# Cali Influence on Utah Home Prices



## Stickboy2 (Sep 6, 2019)

Are Californians to blame for Utah's surging home prices?


It's a common story heard throughout Utah's housing industry: Californians are arriving with plenty of cash in hand, outbidding local homebuyers and driving up the costs of housing; but a new analysis shows that's not the reason for steep increases in home and rental prices.




www.ksl.com





The article attempts to account for fewer Utahns leaving as a more plausible reasoning for skyrocketing home prices, reading thru the comments it appears there are quite a few who aren’t buying that angle.

$10,000 non-refundable earnest money....or don’t waste your time putting in an offer? All I can say is wow. I think most appreciate a steady growth in the value of thier home....but skyrocketing prices never really turn out for anybody.


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## Springville Shooter (Oct 15, 2010)

My outside observations tend to agree with those expressed in the comments but there is still one nagging thing that I can't figure out. If there is truly a mass exodus from California that is substantial enough to raise prices in Utah and other states, why are prices also skyrocketing in California? I have about 20 employees who live all across CA and they are experiencing similar or even more inflation in housing cost and extremely low market availability. Simple economics would predict that there should be an reciprocal effect if 'everyone' is leaving CA. We are actually having to consider company housing again to help out younger employees while they save for permanent housing. Where are all the available homes left by the refugees who are moving to Utah, Idaho, Nevada, and Wyoming?----SS


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## backcountry (May 19, 2016)

Prices in Utah are nuts. Our home value will have looked to double in about 4.5 years. It's obscene.

The immigration issue into the state plays a role but not nearly what people claim. It's hard to ignore the analysis in the article. If people are suddenly moving out of state less than that would have a huge impact on inventory.

Add in the decreased glut of wood from Canada (reclaimed beetle infested wood that has been largely depleted), the loss of inventory of wood from many mills shutting down for a short period during the pandemic, the hobby building like I did and you have other variables obviously sparking the price increase. I think buyers are semi-panicked they will be locked out if they don't buy now which is driving extreme behavior like tens of thousands of dollars over asking price despite an already ridiculously inflated value and houses selling in less than a week.

This is a nasty bubble but I have no clue of it will pop or not. Too many unique variables at play. But I do know homes in Cedar aren't worth more than luxury homes in gated communities in resort beach towns and I know first hand that is happening. It's crazy and it's hard to believe it's going to end well. Best case scenario is a generation of lower middle class workers that make up a huge part of our economy just got screwed out of the "American dream".


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## Clarq (Jul 21, 2011)

I shopped for a house in 2019 and 2020. I think some of the blame rests on the current moratoriums on evictions and foreclosures. A nontrivial portion of the housing inventory in 2019 were foreclosures and short sales. By mid 2020 that option was gone for me.

I was lucky to get into my house in November 2020. I thought the market was absurd then... I can't believe how much worse it is now.


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## backcountry (May 19, 2016)

There were still a fair number of short sales in 2019 where you live? We looked into that option in 2016-17 when we bought but they were few and far between. We were told the numbers had flatlined. I really wish we had the money after the last crisis to buy even sooner but glad to have locked in before this madness. Our small, current house would be out of range for us if comparables tell an honest story.


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## Bax* (Dec 14, 2008)

I’m reminded of the California exodus after the Northridge earthquakes in the early 90s (my wife came to Utah as a result).

Tons of Californians came here after that.

I remember them having such a superiority complex because they came from a dumpy little house that was garbage by most standards but sold for a crazy high amount compared to Utah and then they came here and bought enormous homes.


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## PBH (Nov 7, 2007)

down here in Cedar, we include the Wasatch Front in the term "Californians". 🤷‍♂️

Last year (2020) in April we put our home up for sale. It sold in two days to lady from Orem. It was actually nice to see someone from Utah buy a home in our neighborhood. Typically we see a lot of Nevadans (just as bad as Californians!).


(I liked the emojis in the old forum better)


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## Fowlmouth (Oct 4, 2008)

Built my first house in 2001, sold it during the recession in 2008. Got lucky and almost doubled my money. Built the second, and current house I'm living in during the recession and saved 60k from the previous years prices. I want to build again, but with the current high prices of housing, I'm not sure I would be upgrading or downgrading.


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## Lone_Hunter (Oct 25, 2017)

KSL isn't exactly what I'd call an unbiased news source. They do spin a narrative. Despite their claims, there is a metric buttload of Californians moving here now. Has been for some time. Right along with people from Oregon and Washington.


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## merrykeys (Oct 10, 2021)

The only thing I want to say is that California is expensive. When I first arrived there, I was shocked by the prices of housing. Yes, it costs a fortune to live in California, but you get an exciting and powerful environment in exchange for the money. People want to live here and overpay just for lively contact and fellowship. California knows how to work with the most excellent talent. They've managed to create a culture and an organization where people dream of working. My fondest dream is to move there, save up money, and build a house according to my plan, of course with the help of experts https://www.boutiquehomeplans.com/cost-to-build  I contacted them once, and I liked the way they answered all my questions.


