As of the 2023-24 academic year, the University of California faces $9.1 billion in deferred maintenance, while California State University faces $8.3 billion. In today’s episode, Chuck and Abby explore how this problem arose, how it mirrors the challenges cities are facing, and what it'll take to manage this decline.

“Inside a $17 billion maintenance backlog plaguing California’s universities” by Victoria Mejicanos, Matthew Reagan and Mercy Sosa, CalMatters (April 2025).

Learn more about the Growth Ponzi Scheme and how to evaluate your own city’s financial position.

Abby Newsham (X/Twitter).

Chuck Marohn (Substack)

Theme Music by Kemet the Phantom.