if things proceed as planned, I think what will happen in CA is similar to what is happening at the national level, but even more intense…..
The middle class will erode away in CA and CA will consist of either people within the top 1% who can afford to live here without blinking, and the other extreme folks who can enjoy all the entitlement benefits without having to pay…
The middle class that doesn’t really do that well and yet need to pay for all these entitlement benefits will get the shaft and figure to go elsewhere.
But then again, IF we have a housing recovery, I think a lot of issues go away…One thing is once people start paying their property taxes again, at least at the local level, more dollars come in…
It will be interesting to see in the next couple of months what will happen.
