California’s Exodus

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We’ve posted about this before…people are fleeing California in large numbers.  The reasons are numerous (high taxes, onerous regulations, lack of job growth, etc) but in this study’s case it’s the high cost of housing (especially in San Francisco, San Jose, Los Angeles and San Diego) that is being examined.  Along that vein, Trulia has this to say about the Golden State;  “you need a lot of gold to live there.”  However they also add (somewhat apologetically) that “Tales of an impending mass exodus from expensive California markets are unsubstantiated from Trulia’s search data since there doesn’t seem to a drop in inbound to outbound visits to properties in these metros.”  Indeed…

“It’s no wonder some Californians are packing their bags and moving elsewhere. Top destination markets for migrants from coastal California metros are to other large metros like New York, Atlanta and Chicago, but also include less expensive Sun Belt markets such as Las Vegas and Phoenix. Californians gravitated to the high job-growth centers of Seattle, Denver, Dallas and Portland, Ore.”

Click here to read the full report on Trulia.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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