For Californians, the golden dream depends on where you live and how much you earn (Saratoga: homes, to buy)

[Finper]

Originally Posted by Csonka

My gut feeling was always that Newsom would preside over a California economy in decline, because that is just the timing of it and he's that kind of guy who easily gets blamed for things

I think we see a recession during his tenure and then a flattening to slow uptick toward the end of it but either way he gets the boot in 2022

a state recession or a nationwide recession??? I'm planning on selling my condo next summer so hope it doesn't get too bad or we can recall that idiot psychopath.

[Csonka]

Originally Posted by Finper

a state recession or a nationwide recession??? I'm planning on selling my condo next summer so hope it doesn't get too bad or we can recall that idiot psychopath.

Statewide

then national

Just my gut feeling. Always seems that CA is first into recession and first out

[Csonka]

Originally Posted by New Englander

What is the California dream? I am curious to read your thoughts about it, as I am am a New Englander not as familiar with California.

California is a beautiful state with temperate weather, I would love to own to a second home there.

The California Dream was always more about being your own boss, starting your thing, etc

It was always an entrepreneurial vision versus the very corporate-based big business vision of the Northeast

[CaliRestoration]

Originally Posted by Csonka

Just my gut feeling. Always seems that CA is first into recession and first out

Not during the last recession. California was very late to recover compared to other states.

[nairbdes]

Originally Posted by V8 Vega

The California dream is to have bought your house a couple of decades ago.

Or between 2009 - 2013!

[Csonka]

Originally Posted by CaliRestoration

Not during the last recession. California was very late to recover compared to other states.

That's not very telling, and that's only Texas

CA always has above-average unemployment

In terms of the economy turning around and housing markets, CA seemed to be ahead of the national trend last time.

[CaliRestoration]

Originally Posted by Csonka

That's not very telling, and that's only Texas

CA always has above-average unemployment

In terms of the economy turning around and housing markets, CA seemed to be ahead of the national trend last time.

You're thinking about California before socialism took over. Different California, I've realized.

Once those entitlement programs start getting hit hard due to recession type budget cuts, watch out.

[msgsing]

Well not necessarily especially for the older folks here. State tax is progressive. Big salaries big taxes. Retired with SS and modest pension. Minimal state tax. Homes. Older folks have paid off homes. Prop 13 put a check on excessive escalating property tax.

Example. Cousin lives in Saratoga in the Bay Area. One of the most expensive cities in the US. Paid about 37,000 in the 70’s for her home. Current price 1.3 million. Property tax 1,300 thanks to prop 13. Not bad if I do say so. Socialism for you.

[ObserverJC]

The LA Times article pretty much points out the problem with current Californian economy. Instead of spreading across the state, economic opportunities are mostly concentrated in metropolitan areas like San Francisco or Los Angeles. As a result people living outside of these areas have difficulties benefiting from the economic fruits while those living inside have to deal with problems associated with over-concentrated wealth like rising housing price or homelessness.

[Mr5150]

Originally Posted by ObserverJC

The LA Times article pretty much points out the problem with current Californian economy. Instead of spreading across the state, economic opportunities are mostly concentrated in metropolitan areas like San Francisco or Los Angeles. As a result people living outside of these areas have difficulties benefiting from the economic fruits while those living inside have to deal with problems associated with over-concentrated wealth like rising housing price or homelessness.

You don’t appear to have a good grasp of geography. San Francisco comprises 49 square miles. It does not include Silicon Valley or other prosperous areas of the Bay Area like the east bay, San Jose or Marin County. You might not know that Apple and Google are Not located in San Francisco. We won’t mention, Sacramento, the central coast, SLO or SantaBarbara. I could go on. Even my hick town in eastern CA is doing well.

It still amazes me how some people feel the need to paint CA as poop hole in all aspects

Side note: the article kept referencing the Inland Empire. The IE is comprised of a few counties just east of LA.