations. Thomas Sowell has written extensively on this for many years. China as the bad guy, which looks to be the point of the column, doesn't fly. Money, in whatever form, needs investing. Otherwise it has no value. If someone in China, or Australia, or Two Dot Montana thinks that an investment in beach front property has value, why wouldn't they invest their capital there? I don't see where I'm supposed to start being afraid of Chinese capital here. There is no "Chinese money", unless you're talking about PRC investments. If so, maybe you could clarify this.

    Because it isn’t their country. Foreigners may not own real property in China or India. Reciprocity is in order.

    You argue Chinese are no different than any other investor, but they are.

    Because we live here. That’s why.

    Read More
    • Replies: @Clyde

    Because it isn’t their country. Foreigners may not own real property in China or India. Reciprocity is in order.
     
    Indeed... Do unto them before they do unto us:) If Americans cannot own Chinese property then why the hell should Chinese be allowed to buy and bid up US property, especially in California, Vancouver and New York City. Last I read there are five Chinatowns in NYC w two in Brooklyn. NYC is a major destination for Chinese after California. I think they like the sardine effect, being packed in like sardines, same as in China.
    At any rate NYC air is very clean compared to Chinese cities so it's crowded and clean, relatively speaking.
  93. @LeftyLawyer
    I've lived in the Bay Area forever, and have watched the rental/housing market.

    Most everyone locally attributes the high cost of housing to the tech boom.

    If you want to see something amazing, drive northbound from say San Mateo to San Francisco during the morning rush. Multiple times per minute you will see a "tech bus" heading south. These are buses chartered by the Silicon Valley tech companies to carry their young workers who prefer the urban life in San Francisco to life in Silicoan Valley. They are also referred to locally as Google buses.

    There is also no question that property ownership is extremely high among Chinese Americans - whether ABCs or immigrants. I have done jury selection in many cases and almost 100% of the Chinese jurors own some real property. Some even are tenants but still own some rental property (pro tip - if you are representing a tenant against a landlord, get rid of all the Chinese jurors pronto.)

    Chinese immigrants also live very cheaply and save money to buy property. I had the epiphany once in Costco seeing all the Chinese people buying the 50 lb. bags of rice. You can feed a whole family very cheaply on rice, vegetables, and a little meat (as opposed to the more expensive and less healthy essentially junk food diets of poor blacks.)

    The rich Chinese with the bags of money are more likely to live in suburbs like Burlingame, Hillsborough, Atherton.

    Everyone has heard the suitcase stories, which I don't think happens as often as people say (everyone has heard the stories, few have actually seen the suitcases.) But, if you look at the current meteoric rise in prices of formerly "middle class" accommodations, and look at the timing, it seems pretty clearly to be tech related.

    You didn’t finish connecting the dots: the overpopulation by employees of the corporations you refer to is achieved, overwhelmingly, by their imported helots from Asia.

    I hereby bequeath upon you the Distinction without a Difference Award for Fallacious Propaganda. Curry on.

    Read More
    • Replies: @FLgeezer
    >Curry on.

    LOL and a delicious post. Thanks! 8-)
  94. @Jimbobla
    I know you are trying to make a point, but come on, S.F.? How about rent control, building restrictions, other restrictive regulations. Thomas Sowell has written extensively on this for many years. China as the bad guy, which looks to be the point of the column, doesn't fly. Money, in whatever form, needs investing. Otherwise it has no value. If someone in China, or Australia, or Two Dot Montana thinks that an investment in beach front property has value, why wouldn't they invest their capital there? I don't see where I'm supposed to start being afraid of Chinese capital here. There is no "Chinese money", unless you're talking about PRC investments. If so, maybe you could clarify this.

    China as the bad guy, which looks to be the point of the column, doesn’t fly. Money, in whatever form, needs investing. Otherwise it has no value.

    Get real. Many nations have restrictions on foreign investment in real estate. Mexico is a good example. If it were up to me I would severely limit Chinese real estate investment and purchases in America. They are our economic rivals and not our friends. They aim to replace us on the world stage so why should we allow them to buy up the USA via buying up real estate and driving up prices. Other nations would be on my shit-list but I would limit all foreign buying of US real estate. No eliminate but limit.

    Read More
  95. @Autochthon
    War with China, and soon, is the U.S.A.'s last, best hope. Eleven carrier strike groups and the Pacific Ocean guarantee we can beat them militarily, and relatively easily, now, and it would presumably put and end to the demographic invasion as well.

    China is already fighting a war against the U.S.A. demographically and economically, and winning hand over fist on both fronts in large part due to collusion by the American government.

    The U.S.A. could achieve a route in short order simply by responding militarily.

    The collusion precludes that solution, of course, and it will soon enough not be possible.

    July 1914 German General Staff thinking: If we don’t have a war with Russia now, by 1935 or 1940 they’ll be too strong!

    How’d that work out for them, anyway?

    Read More
    • Replies: @Autochthon
    Land wars in Asia between nations with comparable technology favour those with vastly greater numbers of soldiers. A contest between the U.S.A. and China today is inapposite to the analogy on every count.

    The other difference is that the Chinese are already invading in vast numbers; the alternative is acquiescent suicide of the nation, so there is little to lose and much to gain. The Greeks, similarly a thalassocracy, understood this stuff and prevailed againat the Persians.

  96. @Wency
    Interestingly, when it comes to most expensive cities for expats, Luanda, Angola tops or near-tops the list. See e.g. this article: http://www.bbc.com/news/business-36587681

    Of course, the expats live in fortified compounds, but life there is still bad, from what I've read, with constant power outages the norm.

    N'djamena, Chad is also apparently very expensive.

    Meanwhile some African cities are also on the bottom of the list (Windhoek and Cape Town) -- maybe those don't have proper expat compounds. Or fewer layers of corruption.

    Have you by chance read Paul Theroux’s “Last Train to Zona Verde”?

    https://www.amazon.com/Last-Train-Zona-Verde-Ultimate-ebook/dp/B008P94QDA/ref=asap_bc?ie=UTF8

    “‘This Is What the World Will Look Like When It Ends’” is a chapter title in reference to Luanda. It’s so hellish that Theroux decides to shut his journey down then and there.

    Read More
    • Replies: @Clyde
    I read that. Paul Theroux is a big lib but I like his books.
  97. @Autochthon
    Because it isn't their country. Foreigners may not own real property in China or India. Reciprocity is in order.

