Interesting. When we went to Sacramento yesterday, we passed through the mega shopping district of Roseville. And we noted that there was a Jo-Ann’s craft/fabric store there. Since I’m still looking for the ‘hot wax’ gun, we decided to stop and see if it was available. No such luck…but it was the largest Jo-Ann’s store we’ve ever seen. And there was also a new Stein Mart store; a store we’ve never been to before. Nothing interesting there so we moved on to explore a very large store with an odd name. RC Willey. We had seen the store from the freeway but it wasn’t till we got close to it that we could see that it was a furniture and electronics store.
We had no schedule to keep so we decided to look around for awhile. We’re suckers for furniture stores; enjoying the looking and not necessarily the buying. So why not look? Well, we did and it was huge store, well laid out, and the prices were surprisingly quite low. And this morning I decided to investigate the store via Google. For starters, it’s owned by Warren Buffett. Of course! That would explain why the prices are so low and the store looks so good. He also owns Nebraska Furniture Mart, our all time favorite furniture store.
I’ve always wanted to own some stock in the company that Mr. Buffett runs; Berkshire Hathaway. But…just one (1) share was valued at $109,255 at the close of the stock market on Friday. I guess I’m not in the market for it right now. If I ever win the lottery, I will celebrate by buying one share. OK, maybe two.
After a long day of dodging traffic and people, we were glad to get back into the country. But; I had to note the stark differences between our part of the valley and the greater Sacramento region. There are no economic woes down there. The region is bustling and there are new developments everywhere. And it underscored for me the lie that Reagan helped to spread; the lie of ‘trickle down’ economics. Wealth never trickles down! It only comes from those who are buying, not from those who are selling. This is why an agricultural based economy will never be profitable for all of the citizens. The wealth will always remain in the hands of the few. Poverty and agriculture go hand in hand.
But I do love the quiet...
Sacramento has grown considerably... From my perspective, as a result of the Bay Area becoming too congested and/or expensive. That said, it's on the list as being one of the most over-inflated regions in terms of home value, and people still don't make a whole lot. Foreclosures are at record highs.
ReplyDeleteI think agricultural communities do have something going for them in that there will always be agriculture... Whereas when the real estate market falls out from Sac, I'm not certain what will happen.
Of course, being from the Bay Area, I have a bias and always look at Sac as the Bay Area's wanna-be cousin who'll never live up. :-)
The Bay used to look at Sac as just an agricultural hub. As people expand outside of Sac, Chico will be a destination.
Oh, yes...perspective is everything. When living in Roseville we considered Sacramento to be less than chic, much less!
ReplyDeleteI'm a believer in real estate. When it cools off, as it will; the land will lose market demand but it won't lose its value if you have the patience. Owning real estate makes sense...speculating in real estate is gambling