Chronometer

Wednesday, March 29, 2017

CALIFORNIA'S HOUSING MARKET is a disaster for millenials:
California is one of the most unequal states in the country, and its housing market is similarly bifurcated, offering both multimillion dollar houses and rent-controlled apartments, but less and less of a foothold for people in the middle. This is a key reason so many working class families have left the Golden State in the past 25 years.

Homeownership is the backbone of American prosperity, forcing families to accumulate wealth and feel they have a stake in the system. California’s low ranking for young home buyers is not an encouraging sign for a state once thought to be a model for America’s future.
And again, anyone doing any California dreaming should forget about it.