With tuition increases at the public universities UCs and CSUs, and increasing competition for Cal Grant funds, greek life in California is probably more affected at schools with chapter housing vs unhoused chapters. Houses=higher cost of membership. While it hasn't really shown up in Panhellenic quota because higher enrollment has increased interest in membership, I think the economic challenges do show up in the number of new members that actually initiate or drop out after initiation

. Parents who banked on using home equity to help pay for college expenses are re-thinking that plan, and it's really tough for college students in many areas of Calif to find part time work to help pay for "extras" like greek membership. Personally I know a lot of affluent families here who are really holding tight to their wallets because it's teachers, drs, dentists, attorneys and small business owners who have really felt the lagging economy over the past two years.
I think the fraternities have it a lot tougher than sororities for recruiting and retaining members in a down economy. Parents are pretty willing to find a way to to pay for their daughters to live in safe, clean and more attractive greek housing. For the guys it's a tougher sale that the typical fraternity house is a good place for students to live.