The New Corn Laws: Why Housing Costs Are So High
California is losing its native-born working and middle classes, with net positive domestic migration only among those earning over $90,000. Likewise, the only educational group with net domestic migration into California are Americans with graduate degrees. The biggest recipient state is Texas, followed by Arizona and Nevada — states with lower wages than California but even lower rents. When a state with high wages and a Mediterranean climate is losing its college-educated middle class to states with lower wages and miserable heat, something is profoundly wrong.