If you live in a trendy or desirable neighborhood, you know the story: "I can't believe the Simpson place sold for $250,000! Of course, it was those transferees from California that bought it. Boy, did they get snookered!"
California has been suffering from a flight of productive citizens for years now as they tried to escape high prices, confiscatory taxes, and regulations that make the adjective "Byzantine" look completely inadequate. Unfortunately, rather than making them change currencies at the state border, we allowed them to spend their California Monopoly money and candy bar wrappers in the rest of the country as though it were real cash.
And make no mistake, Monopoly money is what it is. California has experienced Wiemar-like inflation, where grocery store cashiers make $12.50/hr, rookie police officers pull down $70k/yr, and the most depressing little 2br/1ba crackerbox costs a cool quarter mil. No wonder that they have a bizarre effect on local housing prices when they're allowed to show up in Des Moines and spend it as though it were real dollars.
Now that the goose that laid the golden eggs has flown the state to escape being eaten, the Cali .gov still has to pass out all the gold houses and rocket cars that it promised voters, and there just aren't the taxes to do it. What to do?
It's obvious! Beg Uncle Sucker for the money! If it works for the Masters of the Universe on Wall Street, it should work for the Governator, too. Just ask for Federal tax dollars from working mothers in Dubuque and Peoria, and that should prop up the decaying edifice of crazy social programs and no-connection-to-reality public servant salaries that are the rule on the Left Coast these days.