    You argue Chinese are no different than any other investor, but they are.

    Because we live here. That's why.

    Because it isn’t their country. Foreigners may not own real property in China or India. Reciprocity is in order.

    Indeed… Do unto them before they do unto us:) If Americans cannot own Chinese property then why the hell should Chinese be allowed to buy and bid up US property, especially in California, Vancouver and New York City. Last I read there are five Chinatowns in NYC w two in Brooklyn. NYC is a major destination for Chinese after California. I think they like the sardine effect, being packed in like sardines, same as in China.
    At any rate NYC air is very clean compared to Chinese cities so it’s crowded and clean, relatively speaking.

    Read More
    • Replies: @Joe Schmoe
    In all fairness, however, the USA is really the only country on the planet where you can actually own real estate. When Joe Schmoe got his land patent from uncle sam in 1905, he got total rights to it and owns it to the core of the earth, water and mineral rights. No other country allows that. All the mineral rights in Canada are owned by the government. Negotiating drilling contracts is a piece of cake there. There is one entity, the gov't. Not so in the USA, you have to have a contract with every little farmer in podunk Oklahoma, Pennsylvania, Dakotas, etc. Chinese can't really own land in China, because it is ultimately owned by the gov't. In other countries, folks can only be land holders. In the USA, one is a land owner.
  98. @Autochthon
    War with China, and soon, is the U.S.A.'s last, best hope. Eleven carrier strike groups and the Pacific Ocean guarantee we can beat them militarily, and relatively easily, now, and it would presumably put and end to the demographic invasion as well.

    China is already fighting a war against the U.S.A. demographically and economically, and winning hand over fist on both fronts in large part due to collusion by the American government.

    The U.S.A. could achieve a route in short order simply by responding militarily.

    The collusion precludes that solution, of course, and it will soon enough not be possible.

    Excellent post. Americans are in denial about China. It is much more pleasant to dream of lollypops and a peaceful world with everyone holding hands across national borders. China is not our friend, but a serious economic rival that has long range plans for battling us on many fronts including currency. Reserve currencies. They are in the process of kicking us out of Asia that is close to China.
    When this is finished they will get serious about the entire world. They have the demographic heft, the technological prowess and the military power to pull this off long term. Say 50 years. Their secret ally are the hundreds of millions of overseas Chinese.

    I like individual Chinese I encounter here but am against any immigration invasion from China, Mexico, India, Pakistan, Bangladesh, Central America and so on… File this one under “Only White people are not allowed to have their own nice white nations with small numbers of minorities”

    Read More
    • Replies: @Charles Erwin Wilson
    Your observations are an indictment of the American Left, and not the Chinese. The Chinese are not our friends, but neither are they the source of most of our problems. And your assumption of racial solidarity may be no more accurate that the assumed allegiance of Japanese Americans during WWII.

    Trump is not going to sit still while China strips the fruit of our labor from our orchards.

    You are too pessimistic. But your last paragraph is accurate.
    , @Ivy
    Nixon's Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ "Diverse Americans" who don't all share the same reverence for what made the country a beacon. Times change, and fortunes turn so we have an opportunity to reassert our values.
  99. @Formerly CARealist
    zero degrees Fahrenheit or zero degrees Celsius? Big difference.

    Celsius. Canadians are into that metric thing like weighing their supermarket vegetables in hectares.

    Read More
  100. Look out, Seattle…

    http://www.theglobeandmail.com/news/british-columbia/vancouvers-new-tax-pushes-chinese-buyers-to-seattle-toronto/article33211473/

    Vancouver brought in a 15% tax on home sales to ‘foreign money’ a few months ago. So far, home sales have tanked.

    Though, that likely won’t last.

    Read More
    • Replies: @res

    Vancouver brought in a 15% tax on home sales to ‘foreign money’ a few months ago. So far, home sales have tanked.
     
    Here is the sales change from the article:

    In Vancouver, meanwhile, sales have plunged since July and were down 37 per cent last month compared with the prior year.
     
    I skimmed the article and didn't see a mention of a change in prices. Did prices tank as well? It seems like throwing that big of a monkey wrench into the supply/demand equation should move the price as well.
  101. @Autochthon
    War with China, and soon, is the U.S.A.'s last, best hope. Eleven carrier strike groups and the Pacific Ocean guarantee we can beat them militarily, and relatively easily, now, and it would presumably put and end to the demographic invasion as well.

    China is already fighting a war against the U.S.A. demographically and economically, and winning hand over fist on both fronts in large part due to collusion by the American government.

    The U.S.A. could achieve a route in short order simply by responding militarily.

    The collusion precludes that solution, of course, and it will soon enough not be possible.

    War with China, and soon, is the U.S.A.’s last, best hope

    No.

    What do you think the mutual exchange of large numbers of nuclear weapons would be?

    China is aging and Christianizing. If we are patient, their current belligerence will be dampened, and then extinguished, but that combination.

    Do not summon the demon.

    Read More
    • Replies: @Autochthon
    You think nuclear weapons would be exchanged?

    In have a spectaular bridge between the Marin headlands and the Presidio I will sell you— cheap!

    Do you have any military experience?
  102. @Clyde
    Excellent post. Americans are in denial about China. It is much more pleasant to dream of lollypops and a peaceful world with everyone holding hands across national borders. China is not our friend, but a serious economic rival that has long range plans for battling us on many fronts including currency. Reserve currencies. They are in the process of kicking us out of Asia that is close to China.
    When this is finished they will get serious about the entire world. They have the demographic heft, the technological prowess and the military power to pull this off long term. Say 50 years. Their secret ally are the hundreds of millions of overseas Chinese.

    I like individual Chinese I encounter here but am against any immigration invasion from China, Mexico, India, Pakistan, Bangladesh, Central America and so on... File this one under "Only White people are not allowed to have their own nice white nations with small numbers of minorities"

    Your observations are an indictment of the American Left, and not the Chinese. The Chinese are not our friends, but neither are they the source of most of our problems. And your assumption of racial solidarity may be no more accurate that the assumed allegiance of Japanese Americans during WWII.

    Trump is not going to sit still while China strips the fruit of our labor from our orchards.

    You are too pessimistic. But your last paragraph is accurate.

