The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)

Go

to a

state

friendly

to economic prosperity

(i.e.

,

states

with no or

low

state

income

tax).

Trumping the Land Barons i171

WHERE

TO

BE

AND

NOT

TO

BE;

THAT

IS

THE

QUESTION

Environments worse for employees and employers are worse

for you.

The

California I was raised in was the Golden State, the

one that set the trends America followed.

No

more. It's losing

population while losing wealthy and high-income

citizens-but

taking in no-income deadbeats.

It

may be today's worst state to start

out

as a wannabe land baron.

It

suffers America's most complex and

often contradictory local regulations. Unlike decades ago, it now

has the worst labor laws and worst judicial system for employers

and

employees-that's

real, social-based, and won't go

away.

First they constrict construction.

Then-I

kid you

not-eity

commissioners write hypocritical, affronted letters to newspapers

deploring how land baron's expensive real estate prevents "mid-

dle class" families from living in their communities!

The

solution?

Raise income and sales taxes to get the money so they, the politi-

cians, can fix everything. Amazing!

Right now,supply is exceedinglylimited and demand unstoppable.

Demand will fade as the wealthy and high-income flee. My general

recommendation:

If

you're starting down this land baron road, don't

do it in places like California unless you have super political clout.

A

Pothole

in

the

Road

I'm

not

in a big hurry, but I'd like to sell my California commer-

cial real ...