California’s drought has been extreme for long enough that many know about it, and are now trying to make accommodations. Unfortunately, the impacts aren’t uniform; so, some neighborhoods are already witnessing the impact. As if the housing crisis hadn’t been bad enough, at least it was recovering. Now, however, as some neighborhoods dry up, the housing values plummet. While there’s always value in the land and the structures, a house without water can’t be a home. People have to move. If this continues, California can experience any housing crisis, which then will affect jobs, taxes, and – if it causes enough migration – voting power. Anecdotes of 25% drops are already circulating, though the effect will be most noticeable when it shows up in larger data samples.
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