So, a house in San Francisco just sold for $2.25 million, in Noe Valley, not Nob Hill, and it was just 756 square feet. Work the math, that is just shy of $3,000 per square foot.

And people wonder why I had to abandon my home state in 1991. The government there made a conscious decision to crowd the poor and middle class out entirely, and the remaining wealthy live like hobos in their tiny multimillion dollar houses.

This is what collapse looks like from my point of view.

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No. 1-1

As long money is coming in from Asia, California wont have a problem. This year they added LeBron James as a taxpayer. Every megastar pays more in taxes then about about 10000 middle class taxpayers. It is easier to given tax incentives to big fish and let more people who pay less in taxes leave. One of my colleagues lives in an upper middle class neighborhood in Irvine where he is the only working stiff. Everyone else drives Lamborghinis and is straight out of crazy rich asians.

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