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As long as folks can "lock in" these low interest rates with "fixed rate" loans then there's no problem. At least not from the threat of rising interest rates.
The California exodus has shown no sign of slowing down as the state’s population dropped by more than 500,000 people between April 2020 and July 2022, with the number of residents leaving surpassing those moving in by nearly 700,000.
The rain that fell on California in recent weeks could have supplied the state’s water needs for 10 years — if it had been captured and stored. Unfortunately, most of the water is being left to drain to the Pacific Ocean.
California received some 32 trillion gallons of water in three weeks of “atmospheric river” storms across the state, according to Fox News. In 2014, the state used 42 million acre feet, or about 1.4 trillion gallons, annually, according to the Desert Sun, citing the U.S. Geological Survey (USGS). (A more recent figure from USGS suggests the state withdraws up to 28,800 gallons per day, or about 1 trillion per year, from the environment.)
Given that the state only taps half of its water supply for human uses, about 16 trillion gallons of the rain that fell on California in the last few weeks could theoretically be directed to human use — if it were stored. That means that enough rain fell to supply the state’s water needs for at least another decade — and maybe longer.
However, the state’s water storage capacity is only 43 million acre feet, matching about one year’s human use. Given that most reservoirs — even in the ongoing extreme drought — have some water in them, not all of the 43 million acre feet of storage space is available to capture the ongoing rains — and some dams’ floodgates have been opened. More than 95% of the rain that is falling on the state is simply being allowed to wash out to sea.
California is suffering from the major financial impact of people and businesses fleeing the Democrat-led state.
As the mass exodus to red states continues, California is now faced with a devastating budget crisis caused by the “severe revenue decline.”
Under Democrat Gov. Gavin Newsom’s watch, California now has a record $68 billion budget deficit.
Worryingly, Newsom believes that California should be a blueprint for how the rest of the country should be run.
The state’s budget deficit has grown exponentially in just a few months’ time, according to California’s non-partisan Legislative Analyst’s Office (LAO) report released Thursday.
The deficit has soared by more than $54 billion from just $14.3 billion in June.
And while the deficit isn’t the largest to ever face the state as a percentage of overall spending, it is the largest in terms of real dollars.
The LAO’s report made no mention of the billions in tax revenue lost by California due to the exodus of its people and businesses. ...
California saw its first-ever population decline in 2020 when the state imposed rigid lockdowns during the COVID-19 pandemic.
From January 2020 to July 2022, the state lost well over half a million people, with the number of residents leaving surpassing those moving in by almost 700,000.
Need new ratio numbers for CA workers vs takers.
The state’s budget deficit has grown exponentially in just a few months’ time, according to California’s non-partisan Legislative Analyst’s Office (LAO) report released Thursday.
The deficit has soared by more than $54 billion from just $14.3 billion in June.
California saw its first-ever population decline in 2020 when the state imposed rigid lockdowns during the COVID-19 pandemic.
https://babylonbee.com/cleanArticle/california-becomes-first-state-to-ban-heterosexual-marriage
http://www.doctorhousingbubble.com/expensive-homes-california-home-prices-up-low-interest-rates-2012/?utm_source=patrick.net
#housing