It Is High Time Steps Are Taken to Rebuild a California that Has Been Ravaged By Foreclosures

Posted on February 27, 2009
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It is high time that the administration and community sat up to the reality of rebuilding a California that has been ravaged by foreclosures. The lights in the corridors of the government were dim with the leaders attending the inauguration of President Barack Obama in Washington.  But now that the hype is over, the politicians of the Golden State have come back felling upbeat after being infused by the President’s energetic vibrations full of promises for a new era.

That is all very well but the local leaders must now do some positive thinking on their own. The economic climate in California is bleak in sharp contrast to hopes of Washington. There is no money in the state coffers. The government and legislature are far from agreeing about finding a solution to the $42 billion deficit in the budget.

The unemployment rate in Los Angeles County is swiftly reaching to touch 9%. Foreclosures continue unabated causing dramatic falls in price of houses.According to DataQuck the average price of residential houses and condos in southern California consisting of six counties have dropped from $425,000 to $278,00 in December 2008 from what it was twelve months ago. It calculates to a decline of 35%. The silver lining is that the price fall has resulted in sales picking up by 19% from November 2008. But most are confined to low cost repossessed homes.

California has become such a dreaded area that people are running away as if from a plague. The standard of life has been falling while the cost of living has been increasing. For the fourth consecutive year California is witnessing an outflow of legal residents going away to other states in search of greener pastures. California needs to be remade just as much as the entire country does.

On Wednesday 4th February 2009, Obama took some steps that appear like drops in the ocean. The pay of senior staff has been frozen and the rules relating to lobbyists in the government tightened. But however small, these measures sent out a firm message – from now on the politicians from Washington down to the small town and village must understand that they are “keepers of the public trust” and not the caretakers of the financial bigwigs. In other words the government must give priority to the needs of the people.

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