    Read More
    • Replies: @Clyde
    Not going to disagree with you and nothing is written in
    stone about China's ascendancy. I hope and pull for the best and Donald is doing a great job so far. China and the rise of Islam are our largest external problems which are also internal due to our large Chinese and Islamic populations.
    But ultimately America's problems are self generated and must be corrected by Americans. When we become weak, undisciplined, uneducated, pleasure seekers, the foreigners can smell this rot so they + foreign nations will take advantage of us. Try to steal our lunch. China would love to make us subordinate to China.
    MAGA!
  103. @Steve Sailer
    July 1914 German General Staff thinking: If we don't have a war with Russia now, by 1935 or 1940 they'll be too strong!

    How'd that work out for them, anyway?

    Land wars in Asia between nations with comparable technology favour those with vastly greater numbers of soldiers. A contest between the U.S.A. and China today is inapposite to the analogy on every count.

    The other difference is that the Chinese are already invading in vast numbers; the alternative is acquiescent suicide of the nation, so there is little to lose and much to gain. The Greeks, similarly a thalassocracy, understood this stuff and prevailed againat the Persians.

    Read More
    • Replies: @Steve Sailer
    How'd that little Peloponnesian work out for the Athenians in 430 BC?
  104. @Clyde

    Because it isn’t their country. Foreigners may not own real property in China or India. Reciprocity is in order.
     
    Indeed... Do unto them before they do unto us:) If Americans cannot own Chinese property then why the hell should Chinese be allowed to buy and bid up US property, especially in California, Vancouver and New York City. Last I read there are five Chinatowns in NYC w two in Brooklyn. NYC is a major destination for Chinese after California. I think they like the sardine effect, being packed in like sardines, same as in China.
    At any rate NYC air is very clean compared to Chinese cities so it's crowded and clean, relatively speaking.

    In all fairness, however, the USA is really the only country on the planet where you can actually own real estate. When Joe Schmoe got his land patent from uncle sam in 1905, he got total rights to it and owns it to the core of the earth, water and mineral rights. No other country allows that. All the mineral rights in Canada are owned by the government. Negotiating drilling contracts is a piece of cake there. There is one entity, the gov’t. Not so in the USA, you have to have a contract with every little farmer in podunk Oklahoma, Pennsylvania, Dakotas, etc. Chinese can’t really own land in China, because it is ultimately owned by the gov’t. In other countries, folks can only be land holders. In the USA, one is a land owner.

    Read More
  105. @Charles Erwin Wilson

    War with China, and soon, is the U.S.A.’s last, best hope
     
    No.

    What do you think the mutual exchange of large numbers of nuclear weapons would be?

    China is aging and Christianizing. If we are patient, their current belligerence will be dampened, and then extinguished, but that combination.

    Do not summon the demon.

    You think nuclear weapons would be exchanged?

    In have a spectaular bridge between the Marin headlands and the Presidio I will sell you— cheap!

    Do you have any military experience?

    Read More
  106. @dearieme
    I'll recommend a city. Lovely mediterranean climate, on the coast, attractive countryside around, and as far as I know spared daft house prices. It's a gem or, at least, it was when we lived there: Adelaide, South Australia.

    On the other hand The Greens seem to have buggered up the electricity supply.

    I’ll recommend a city. Lovely mediterranean climate, on the coast, attractive countryside around, and as far as I know spared daft house prices. It’s a gem or, at least, it was when we lived there: Adelaide, South Australia.

    Adelaide is indeed a lovely place. But you really have to want to stay there: it’s pretty isolated, even from the rest of Australia’s population — although not quite so much so as Perth, which must be one of the most isolated population centers on earth.

    Read More
  107. @Autochthon
    Land wars in Asia between nations with comparable technology favour those with vastly greater numbers of soldiers. A contest between the U.S.A. and China today is inapposite to the analogy on every count.

    The other difference is that the Chinese are already invading in vast numbers; the alternative is acquiescent suicide of the nation, so there is little to lose and much to gain. The Greeks, similarly a thalassocracy, understood this stuff and prevailed againat the Persians.

    How’d that little Peloponnesian work out for the Athenians in 430 BC?

    Read More
    • Replies: @Autochthon
    With respect, Steve, I'm doing my best to keep up with the Protean analogies. The Peloponnesian War was decided almost entirely by the Delian League's boondoggle to Syracuse. I doubt the U.S.A. would send the seventh and third fleets off to invade Mogadishu or Peru midway through hostilities. And, again, the Peloponnesian belligerents had comparable forces. The Chinese navy – and I use the term loosely – is grosly outnumbered and outclassed by ours. They don't have a blue-water navy at all; that's an indisputable fact. Additionally, the hypothetical war would be defensive ("Get out and stay out of America, and cede freedom of the seas in international waters..."), not a series of coastal pillaging and raiding in the vein of the Delians.

    I'll leave it here, though. Because it's bedtime for Bonzo here. Anyway, I have great respect you, it's your house, and I'm grateful to be a guest...and I kind suspect you're taking the piss a bit just to gauge my responses and thinking on this one.

    Again, much respect, sir.
  108. @duncsbaby
    All of them except for Bournemouth are Pacific Rim cities. I'm very surprised to see Bournemouth on there. My family holidayed there when I was 5 or 6. They have actual palm trees there. I don't think they're native of course but they can grow 'em there. Much sunnier climate than the rest of UK. Still very surprised to see it's got higher rents than London for instance. I wouldn't be a bit surprised that this might have something to do w/ the Islamization of London & Britain as well.

    I have heard that Bournemouths ‘palm trees’ are a New Zealand native tree ti kouka
    or cabbage tree.
    More of a grass than a tree.

    https://en.wikipedia.org/wiki/Cabbage_tree_(New_Zealand)

    Read More
  109. @Charles Erwin Wilson
    Your observations are an indictment of the American Left, and not the Chinese. The Chinese are not our friends, but neither are they the source of most of our problems. And your assumption of racial solidarity may be no more accurate that the assumed allegiance of Japanese Americans during WWII.

    Trump is not going to sit still while China strips the fruit of our labor from our orchards.

    You are too pessimistic. But your last paragraph is accurate.

    Not going to disagree with you and nothing is written in
    stone about China’s ascendancy. I hope and pull for the best and Donald is doing a great job so far. China and the rise of Islam are our largest external problems which are also internal due to our large Chinese and Islamic populations.
    But ultimately America’s problems are self generated and must be corrected by Americans. When we become weak, undisciplined, uneducated, pleasure seekers, the foreigners can smell this rot so they + foreign nations will take advantage of us. Try to steal our lunch. China would love to make us subordinate to China.
    MAGA!

