Is the air coming out of the charter school bubble?

Are parents tired of seeing their children attend faux schools in shopping malls or schools that open and close like day lilies?

California has been the Golden State for charter schools until now, but the fever is subsiding.

Maybe it was the impact of the scandals, the waste, fraud and abuse.

After a quarter century of steady expansion, the rate of growth for charter schools in California has slowed to a crawl over the past five years.

During the just completed school year, the number of charter schools grew by a mere 1.6 percent — from 1,254 schools in 2016-17 to 1,275 in 2017-18. That was even lower than last year’s 1.9 percent growth, which set a record for the lowest rate of growth in at least two decades.

These sluggish rates of growth, mirrored by similar slowdowns nationally, present a sharp contrast to the double-digit rates of expansion of charter schools for most years since California approved its charter law in 1992.

Far outpacing every other state, California charter schools now enroll over 630,000 students, or 1 in 10 of the state’s public school students. The slowdown in their growth could increase competition among parents and students to get into the most sought-after charter schools and in general limit the choices that they have beyond traditional public schools. It is also stirring concerns among charter school advocates that the slowdown may represent a permanent feature of the California education landscape, not just a temporary pause.

The slowdown is accelerating at precisely the time President Donald Trump and his Secretary of Education Betsy DeVos are trying to expand education options for parents and children, which includes more charter schools, as well as tax-payer subsidies for private school tuition.

What is happening in California is being watched closely by national charter school advocates. “California is a place where you see charter schools in a wide variety of urban communities as well as in rural areas,” said Todd Ziebarth, senior vice president of the National Alliance for Public Charter Schools. “We don’t see that in every state.” A slowdown in California, he said, will have “a big impact on the national numbers (of charter schools), and given its size and diversity it is the place to look for lessons for why it is happening and how to jumpstart growth in California and across the country.”

Maybe the time for “jumpstarting growth” was a quarter century ago. Maybe that time is gone. Maybe parents are sick and tired of seeing their local public schools taken over by corporate chains.

Maybe the Gold Rush has panned out.