I wonder is Sacramento's high taxes has anything to do with its housing decline?
Excellent question. The California property tax rate is, I've read, about1.25 percent of the purchase price. So if they're purchasing houses that average 500k or above, they have a stiff monthly property tax, on top of the mortgage. Add in the high sales, gas and income taxes, and you have to wonder why middle class people would want to stay in California. The government is socialist, Arnold at best has just kept it from going even more socialist, but he hasn't been able to push back any of the bad policies already in place (even if he were committed to trying). And after Arnold, well by then the newcomers from Mexico and South America will be voting in numbers big enough to give California a Mexico-like government of REAL socialism and corruption.