Posted on 11/28/2008 6:41:11 AM PST by reaganaut1
[California] appears headed, if not for imminent disaster, then toward an unanticipated, maddening, and largely unnecessary mediocrity.
Since 2000, California’s job growth rate— which in the late 1970s surged at many times the national average—has lagged behind the national average by almost 20 percent. Rapid population growth, once synonymous with the state, has slowed dramatically. Most troubling of all, domestic out-migration, about even in 2001, swelled to over 260,000 in 2007 and now surpasses international immigration. Texas has replaced California as the leading growth center for Hispanics.
Out-migration is a key factor, along with a weak economy, for the collapse of the housing market. Simply put, the population growth expected for many areas has not materialized, nor the new jobs that might attract newcomers. In the past year, four of the top six housing markets in terms of price decline have been in California, including Sacramento, San Diego, Riverside, and Los Angeles. The Central Valley towns of Stockton, Merced, and Modesto have all been awarded the dubious honors of the highest foreclosure rates in the nation during the past year.
Even with prices down, many of the most desirable places in California are also among the most unaffordable in the nation. Less than 15 percent of households earning the local median income can afford a home in L.A. or San Francisco. In Santa Barbara, San Diego, Oxnard, Santa Cruz, or San Jose, it’s less than a third. That’s about half the number who can buy in the big Texas or North Carolina markets. Moreover, state officials warned in October that they might have to seek as much as $7 billion in loans from the U.S. Treasury. This is a disappointing turn for a state that once saw itself as the harbinger of the future.
(Excerpt) Read more at american.com ...
Yeah, if you don't mind the goats, drunken parties every Sunday and incessant oompah music.
It's like any other group. Some are fine, others not. The trouble is a lack of a unifying national culture. Multiculturalism has doomed us to fighting one another for dominance. This is the legacy of not teaching and instilling a national unifying culture. Now we are defined solely by race or cultural group.
The next round of tax increases designed to keep CA competitive with Michigan should seal the fate of the once great CA.
Liz, please repost your examples of blatant illegal mortgages in America.
Does traditional family values include 50% out of wedlock births?
Hispanic Family Values? Runaway illegitimacy is creating a new U.S. underclass.
Not in the part of Kalifornia I live in. The cost of meeting regulations and in-lieu taxes for development from DC to state, county, cities and special districts is a huge burden. It can take several year before you break ground on a project and the cost of construction has increased 20 to 25% during that period...
The map link doesn’t work.
“...Out-migration” currently exist in the English language as “emmigration?””.
You must be one of them William F. Buckley types showing off your education and your big words. Nowadays we have to dumb things down doncha know.
“Democrats would like to do on a national level what they have done in California.”
Exactly.
“I bailed in 97 and never looked back.”
I bailed in 1979 when I was in my late 20s.
You are right, except that emigration only has one “m”.
“Minnesota is probably the next California. The number one employer in MN is government.”
I believe you are right. Minnesota has a very strong socialist bent to it. I think it very well may be the next California, in the sense that it’s out-of-control leftist policies will collapse the state and turn it into a third-world hellhole.
“America is under siege by the left-wing extremists.”
And America has just elected one of the most extreme examples of that to the presidency of the U.S. The United States is committing suicide.
It still is the harbinger of the future. California spends too much, taxes to much and regulates too much. When a state's civil servants are buying 4,500 sqft houses, there's trouble.
” The trouble is a lack of a unifying national culture. Multiculturalism has doomed us to fighting one another for dominance. This is the legacy of not teaching and instilling a national unifying culture. Now we are defined solely by race or cultural group.”
Your comment is spot on. (See my tag line.)
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