We discuss a recent National Association of Counties report on county economies.
Since the early 2000s, median housing costs in California have increased faster than median incomes. During the last several years, though, the gap between these two has narrowed. This overall improvement is largely attributable to falling housing costs for homeowners, while the gap between renters' incomes and their housing costs continues to widen.
The 2007-2009 recession hit California very hard. Only recently—in mid 2014—did California return to the number of jobs it had before the recession.