    Read More
  110. @Amasius
    Have you by chance read Paul Theroux's "Last Train to Zona Verde"?

    https://www.amazon.com/Last-Train-Zona-Verde-Ultimate-ebook/dp/B008P94QDA/ref=asap_bc?ie=UTF8

    "'This Is What the World Will Look Like When It Ends'" is a chapter title in reference to Luanda. It's so hellish that Theroux decides to shut his journey down then and there.

    I read that. Paul Theroux is a big lib but I like his books.

    Read More
  111. @Steve Sailer
    That's where the South African Nobel Prize winner Coetzee found refuge.

    I think Coetzee’s partner/wife is from Adelaide

    Adelaide and the State of South Australia (and Tasmania ) are much poorer than the Australian average and are heavily subsidised by taxpayers from other states.

    Which means that the best jobs in town are government jobs and the local politics is very left

    Read More
  112. @Steve Sailer
    How'd that little Peloponnesian work out for the Athenians in 430 BC?

    With respect, Steve, I’m doing my best to keep up with the Protean analogies. The Peloponnesian War was decided almost entirely by the Delian League’s boondoggle to Syracuse. I doubt the U.S.A. would send the seventh and third fleets off to invade Mogadishu or Peru midway through hostilities. And, again, the Peloponnesian belligerents had comparable forces. The Chinese navy – and I use the term loosely – is grosly outnumbered and outclassed by ours. They don’t have a blue-water navy at all; that’s an indisputable fact. Additionally, the hypothetical war would be defensive (“Get out and stay out of America, and cede freedom of the seas in international waters…”), not a series of coastal pillaging and raiding in the vein of the Delians.

    I’ll leave it here, though. Because it’s bedtime for Bonzo here. Anyway, I have great respect you, it’s your house, and I’m grateful to be a guest…and I kind suspect you’re taking the piss a bit just to gauge my responses and thinking on this one.

    Again, much respect, sir.

    Read More
    • Replies: @Anonymous
    It would be stupid to wage war with China simply because we're unwilling or unable to impose taxes and regulations on foreign investment inflows buying real estate. It also wouldn't be a defensive war in that case.
  113. Anon says:     Show CommentNext New Comment
    @anon
    Chinese immigration has pretty much ethnically cleansed the former white majorities from Vancouver and Markham (Toronto). I am told by the powers that be, that this is a "good" thing. Diversity is "strength" etc., ad nauseam. (Plus its lots of votes for the Liberal party!)

    But somehow I have doubts. Guess I need more brainwashing...

    This is why I say the economic argument against immigration sucks.

    If you say ‘Muslims and Mexicans are NOT welcome cuz they are violent or mediocre’, it means you should welcome immigrants who are smart, productive, and have money.

    Okay, Chinese don’t do terror and they have high IQ. And they bring loads of cash.

    But the end result is a once white city is no longer very white.

    If immigration leads to demographic imperialism, say NO even if the new comers are smart and peaceful.

    In the end, it’s about identity and heritage and ownership of land. It’s not about dollars and cents.

    One should see one’s nation as sacred burial ground of one’s forbears, not just some real estate to be sold to the highest bidder.

    Globalism severs our ties to roots to the soil.

    Be like Zionists. They feel a sacred tie to the Holy Land even though they’ve been away for 1000 yrs.

    Read More
  114. Anonymous says:     Show CommentNext New Comment
    @Autochthon
    With respect, Steve, I'm doing my best to keep up with the Protean analogies. The Peloponnesian War was decided almost entirely by the Delian League's boondoggle to Syracuse. I doubt the U.S.A. would send the seventh and third fleets off to invade Mogadishu or Peru midway through hostilities. And, again, the Peloponnesian belligerents had comparable forces. The Chinese navy – and I use the term loosely – is grosly outnumbered and outclassed by ours. They don't have a blue-water navy at all; that's an indisputable fact. Additionally, the hypothetical war would be defensive ("Get out and stay out of America, and cede freedom of the seas in international waters..."), not a series of coastal pillaging and raiding in the vein of the Delians.

    I'll leave it here, though. Because it's bedtime for Bonzo here. Anyway, I have great respect you, it's your house, and I'm grateful to be a guest...and I kind suspect you're taking the piss a bit just to gauge my responses and thinking on this one.

    Again, much respect, sir.

    It would be stupid to wage war with China simply because we’re unwilling or unable to impose taxes and regulations on foreign investment inflows buying real estate. It also wouldn’t be a defensive war in that case.

    Read More
    • Replies: @Autochthon

    "When I use a word," Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Humpty Dumpty, “which is to be master—that's all.”
     
    It would be stupid to pretend that invasion by millions of foreigners is not a casus belli, and that – so long as the invaders do not wear uniforms or openly bear arms – military repulsion of them constitutes aggression rather than defence. It would be stupider still to believe taxing and regulating realty is the most effective means of repelling invasions and uprooting colonists.

    I had not realised Matteo Renzi was now posting anonymously at The Unz Review. Doubtless the United States Navy cannot begin ferrying the Chinese over soon enough, eh? Ciao, Bello!
  115. @Clyde
    Excellent post. Americans are in denial about China. It is much more pleasant to dream of lollypops and a peaceful world with everyone holding hands across national borders. China is not our friend, but a serious economic rival that has long range plans for battling us on many fronts including currency. Reserve currencies. They are in the process of kicking us out of Asia that is close to China.
    When this is finished they will get serious about the entire world. They have the demographic heft, the technological prowess and the military power to pull this off long term. Say 50 years. Their secret ally are the hundreds of millions of overseas Chinese.

    I like individual Chinese I encounter here but am against any immigration invasion from China, Mexico, India, Pakistan, Bangladesh, Central America and so on... File this one under "Only White people are not allowed to have their own nice white nations with small numbers of minorities"

    Nixon’s Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ “Diverse Americans” who don’t all share the same reverence for what made the country a beacon. Times change, and fortunes turn so we have an opportunity to reassert our values.

