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Story summary
- Chef Alex Carballo reports happy-hour sales now account for nearly 30% of his restaurant revenue.
- Customers visit his restaurants once a week, down from three-to-five times previously.
- Happy-hour share rose from an estimated 5%-8% to nearly 30% of business.
- California price levels are about 11% above the national average, according to 2024 BEA data.
- Only 19% of California households could afford the median-priced home of $916,750 in Q2 2026.