How California Became Insanely Expensive



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California’s economy is massive. If it was an independent nation it would be the fifth largest by GDP. In the Span of 150 years California went from a far flung Mexican territory with only 150,000 people, to arguably the most influential piece of land on the entire earth. Yet today it has the highest poverty rate when adjusted for cost of living, thousands of large companies are moving out, and for the first time in its history it lost population in 2020. How did California become so incredibly rich, just to become unaffordable for a vast majority of its population?

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Contents of this video
00:00 – California’s Economy
01:21 – California Exodus
04:20 – The Gold Rush
07:24 – How California Became Rich
12:26 – California’s Cost of Living
14:37 – Worsening Educational System
15:35 – Unemployment & Inequality
16:47 – Taxes & Business environment
18:03 – Business Exodus
19:29 – The Death of the California Dream

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Sources used

Not so golden after all by Larry N. Gerston

#CaliforniasEconomy #CaliforniaHistory #CaliforniaMidterms #Economics #CasualScholar