[quote=Coronita]
BTW, I don’t think this problem is just CA. It’s going to be a problem for multiple states… I see it a bigger problem for states and locales that that depend on a specific industry that was wiped out by covid, particularly a lopsided local economy completely dependent on indoor leisure activity….if not now, later.[/quote]
States and counties are always the last to feel the effects of an economic downturn. It’s usually about a year behind the general populace. I worked for a county related company back in the 2000 internet crash and they were fine up until mid 2001 and then things went south real fast.
This current situation might not feel that bad if you’re working from home in software or something but it’s going to get really bad soon. I’d be surprised if the market doesn’t take a 80% plunge in the next 2 years. Somebody is going to get in trouble with liquidity. Ie. commercial real estate or REITs.
