[quote=flyer]There are definitely young people everywhere, and we often wonder where they are all going to work and live–especially if they want to stay in San Diego.

Many articles have revealed that most younger people (especially those raised in CA) will have a very difficult time continuing to live at the level of life their parents provided if and when they leave the nest.

Many, including our kids, have done just fine making the transition (without spending thousands on rent) so there is hope, but we’ve seen an even greater number who have not. It will be interesting to see how all of this develops over time.[/quote]

I think for places like California and NYC the affect will be similar to Japan and Korea where housing has been increasing while wages continue to remain stagnant or decrease. In Japan and Korea, people live with their parents until early to mid 30’s until they can save enough to purchase a home. This will lead to less children/family and a declining aging population. If this happens there will be a plethora of problems, but the housing market should correct itself…think Detroit.