    Read More
    • Replies: @Steve Sailer
    Yeah, okay, but maybe A Land War in Asia is another one of those things that might have seemed like a good idea at the time in the past ...
    , @Clyde

    Nixon’s Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ “Diverse Americans”
     
    With all due respect the Nixon-China effect was minor. China really got turned loose on us (USA) after the fall of Russian communism. The early 1990s is when all these destructive free trade treaties like NAFTA were signed. Gatt-WTO is what allowed China to pump its low cost via slave labor industrial production into America. Putting all kinds of US factories and industries out of business. Blame American traitors in DC for not enacting anti-China tariffs and for not slashing businesses killing regulations. Self-enriching (you gotta follow the money here) Washington DC sleazes made it so US industries had to move their production out to Mexico, China and Asia or die and go bankrupt.
  116. @FLgeezer
    Does it also permit concealed carry?

    Yes, and the remaining citizenry are wise to avail themselves of arms and security to survive between journeys from home to work. My RSA neighbors miss home but not their fellow ‘citizens’.

    https://en.m.wikipedia.org/wiki/Concealed_carry

    Read More
  117. @Ivy
    Nixon's Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ "Diverse Americans" who don't all share the same reverence for what made the country a beacon. Times change, and fortunes turn so we have an opportunity to reassert our values.

    Yeah, okay, but maybe A Land War in Asia is another one of those things that might have seemed like a good idea at the time in the past …

    Read More
  118. @DWB
    Check the data, Larry. While it is true that Silicon Valley money has helped fuel real estate climbs, the last surge was like previous ones on steroids. (And this ignores the fact that, despite what SJW say, tech workers are not overwhelmingly frat guys from Illinois, no matter what 'activists' bitching about the commuter shuttles would have you believe).

    How many properties in SF are sitting right now vacant? I've seen data that it is around 10%. These are not even being used for AirBnB.

    If you prefer anecdotes, here is a couple. We bought our house last year, returning to the Bay Area after a few years living in France for work. We now could not afford the house we sold in Palo Alto just a few years ago. Went to many open houses; one was a 2500 square foot house (with basically zero lot lines). It was listed for $2.3 million dollars, had 30 offers, and sold for a million dollars over asking price.

    Another we looked at, at the foot of Twin Peaks (the two central hills in SF - for those familiar with the area, the Sutro broadcast tower visible for miles around sits on top of one) that said "House has been vacant for five years as investor property." It was owned by a family in Shanghai that bought it brand new, site-unseen, and let it sit for five years without ever setting foot in it, of the realtor is to be believed.

    Hmm, I don’t see any unoccupied housing where I live but it is not a fashionable part of the city. However, my house has doubled in value over the last 5 years though. My girlfriend lives in Pacifica which is down the coast and housing costs there are a little less insane even though it is a nice area. Could be that Chinese money is buying houses in area they know around Palo Alto and Los Altos which have insane prices forcing wealthy people into other neighborhoods. The SVP who heads my group is looking to move and even though she probably earns more than 400K she is having a hard time finding a place.

    Read More
  119. @Ivy
    Nixon's Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ "Diverse Americans" who don't all share the same reverence for what made the country a beacon. Times change, and fortunes turn so we have an opportunity to reassert our values.

    Nixon’s Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ “Diverse Americans”

    With all due respect the Nixon-China effect was minor. China really got turned loose on us (USA) after the fall of Russian communism. The early 1990s is when all these destructive free trade treaties like NAFTA were signed. Gatt-WTO is what allowed China to pump its low cost via slave labor industrial production into America. Putting all kinds of US factories and industries out of business. Blame American traitors in DC for not enacting anti-China tariffs and for not slashing businesses killing regulations. Self-enriching (you gotta follow the money here) Washington DC sleazes made it so US industries had to move their production out to Mexico, China and Asia or die and go bankrupt.

    Read More
    • Agree: Autochthon
    • Replies: @Steve Sailer
    A recent study suggests that outsourcing factories to China really got going in the late 1990s when the Clinton Administration signaled that there wouldn't be retribution from the White House. But I don't recall where I read that so don't quote me on it.
    , @Ivy
    My point was that Nixon's act laid the groundwork. Subsequent acts by 41 and Clinton on NAFTA and the encouragement of Wal-Mart in particular to import from China were catastrophic for so many communities across the country. Hillary was on Wal-Mart's board and Bill was in bed with them given their role as donors to his Arkansas and US campaigns.
  120. The list is pretty unrepresentative as they did not survey most of Europe and wealthy geographic enclaves such as Bermuda and the Bahamas.

    But hot Chinese money is definitely influencing the places surveyed.

    Read More
  121. @Clyde

    Nixon’s Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ “Diverse Americans”
     
    With all due respect the Nixon-China effect was minor. China really got turned loose on us (USA) after the fall of Russian communism. The early 1990s is when all these destructive free trade treaties like NAFTA were signed. Gatt-WTO is what allowed China to pump its low cost via slave labor industrial production into America. Putting all kinds of US factories and industries out of business. Blame American traitors in DC for not enacting anti-China tariffs and for not slashing businesses killing regulations. Self-enriching (you gotta follow the money here) Washington DC sleazes made it so US industries had to move their production out to Mexico, China and Asia or die and go bankrupt.

    A recent study suggests that outsourcing factories to China really got going in the late 1990s when the Clinton Administration signaled that there wouldn’t be retribution from the White House. But I don’t recall where I read that so don’t quote me on it.

    Read More
    • Replies: @Clyde
    Like they say... All kinds of large populations were cut off from participation in the greater world economy due to Soviet/East European communism and the lingering effect of communist rule in China. From the mid-1990s onward China gained more and more access to the European and North American economies. The profits from this flood of goods from China is what has made them wealthy today |plus| the always improving economy within China's borders. The Chinese have pulled themselves up by their bootstraps which also involved manufacturing and selling everything to the wealthy developed nations and the entire world. Example- Mexican manufacturers are being put out of business by cheaper Chinese imports.
  122. @Clyde

    Nixon’s Folly. That is how future historians will look upon the ill-advised opening up of China. Short term advantage over the USSR, long term blunder by turning loose a billion people to compete against 200MM+ Americans and now 300MM+ “Diverse Americans”
     
    With all due respect the Nixon-China effect was minor. China really got turned loose on us (USA) after the fall of Russian communism. The early 1990s is when all these destructive free trade treaties like NAFTA were signed. Gatt-WTO is what allowed China to pump its low cost via slave labor industrial production into America. Putting all kinds of US factories and industries out of business. Blame American traitors in DC for not enacting anti-China tariffs and for not slashing businesses killing regulations. Self-enriching (you gotta follow the money here) Washington DC sleazes made it so US industries had to move their production out to Mexico, China and Asia or die and go bankrupt.

