Demographer Joel Kotkin has been one of the foremost chroniclers of California’s march to a decidedly different drummer. Writing in The Orange County Register, he observes that those most affected by high housing costs are the young and those of family-forming age. That’s who is leaving.
What he doesn’t examine in detail is why older Californians are more satisfied. A major reason is Proposition 13, which keeps property taxes low for people who acquired their homes a couple of decades ago.
In an otherwise high tax environment, low property taxes on property bought cheaply but now valued at a million or two are a big help. This leg up is available mostly to seniors who bought 20-30 years ago.
As a CA native, I know firsthand coastal California has the nation’s best year-round climate. Other places warm in winter - FL, TX, AZ - can’t compare. Their summers either have high humidity or get too hot.
Perhaps eventually the pleasant parts of the Golden State will be residence mostly to affluent retirees often in gated communities. They won’t worry about terrible public schools or Sacramento’s reflexive virtue signaling. Plus the high taxes will "keep out the less affluent."
Imagine Matt Damon’s prophetic Elysium minus the zoomy space station. Along the coast between San Diego and San Francisco, this odd duality is evolving as we watch.
