

The geography of recession  - cwan
http://www.economist.com/blogs/freeexchange/2009/12/the_geography_of_recession

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ggchappell
> The steep decline in home prices suddenly makes California, with its many
> natural amenities, an attractive bargain.

I've been waiting for months for someone to say this. A big drop in housing
prices is certainly bad for you if you want to sell, but it's very good for
you if you want to buy. Put that together with the fact that housing prices
have been ridiculously high in some areas of CA, and we see that now a lot of
people might have the opportunity to live "the American Dream" again.

Why all this has been consistently presented as terrible news is something
I've never understood.