    My point was that Nixon’s act laid the groundwork. Subsequent acts by 41 and Clinton on NAFTA and the encouragement of Wal-Mart in particular to import from China were catastrophic for so many communities across the country. Hillary was on Wal-Mart’s board and Bill was in bed with them given their role as donors to his Arkansas and US campaigns.

    Read More
  123. “China Relaxes Rules To Let Foreigners Purchase More Real Estate, In Attempt To Boost Slowing Economy …
    Restriction on property sales to foreigners were first introduced in 2006, in an effort to prevent speculation and cool a real estate market that was seen to be overheating, and in the process pricing many ordinary Chinese citizens out of the centers of major cities.”
    ————————
    “When a decade-long restriction on foreigners making property purchases in the Chinese mainland ended last month, expats across the country rejoiced. But for non-mainlanders in Shanghai, the news was nothing to pop the cork over. Despite being home to one-fourth of China’s foreign population, Shanghai upheld its restrictions against selling its golden real estate to outsiders.”
    ————————
    “Generally speaking, foreigners who have worked or studied in China for at least a year are permitted to buy their own property. Specific requirements, however, vary from region to region. For example, in Shanghai, foreigners have to be married and be able to provide the local authorities with tax receipts for 12 of the past 24 months in order to purchase a house. The Beijing government requires foreigners to have paid social security and taxes for at least 5 years before they are allowed to buy a house. Despite the municipal differences, foreigners can only own one property across China, and the property has to be residential. Foreigners are also required to use their purchased property for dwelling purposes only and are banned from renting it out.”

    http://www.ibtimes.com/chinas-biggest-real-estate-developers-partner-amid-slowing-property-market-1922164

    http://www.globaltimes.cn/content/942587.shtml

    http://www.maxxelli-consulting.com/home-buying-101-how-can-foreigners-buy-a-house-in-china/

    Read More
  124. @Steve Sailer
    A recent study suggests that outsourcing factories to China really got going in the late 1990s when the Clinton Administration signaled that there wouldn't be retribution from the White House. But I don't recall where I read that so don't quote me on it.

    Like they say… All kinds of large populations were cut off from participation in the greater world economy due to Soviet/East European communism and the lingering effect of communist rule in China. From the mid-1990s onward China gained more and more access to the European and North American economies. The profits from this flood of goods from China is what has made them wealthy today |plus| the always improving economy within China’s borders. The Chinese have pulled themselves up by their bootstraps which also involved manufacturing and selling everything to the wealthy developed nations and the entire world. Example- Mexican manufacturers are being put out of business by cheaper Chinese imports.

    Read More
  125. @Reg Cæsar


    “I think its a bit of a stretch to state that San Jose, CA is on the coastline.”
     
    San Jose is about as coastal a city as Sacramento.
     
    Or Asmara, which is 2,000' higher than Denver but (IIRC) closer to the sea than either SJ or Sac.

    The weather in Asmara, capital of Eritrea, is really nice: average high in the 70s twelve months of the year. And lots of Italian art deco architecture.

    Of course, the dictator will try to conscript your sons into the army for 25 year terms, so there are downsides. But still …

    Read More
    • Replies: @Karl
    > The weather in Asmara, capital of Eritrea, is really nice


    women aren't bad looking , either. Lots of Arab & Persian blood.
    , @Reg Cæsar

    Of course, the dictator will try to conscript your sons into the army for 25 year terms, so there are downsides.
     
    Daughters, too:

    https://www.wri-irg.org/node/11998

    http://awate.com/a-dystonia-like-sickness-inflicts-eritrean-female-conscripts/


    http://fithinews.com/index.php/2013-02-20-08-59-23/278-un-report-uncovers-rape-and-sexual-slavery-of-female-conscripts

    http://hrc-eritrea.org/more-shooting-of-innocents-because-of-forced-conscription-in-eritrea-eleven-shot-dead-in-asmara-including-woman-and-child-many-severely-wounded/

    http://hrc-eritrea.org/eritrean-conscripts-are-not-slaves/

    http://taskandpurpose.com/eritrea-is-the-last-place-in-the-world-you-would-want-to-serve-in-the-military/

  126. @Altai
    It's mental, we don't praise high food prices, why praise high prices for a place to live?

    And unlike high food prices where at least somebody doing something productive is benefiting, high housing costs are just a sunk cost of society going to the pockets of rentier parasites.

    The problem is the generation in power is largely not the one most affected, so nobody much cares. (Yet...) But the consequences of young people delaying family formation is toxic to society.

    40. Altai > rentier parasites

    here we go again with the SJW voodoo economics

    You know why you are able to buy fire insurance, Altai?

    It’s ONLY because speculators are willing to put their money on the table and SPECULATE that your house WILL NOT burn down this year

    PS: HongKong may look expensive if you live the “expat lifestyle”. but believe m…. the locals aren’t paying $8 for their morning cup of coffee.

    And they get to look at pretty girls in tight skirts rushing to the office, while they drink their 75-cent coffee

    Read More
  127. @RadicalCenter
    Well, the Japanese in Hawaii had better get ready for the Filipinos to start pushing into political power and then into more state and local government jobs.

    The Japanese population of Hawaii is somewhat older and apparently is not growing.

    The Filipino population of Hawaii is younger and growing steadily.

    First Guam and then Hawaii are going to end up as somewhat safer, less impoverished outposts of the Philippines.

    63 Radical Center > First Guam and then Hawaii are going to end up as somewhat safer, less impoverished outposts of the Philippines

    I write this in Guam (passing through, shipmate, just passing through)

    It’s been filipino operated since the git-go. Because no one in history has been able to get any serious amount of adult work out of the Chamorros.

    the Japanese tourists have been replaced by Koreans. Believe me, it’s true that Korean chicks patronize plastic surgery.

    Read More
  128. @Steve Sailer
    The weather in Asmara, capital of Eritrea, is really nice: average high in the 70s twelve months of the year. And lots of Italian art deco architecture.

    Of course, the dictator will try to conscript your sons into the army for 25 year terms, so there are downsides. But still ...

    > The weather in Asmara, capital of Eritrea, is really nice

    women aren’t bad looking , either. Lots of Arab & Persian blood.

    Read More
  129. @Anonymous
    It would be stupid to wage war with China simply because we're unwilling or unable to impose taxes and regulations on foreign investment inflows buying real estate. It also wouldn't be a defensive war in that case.

    “When I use a word,” Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Humpty Dumpty, “which is to be master—that’s all.”

