Sir smithlabs! the once Golden State is now a Sad State. But still, many people are moving there each year, almost as many as are moving out. You have to be rich to move there though. So I expect the insanity to continue.
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It sure is NOT golden any longer! The state is working at being the largest tent city in the country.
A Sad end to a once great state....
:)>True but with all the wealthy libs moving in from New York and Illinois I think they'll stay in business for many more years.
They are imploding. Spending is destroying their ability to recover. WHEN, not if, the real estate prices crash (like they did decades ago in Tokyo), they will be down for 40+ years!
They have restricted the power grid in Ca, so it is 20 years out of date, with double the loading. That have no local water source. They are already at risk, and continue to dig themselves in deeper!
:)>Very true of course but with the wealth pouring it they'll be able to prop things up for many more years I think. the real estate is so desirable out there that it might take ten years to recover from a crash.
That was what they thought in Tokyo. They STILL Haven't recovered; and it is 30 years in!
You could not PAY me enough to live there ( I have had offers from Ca.), and I am not the only one....
>:(yeah yeah yeah, I know all about the Japanese problem but it sure ain't California, it's growing. Mostly illegal but it's growing! lol. No, the wealthy libs love it so they're moving there in droves. and the working class are moving here.
They share the same problem, their evenomy is supported by inflated real estate prices. Mortgage bundles support business loans, when one fails, the other dries up!
It has been an easy high income investment, so a lot of businesses have dumped a lot of their cash there. When it drops by 75%, which is about the inflated rate there; it will break a significant portion of the tech industries.
This is exactly what happened in Tokyo, including the mortgages used as a guarantee.
:'(