It’s no wonder younger Californians are leaving. I see what I used to consider entry level housing hitting 800 grand. Tech whiz kids who can now work from home are fleeing LA and 800 grand looks cheap. A lot of the kids that grew up here can no longer afford here. Of course people hitting retirement are selling into the bubble and taking their money and running to less expensive states. Most 60 year olds could use a million bucks moving into the “golden years.”
But the homeless population in the state is definitely on the rise. Up over 16% since 2007. Up 7% last year alone. Not good. It’s not sustainable IMHO. When shitty 50 year old tract houses 7 miles off the coast are going for close to a million, who lives here anymore? Millionaires (“ “) and homeless people? It’s not sustainable. People with ordinary jobs can’t afford to live here anymore. I know of a number of business that can’t get anyone to work. Tough to get people to work when six figures isn’t a living wage. Bubble gonna pop sometime. Meanwhile prices on just about everything are quietly sneaking up.
But the homeless population in the state is definitely on the rise. Up over 16% since 2007. Up 7% last year alone. Not good. It’s not sustainable IMHO. When shitty 50 year old tract houses 7 miles off the coast are going for close to a million, who lives here anymore? Millionaires (“ “) and homeless people? It’s not sustainable. People with ordinary jobs can’t afford to live here anymore. I know of a number of business that can’t get anyone to work. Tough to get people to work when six figures isn’t a living wage. Bubble gonna pop sometime. Meanwhile prices on just about everything are quietly sneaking up.
U.S. Inflation Is Highest in 13 Years as Prices Surge 5%
Consumer prices continued to rise rapidly in May as the economic recovery picked up, reflecting a surge in demand along with shortages of labor and materials.
www.wsj.com