I lived in Southern California in the early stages of the housing bubble. And while Orange County wasn't my cup of tea, I understood why people liked it (sort of). Nice weather, close to the beach, not too far from the mountains, etc. Fine, worth those big prices. The big mystery to me was the Inland Empire. It wasn't as expensive, but at that time it actually wasn't that much cheaper. I didn't get why people were paying "California prices" to essentially not live in "California." Of course it was California, but it wasn't nice weather, close to the beach California. It was hot and not close to the beach and not very near other amenities. I'm not questioning why people lived there, I'm questioning why it was so damn expensive. It really hasn't recovered
from the bust.
Of the 100 biggest cities in the U.S., San Bernardino, 60 miles east of Los Angeles, was ranked the second-poorest in the nation in the 2010 census, behind Detroit. Two years later it filed for bankruptcy. Last month the City Council approved a 77-page plan that it hopes will move the city toward solvency, in part by making residents pay higher taxes and fees while further cutting their services.
Prosperity awaits.
