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The startup ecosystem & consumer property are driven by 0% interest rates; the investment property economy is driven by 0% interest rates & overseas money laund
by h4nkoslo 10y ago
The startup ecosystem & consumer property are driven by 0% interest rates; the investment property economy is driven by 0% interest rates & overseas money laundering. Agriculture relies on illegally imported labor & perpetual groundwater reserves.
All of these things add up to a "thriving" economy, but none of these things are perpetuities, especially when the state government is determined to Venezuelify at all costs.
- digitaltrees 10y agoFalse. If that were true, that interest rates were the only driver of this real estate increase, we should expect similar increases in other areas. Texas, Florida, and countless other states have had more inward migration with no increase. The guest worker program for migrant farm labor is not illegal neither is NAFTAs integrated North American market. Finally California has depended on agriculture for a long time, well before the current drought.