So there is a California housing decline story out there that is being used to say the Nation better watch out for a coming decline as well.  I'm not saying that things might, one day go downward because usually, things do come in cycles.  One thing mentioned in the story is the following:

The median price paid for all Southern California homes sold in June was a record $536,250, according to CoreLogic, a 7.3 percent increase compared with June 2017

At that price and with the ever-expanding illegal population as well as the ever-increasing differential in income levels in the state the middle class is if not has already disappeared.  I don't think applying many California statistics to the rest of the Nation is very credible these days.  In fact, with the cost of homes, in California, I'm not surprised at all in drops in sales.  Frankly, I don't know how most of the people living there can afford it as it is.  Maybe pay is far better there than other places?  Maybe people already had their homes and prices just increased afterward?  I can sure understand why folks there want the minimum wage to be $15.00 an hour.  The minimum wage needs to be $15 or more to be able to live there.

Be as the Bereans ( Acts 17:11 )

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The cost for housing (buying or renting) is extremely Expensive in most Calif. Cities where the Jobs are located. Trouble is, its not the only thing that's expensive in California.

Food in Los Angeles is significantly more expensive than the national average. A gallon of milk costs $3.81, and a loaf of bread costs $2.77. A dozen large eggs is$2.98 and 16 oz. of cheese is $5.25. For a pound of boneless, skinless chicken *******, the cost is $4.76.  Sep 14, 2017.

Here in Shoals:

Milk - $0.98/Gal - Walmart & Aldi- Diff. 2.83 x 52 wks.= $147.16 per year Increase for milk alone. (We get the picture for the remaining items)

Bread - $0.85/ Aldi

Lg. Eggs - $1.28/doz

Boneless Ck.Breast- Recently paid ~ $1.30/lb.

Cheese - Not sure if its Pasteurized Process Cheese Product or Real Hard Cheese they are using for pricing, but if Hard Cheese blocks - $3.70 lbs. Aldi - Still cheaper here than Calif.. 

Californians would need to make over $100,00/year to Scrape by. You may not qualify for a Mortgage with $100k earnings, purchasing $536,250.00 Home? May have to downgrade to $450,000 home.

The businesses and people who work hard and pay the high taxes that support the California welfare state are leaving, so the Realtors, house flippers, banks, and California politicians are about to see a redo of 2008. It remains to be seen whether or not Californian greed factors in a major national downturn as the get-rich-quick schemes of that state did in 2000's tech bust and the bust of 2008. I would be bailing on californicated Muni's if I owned them.

http://irle.berkeley.edu/files...-Great-Recession.pdf

http://www.calbizjournal.com/w...ssesleavecalifornia/

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