California is an extraordinarily high cost-of-living state. Whether it is the state's housing affordability crisis - California's median home value per square foot is, on average, 2.1 times higher than Arizona, Texas, Nevada, Oregon, and Washington's - California's very expensive energy costs - the state's residential electric price is about 1.5 times higher than the competing states - or the Golden State's oppressive tax burden - California ranks 6th, nationally, in state-local tax burdens - those living in California are hit with a variety of higher bills, which cuts into their bottom line.One could wish it wasn't the nicest place to live year-round in the continental U.S., cost of living aside.
Friday, February 26, 2016
Blue State Cost of Living Blues
Hoover Institution research fellow Carson Bruno follows trends in California, mostly unfortunate ones in recent years. See what he wrote a couple of weeks ago for RealClearMarkets about living costs there.