I'm not sure that shit-disturbing is an admirable trait, Jeremy.
Most of us Californians (either current or past) are used to this drivel. There are always horror stories about how the state has lost its luster, or that its going to go bankrupt (well, that may be true ), or fall into the Pacific Ocean. The truth of the matter is that it has a volatile economy, and when things are good, they're real good. When they're bad, they're real bad.
It's also a bellweather. When California real estate (in the coastal cities, not the inland areas like Stockton) starts to recover, you'll know we're on our way out of the housing recession. Just my opinion.