A jump of one full percentage point in one month is huge. Investors and potential homebuyers waiting on the sidelines to buy at the bottom would do well to consider other states.
CA now has a rapidly deteriorating private economy combined with a fiscal crisis that shows every sign of climaxing soon with some combination of tax hikes and service cutbacks. Our anti-business, soak-the-rich Democrat-controlled legislature will succeed in driving entrepreneurs and the middle class to friendlier climes.
For real estate investors, demographic trends should be uppermost on their minds. We continue to lose our most productive citizens, and attract the least productive. I’d invest in any other state west of the Mississippi before I’d chose CA.
