We are getting people from the coast and Los Angeles coming in to Bakersfield, bringing money they got for their overpriced homes and bidding on houses here. They are usually paying more than the listed price. All this is doing is driving the housing costs here through the roof.
I have a rental that 18 months ago was worth about $140,000. An identical home on the same block just sold for $245,000. Soon it seems like housing costs are going to be as high as in Los Angles and it will be next to impossible for young families to afford a home. Another effect of this problem is the price of rentals is also going up. Some people think the housing boom is great news. I can only see the problems it will cause in the long run.
Alvin Tullis, Bakersfield