    It would be stupid to pretend that invasion by millions of foreigners is not a casus belli, and that – so long as the invaders do not wear uniforms or openly bear arms – military repulsion of them constitutes aggression rather than defence. It would be stupider still to believe taxing and regulating realty is the most effective means of repelling invasions and uprooting colonists.

    I had not realised Matteo Renzi was now posting anonymously at The Unz Review. Doubtless the United States Navy cannot begin ferrying the Chinese over soon enough, eh? Ciao, Bello!

    Read More
    • Replies: @Anonymous
    I think deploying the US military to attack Chinese and other non-Americans in the US could constitute as defense, but that initiating war abroad against China or other foreign countries would constitute aggression. Just as there are millions of Americans abroad residing in foreign countries, and those foreign countries deploying military force against those Americans abroad could constitute as defense, but those foreign countries initiating war against the US would constitute aggression.
    , @Anonymous
    My point about taxation and regulation was with respect to dampening real estate prices.

    As for removing Chinese and other non-Americans from the US, that would involve immigration and residency law and domestic law enforcement, rather than taxation and regulation. It would be stupid to wage war against China simply because we're unwilling or unable to impose the relevant immigration and residency law and deploy domestic police authorities.
  130. @Formerly CARealist
    zero degrees Fahrenheit or zero degrees Celsius? Big difference.

    It certainly never dips below zero degrees Kelvin.

    Read More
  131. @Steve Sailer
    I don't know whether the study looks only at the municipality of San Jose, or at metro San Jose (i.e., Silicon Valley). Silicon Valley is definitely constrained geographically by salt water and mountains, plus a ton of anti-development regulations.

    Steve, the problems that constrain San Jose (more broadly, Santa Clara County and beyond) are more of the man-made sort than the natural.

    It of course goes without saying that if one stretches enough, all cities have physical boundaries. San Jose is not really radically different from Los Angeles; it can (and has) spread out over what is really a huge valley. It is not at all like San Francisco (which many might be surprised to learn is actually less than 50 miles square – the infamous Bay to Breakers foot race traces the entire width of the city; I have run it in less than 50 minutes), which IS hemmed on three sides by water, and within its borders, has some extremely hilly areas that limit building.

    Environmental and zoning limits, as well as the impacts of Proposition 13 that make housing extremely unattractive for cities, and strip malls comparatively desirable, is what has limited the housing supply.

    San Jose of course could continue to spread southward towards Salinas, or eastward up the relatively mild slopes of the Diablo Range.

    All of this ignores that supply and demand are competing interests; here, no matter the supply, if the demand is unbounded, you ultimately will not be able to keep up. How many people “should” live in San Jose? One million? Five? Twenty? Who decides?

    I hate to sound like a broken record, but the fact is, there is unbelievable cognitive dissonance here. On the one hand, we need to be “welcoming’ to any and all immigrants to the area, no matter how ill-equipped to function in a modern economy, no matter how uneducated and unskilled, or insoluble to the culture.

    But WHERE to put the people? Not my problem.

    Read More
    • Replies: @Steve Sailer
    Similar to my experience since the late 1960s in Southern California: the rich and powerful people of Beverly Hills and Malibu are very welcoming of immigrants to America, but they sure aren't welcoming of Americans to Beverly Hills and Malibu.
  132. @mobi
    Look out, Seattle...

    http://www.theglobeandmail.com/news/british-columbia/vancouvers-new-tax-pushes-chinese-buyers-to-seattle-toronto/article33211473/

    Vancouver brought in a 15% tax on home sales to 'foreign money' a few months ago. So far, home sales have tanked.

    Though, that likely won't last.

    Vancouver brought in a 15% tax on home sales to ‘foreign money’ a few months ago. So far, home sales have tanked.

    Here is the sales change from the article:

    In Vancouver, meanwhile, sales have plunged since July and were down 37 per cent last month compared with the prior year.

    I skimmed the article and didn’t see a mention of a change in prices. Did prices tank as well? It seems like throwing that big of a monkey wrench into the supply/demand equation should move the price as well.

    Read More
  133. @Autochthon
    You didn't finish connecting the dots: the overpopulation by employees of the corporations you refer to is achieved, overwhelmingly, by their imported helots from Asia.

    I hereby bequeath upon you the Distinction without a Difference Award for Fallacious Propaganda. Curry on.

    >Curry on.

    LOL and a delicious post. Thanks! 8-)

    Read More
  134. Anonymous says:     Show CommentNext New Comment
    @Autochthon

    "When I use a word," Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Humpty Dumpty, “which is to be master—that's all.”
     
    It would be stupid to pretend that invasion by millions of foreigners is not a casus belli, and that – so long as the invaders do not wear uniforms or openly bear arms – military repulsion of them constitutes aggression rather than defence. It would be stupider still to believe taxing and regulating realty is the most effective means of repelling invasions and uprooting colonists.

    I had not realised Matteo Renzi was now posting anonymously at The Unz Review. Doubtless the United States Navy cannot begin ferrying the Chinese over soon enough, eh? Ciao, Bello!

    I think deploying the US military to attack Chinese and other non-Americans in the US could constitute as defense, but that initiating war abroad against China or other foreign countries would constitute aggression. Just as there are millions of Americans abroad residing in foreign countries, and those foreign countries deploying military force against those Americans abroad could constitute as defense, but those foreign countries initiating war against the US would constitute aggression.

    Read More
  135. Anonymous says:     Show CommentNext New Comment
    @Autochthon

    "When I use a word," Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Humpty Dumpty, “which is to be master—that's all.”
     
    It would be stupid to pretend that invasion by millions of foreigners is not a casus belli, and that – so long as the invaders do not wear uniforms or openly bear arms – military repulsion of them constitutes aggression rather than defence. It would be stupider still to believe taxing and regulating realty is the most effective means of repelling invasions and uprooting colonists.

    I had not realised Matteo Renzi was now posting anonymously at The Unz Review. Doubtless the United States Navy cannot begin ferrying the Chinese over soon enough, eh? Ciao, Bello!

    My point about taxation and regulation was with respect to dampening real estate prices.

    As for removing Chinese and other non-Americans from the US, that would involve immigration and residency law and domestic law enforcement, rather than taxation and regulation. It would be stupid to wage war against China simply because we’re unwilling or unable to impose the relevant immigration and residency law and deploy domestic police authorities.

