"California, including the Bay, has bounced back since the tech bust and continues to grow faster than the U.S. overall. This faster growth has occurred despite claims that the state has lost its competitive edge due to high business costs. Yet even as recovery has been achieved, an old issue has emerged as a substantial threat – housing. As far as real estate bubbles go, this past cycle has no precedent even in California’s turbulent housing history." Source: UCLA School of Public Affairs. California Policy Options.
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