Rush Limbaugh talks to his listeners about why California housing prices are skyrocketing and mentions a few of his opinions as to exactly why this is happening. If you wish to re-listen to this broadcast, you can do so here.
There is also a transcript online covering this segment. Here is an excerpt:
Now, what do you think the reason for this is, Mr. Snerdley? Why is it so difficult, why are only 25% of home buyers in California first time home buyers? Why for the first time the majority of Californians make less than half the income needed to buy a home, less than half the income? No, I think it has to do with taxes. I think it has to do with taxes. I think it has to do with confiscatory taxes.
I don't know if they'd be the largest contributing element to this but you take a look at the federal tax burden, the state taxes out there are just outrageous, almost as bad as New York. And you also take a look at the influx of illegal immigrants who now make up, you know, their own portion of the population out there, who, by definition, are not going to be able to legally...
So pretty soon we're going to have illegal homes for illegal aliens because we can't allow this kind of suffering to go on out there. But I'm telling you taxes have to be a huge factor in this. Why are the prices so high? Why are the prices so much higher there than, say, anywhere else in the country? (Interruption) Well, in certainly parts they are, certain parts. You go into certain parts of the coastal areas, San Francisco, Monterey.
I mean I was playing golf in the AT&T back in February, and I was on the Pebble Beach course, it was on Saturday and I'm walking up the 14th fairway, the big, long par five and my caddy who was a local guy or one of the caddies in the group was a local guy. He said, "Go over there and you see that little mailbox looking thing sticking up?" It was right there on the out of bounds boundary of the fairway and there was a house there. He said, "Go take a look at what's in that box". So I walked over there, said okay, the guy had his house for sale. He was advertising his house for sale to people playing golf on the Pebble Beach course.
If you would like to read the entire transcript, you can do so by visiting the following link:
http://www.rushlimbaugh.com/home/daily/site_050605/content/truth_detector.guest.html
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