    Read More
  136. @DWB
    Steve, the problems that constrain San Jose (more broadly, Santa Clara County and beyond) are more of the man-made sort than the natural.

    It of course goes without saying that if one stretches enough, all cities have physical boundaries. San Jose is not really radically different from Los Angeles; it can (and has) spread out over what is really a huge valley. It is not at all like San Francisco (which many might be surprised to learn is actually less than 50 miles square - the infamous Bay to Breakers foot race traces the entire width of the city; I have run it in less than 50 minutes), which IS hemmed on three sides by water, and within its borders, has some extremely hilly areas that limit building.

    Environmental and zoning limits, as well as the impacts of Proposition 13 that make housing extremely unattractive for cities, and strip malls comparatively desirable, is what has limited the housing supply.

    San Jose of course could continue to spread southward towards Salinas, or eastward up the relatively mild slopes of the Diablo Range.

    All of this ignores that supply and demand are competing interests; here, no matter the supply, if the demand is unbounded, you ultimately will not be able to keep up. How many people "should" live in San Jose? One million? Five? Twenty? Who decides?

    I hate to sound like a broken record, but the fact is, there is unbelievable cognitive dissonance here. On the one hand, we need to be "welcoming' to any and all immigrants to the area, no matter how ill-equipped to function in a modern economy, no matter how uneducated and unskilled, or insoluble to the culture.

    But WHERE to put the people? Not my problem.

    Similar to my experience since the late 1960s in Southern California: the rich and powerful people of Beverly Hills and Malibu are very welcoming of immigrants to America, but they sure aren’t welcoming of Americans to Beverly Hills and Malibu.

    Read More
  137. @Jimbobla
    This is a typical hate the Chinese commentary. How they do business (suitcase full of cash) is not necessarily a sigh of being crooked. How did they get that suitcase here and why do you care in the first place. And come-on, my nephews-wife's-cousins-father in laws agent, or whatever that was. This is how propaganda is presented these days. Not overtly, but subtly, meant to leave one with an impression, a prejudice to see someone or a group in a negative instead of a neutral light. China as the enemy, as is Russia. Not so many people are buying what you are selling these days. Let's do business with whoever wants our business. Caveat Emptor refers to the buyer, not the seller. You want to offer me a premium for my product? Ring my doorbell. We'll do business. I'm not in the business of catching multi-national crooks. Cash is king.

    Come on, I’m of Chinese ancestry and even I can’t stand the mainlanders ruining the Bay Area.

    Read More
  138. @Girl
    Chinese

    Chinese

    Excellent, send jpegs, front, back, and a profile view (with no bulky jacket).

    Thx.

    Read More
  139. I’m very late to this thread, and haven’t read all of the comments yet, but I did scan for “zerohedge”. I am surprised there were no matches, as there’ve got to be some zerohedge* readers here, I’d figure just from the odds, and they’ve been all over this Chinese-caused housing bubble all over the west coast cities for years now.

    This article from just yesterday, called Chinese Capital Controls Threaten Property Bubbles All Over The Globe As Buyers Lose Access To Cash, well, the title says it. Besides just wanted to get their hard-earned (NOT) cash out of the country, the Chinese have got a big thing about living near water – the Feng Shui deal – the “Shui” part is water. they feel that you will have a luckier life if you live very near the water to where you can see water out the front door – funny cause most of them can’t swim, they don’t drink beer on inner tubes, and they don’t surf (we all know that “Charlie don’t surf!”, right?)

    This money, BTW is not solely going to coastal cities, I see it any university town – these people still think a piece of paper from an American university is gonna mean something.

    As to San Jose, I wouldn’t consider it a coastal city myself, and I’ve been everywhere in this here land.

    *******************************
    *Full Disclosure: I have no connection to that website other than that the writers call themselves “Tyler Durden” off of the movie Fight Club, and I think that movie sucked! Remember the 1st and 2nd Rules of Fight Club – “You don’t talk about how hard the movie sucked.”
    *******************************

    Read More
  140. @Jim Don Bob
    Celsius. Canadians are into that metric thing like weighing their supermarket vegetables in hectares.

    Hahaha ….

    Read More
  141. @anon
    it's a side effect of the banking mafia's betrayal of America

    off-shoring created a massive trade imbalance where Chinese goods are paid for in debt - which will eventually be worthless when the US is forced to default

    so they recycle the debt into the only thing USUK has left which has any value - land and property

    effectively USUK is paying for their iphones in acres

    (the banking mafia always destroy the host economy)

    See, now you’ve gotta be a zerohedge reader, right, anon? (please correct me if I’m wrong).

    Read More
  142. I think there is a good chance a lot of these absentee owner oligarch properties will be seized by squatters with the tacit support populist governments in the coming years. I foresee prime real estate being apportioned to revolutionary heroes. Something for investors to consider.

    Read More
  143. anon says:     Show CommentNext New Comment
    @RadicalCenter
    We beg to differ. Here in downtown Los Angeles, we directly and immediately see the effect of the top one percent of China and to a lesser extent India coming here and paying crazy sale prices and rents that the rest of us cannot hope to compete with. It's not of course the only factor in the LA or SoCal housing affordability problem, but downtown and in some desirable coastal areas it is a noticeable factor in the mix.

    Of course, with the amazing weather here, there will always be rich people of some background bidding things up. But we didn't have to exacerbate things by letting so many rich Chinese in. Or so many Chinese in period.

    La County has cheaper places like Palmdale which is why the county median is 550,000 versus 665,000 in OC. The worst effective market I think is Orange County because of the Chinese. Irvine could be about 200,000 cheaper and the OC would not be 665,000 median housing prices. Downtown LA and the beach areas are the worst along with the Sam Gabriel areas with Chinese.

    Read More
  144. The most precious thing we had was our space. We are so stupid to share it with 10 or 20 or 100 million Asians. Doesn’t matter how much of our cash they bring back.

    Read More
  145. I should add that inland LA is like a colony of 1 million Chinese just plopped down into a mellow u.s. Suburb and took over. These aren’t rich people either. I don’t know how they make money but they replaced the natives and don’t speak English to each other (if at all).

    Read More

Comments are closed.

PastClassics
The major media overlooked Communist spies and Madoff’s fraud. What are they missing today?
The evidence is clear — but often ignored
Which superpower is more threatened by its “extractive elites”?
What Was John McCain's True Wartime Record in Vietnam?
The “war hero” candidate buried information about POWs left behind in Vietnam.