Thursday, August 19, 2010

California Descending

Wow - it's been a while. Talk about life getting a hold of you.

Anyway, I'm back with a personal anecdote I think kind of sums up the Golden State at the moment.

My wife and I have an apartment that we rent out. It's in a nice part of So Cal, by the beach, in an area that's always been know as a fun place to live. We've rented it 4 times over the last 10 years - the last time being 6 years ago. We've always had great tenants and we've always had a choice of great tenants. But it's empty right now and we've been showing it and things have changed. Far from the young people starting out in life that our place tended to attract, we're getting a lot of single moms and people in mid-life looking for someplace they can start over or get things back on track. What's more - we're getting a LOT of people with the, "so my credit is pretty good, but..." What's most distressing is that while we're getting those people, the young people, just starting out in life are not showing up at all. That doesn't bode particularly well for California.