The greatest wealth migration we have seen in over fifty years is now occurring.
Let's rewind to December 2008 when the recession was officially announced. Over the next five years, we experienced significant job loss, primarily in middle management. These layoffs were different because it was not just that the individuals job was lost, as a result of technological innovation, in many cases it was that the job no longer existed. It was automated.
Locally, in the Bay Area, we saw a tremendous number of startups, not only founded by the previously unemployed, but also by fresh college graduates.
Technological innovation that resulted in automating manual tasks...(read more)
Are you experiencing this in your markets?
Good read @Account Closed , thanks for the link. I noticed the state I live in, Massachusetts was red on the map. I believe it because of the higher cost of living and taxes.
biased nonsense. You can pull a few stats out of your *** and make a case for almost any position.
CA has lower unemployment than national average. Sure the Bay Area and So Cal are quickly back and doing well, that is obvious. BUT central CA like the Inland Empire is also on an upswing in jobs. There is already a ton of money and investments in CA as a whole, most areas have little/no new home growth, so expect prices to continue going up.
I bet future home appreciation in CA overall will be better than most (if not all) other states. Same as it ever was....
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