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## cowboy (Oct 12, 2021)

No way this housing market is sustainable. No way. When this thing bursts it will make 2008 look like a birthday party.


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## CAExpat (Oct 27, 2013)

Utah is breaking its neck to be California just as fast as it can. I witnessed firsthand the insanity in CA in 2008, and UT is repeating lockstep. Same thing with water and utilities as well; UT will be even MORE like CA here very soon. Time to start looking at a different state, again.


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## DreadedBowHunter (Sep 22, 2021)

It’s all government secret societies Price Fixing. All that printed cash stimulus causes inflation as I said a year and a half ago. The vaccine mandate is to blame for the tyranny. Trucker shortage? No there are truckers waiting at the ports, it’s the government blocking imports. Gas price hike? Government price fixing. It’s all a scam from Government insiders Price Fixing. I could go into absolute detail but I don’t know who is affiliated with those secret societies on this website so I’ll let people dismiss what I’ve stated because I’ve already done the research and don’t need to debate with people that don’t believe what I’m saying about the Destructive Government and their Agenda 2030, or about Event 201 precursor to the Covid19 fraud. California has the exact same problem as do all the other states with housing and inflation. It’s Joe Bidenflation nationwide. People work from home and can gain from interstate markets. My wife works for a California Hospital from home here in Utah and she makes California wages so if anything people like her are bringing in more income for Utah itself. People are leaving Commifornia because it’s about to implode due to tyranny and it’s not their fault for fleeing etc. It’s easy to blame people and not point finger at the government itself because Cognitive Dissonance is getting people mad at the wrong influence of this critical problem. Read the Declaration of Independence and look for the wording of Destructive Government and that it’s the RIGHT of the people to do what? Let’s see who knows that clause and what it actually means 🤔


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## Lone_Hunter (Oct 25, 2017)

What is happening to our state?


A game animal being involved is not an exigent circumstance on its own. Exigency usually involves the need to enter immediately without a warrant to protect the officer or someone else, to prevent escape of a suspect, to prevent the destruction of evidence, etc. There absolutely could have...




www.utahwildlife.net





Read what I posted earlier. Tell me i'm wrong.
The only thing i'd change to what I wrote earlier, is that it isn't just california, it's washington and oregon too. If you don't already own a home, your not going to without a lot of money and heartache. Sadly, I don't think this housing market SNAFU is just Utah, its everywhere now to varying degrees. Considering companies like blackrock are buying up housing and turning them into "Single famly rentals", and there seems to be an exodus from large metro areas into "fly over country", there isn't too many places to run to that remain.


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## Steve G (Nov 29, 2016)

Watch out boys. CA has metastasized.


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## Rogerrda (12 mo ago)

The housing market is a very fickle thing. Housing problems can arise not only in Utah but in any other state. This price behavior is not the fault of Californians, so you can't condemn them in this case. When I bought my house, it was 100k cheaper than it is now, and it's only been three years. The real estate market constantly evolves, and you have to accept these prices. House prices are not the most important thing, because you can always take out a mortgage, as I once did. I turned to Mortgage Advisor Cambridge for help in getting the best mortgage terms and not wasting my time.


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## toasty (May 15, 2008)

Rogerrda said:


> The housing market is a very fickle thing. Housing problems can arise not only in Utah but in any other state. This price behavior is not the fault of Californians, so you can't condemn them in this case. When I bought my house, it was 100k cheaper than it is now, and it's only been three years. The real estate market constantly evolves, and you have to accept these prices. House prices are not the most important thing, because you can always take out a mortgage, as I once did. I turned to Mortgage Advisor Cambridge for help in getting the best mortgage terms and not wasting my time.


I wish I knew a way to contact Mortgage Advisor Cambridge for my mortgage needs....

I came here looking for information about wildlife in Utah and left with a new mortgage company.


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## gdog (Sep 13, 2007)

“……population will still increase 66% in the next 40 years”









Report: Utah's growth rate to fall, but population will still increase 66% in the next 40 years


Utah is already the nation's fastest-growing state, and a new report published Wednesday finds there's really no signs that'll change anytime soon.




www.ksl.com


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## colorcountrygunner (Oct 6, 2009)

gdog said:


> “……population will still increase 66% in the next 40 years”


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## DallanC (Jan 13, 2009)

Make'em live in Callao 

-DallanC


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## Molelaner (Aug 28, 2021)

Rogerrda said:


> The housing market is a very fickle thing. Housing problems can arise not only in Utah but in any other state. This price behavior is not the fault of Californians, so you can't condemn them in this case. When I bought my house, it was 100k cheaper than it is now, and it's only been three years. The real estate market constantly evolves, and you have to accept these prices. House prices are not the most important thing, because you can always take out a mortgage, as I once did. I turned to Mortgage Advisor Cambridge for help in getting the best mortgage terms and not wasting my time.


Thanks


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