Opinion: High living costs solidify California’s two-tier economy
Why California is what it is – a state with an immense economy but equally immense socioeconomic divisions – is the topic of perpetual academic, media and political debates.
Gov. Gavin Newsom’s crusade against gasoline refiners, accusing them of price-gouging, exploits that angst by virtue signaling to his constituents that he’s sympathetic to pain in their wallets. However, the state’s high fuel prices are just a tiny fragment of the state’s high cost of living and its corrosive effects.
Its high cost of living is the single most important reason why California, despite its world class economy, has the nation’s highest rate of functional poverty, as measured by the U.S. Census Bureau. Its supplemental poverty index is weighted for the cost of living and California’s high costs, especially for housing, drive the state’s ranking.
High living costs, again particularly for housing, are also a major factor in California’s outflow of population to other states and thus its recent loss of population.
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