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Is the California Dream a Mirage?
California eclipsed Japan in 2024 to become the fourth-largest economy in the world. Gov. Gavin Newsom announced earlier this month that the state’s population increased for the second year in a row. Tourism has hit record levels, as Los Angeles prepares to step onto the world stage as the host of the 2028 Summer Olympics.
But for all of that, there are rising signs that California is entering one of the most difficult periods in its history. The state is confronting what many...