Originally Posted By: Mr Nice
Originally Posted By: Pop_Rivit
California, New York, Illinois and New Jersey usually rank at the bottom of most
lists.
Originally Posted By: KingCake
Originally Posted By: Dyusik
I have no idea but that California is worst at everything.
California Is the World's Eighth Largest Economy. I think they have a biz or two.
Despite being named the worst state in which to do business by chiefexecutive.net every year for over a decade, unemployment that remains some of the highest in the nation, housing costs that are 157% higher than the national average, and an overall cost of living that is over 50% higher than the national average. All that with a median annual household income that is only $7,000/year more than the national median household income. California isn't exactly something to brag about.
That's why many rent a 1 bedroom apartment, they simply can't afford a house.
The two things that California has better than most states: weather and real estate appreciation.
Normally, we have more than 300-320 days a year with low above 50F high below 80F and less than 10 rainy days. So we can have top down cruising more than anywhere.
House is appreciated on average about 5-6% a year, after 12-15 years your house can be double what you paid. The equity is more than enough to paid for a good house a good neighborhood in almost any state.
Renting is fairly expensive in coastal area, a 1 bedroom apartment can be above $2k in a safe area. Some family rent a converted 2-car garage for more than $1k.