In a Feb 18 article by CALmatters on the “California Dream”, Matt Levin observes that if you factor in cost-of-living, California has the highest poverty rate in the U.S. Stated another way, California is the poorest state in the country. Poorer than states like Louisiana or Mississippi. The article mostly blames the cost of housing. In 1969, the average California home price was 3X the average annual income of younger Californians; today, it’s 7X. At the same time, we have the wealthiest citizens, and some cities with the highest per capita income.
Back in 2005, I was trying to be funny. It’s not funny anymore.