This should not be a surprise that state revenue is falling since the Real Estate industry including the mortgage aspects as we all know are in severe straights.
But again we should realize that news such as this state revenue short fall probably means those proposed bond issues to deliver more water to southern California will never materialize.
And in my opinion the state and especially southern California has no issue as critical as the water problem which is developing.
This is far more than brown turf on golf courses. This is 23 million people looking down the barrel of severe drought if their is not significant snow on the Sierra's this winter.
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