I think the author almost found reason #5. The expensiveness of the real estate is even bigger than the state government’s debt and other liabilities. Among other things, it’s probably the prime contributor to both the high cost of living and the unusually great disparity in income and regional economic inequality.
Most of the real estate bubble is the result of the state’s tax and regulation environment. The rest, demand, is probably due to the failure of the nation’s public education system.
Haven’t seen much on the Californio proposal to succeed from the Union and create a buffer state using the Native Americans. Progressives just can’t help themselves when it comes to abusing the natives but the plan could backfire because the Californios would rely on water that comes through Native American territory.
I think the author almost found reason #5. The expensiveness of the real estate is even bigger than the state government’s debt and other liabilities. Among other things, it’s probably the prime contributor to both the high cost of living and the unusually great disparity in income and regional economic inequality.
Most of the real estate bubble is the result of the state’s tax and regulation environment. The rest, demand, is probably due to the failure of the nation’s public education system.
Haven’t seen much on the Californio proposal to succeed from the Union and create a buffer state using the Native Americans. Progressives just can’t help themselves when it comes to abusing the natives but the plan could backfire because the Californios would rely on water that comes through Native American territory.