More People Leaving California Than Moving In

W

WhatInThe

SF VIP
California starting to experience an outflow of residences leaving the state. Housing prices and taxes cited as some of the major reasons people are leaving. Tech boom has affected the housing market in many areas as well. Through June 61,000 more people left than came in. Highest since 2011.

http://www.mercurynews.com/business/ci_30037774/

Declining middle class in the bay area cited as an issue also.
 

WhatInThe said:
California starting to experience an outflow of residences leaving the state. Housing prices and taxes cited as some of the major reasons people are leaving. Tech boom has affected the housing market in many areas as well. Through June 61,000 more people left than came in. Highest since 2011.

http://www.mercurynews.com/business/ci_30037774/

Declining middle class in the bay area cited as an issue also.
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Not gonna bother me, maybe take some friends with them too. When demand for housing drops, so too will prices. Too many people=too high cost of living.
 
tnthomas said:
Not gonna bother me, maybe take some friends with them too. When demand for housing drops, so too will prices. Too many people=too high cost of living.
Click to expand...

For now the demand has exceeded supply. The problem is if near a bubble area many neighborhoods and towns are never the same mostly due to over building. The landscape is literally changed. Also many speculators come right back buying real estate in bulk hoping to capitalize on a recovery. That being said buy at the time there are bargains to be had-I know people caught in a tourist area bubble they broke even on a condo sale but bought another 1/8 of what they were during the boom. 400K condo for 50K.
 

If you don't get buried in a mud slide, or an earthquake or cooked in a wildfire, then you can retire to Arizona. Thousands already have.
 
Right now CA is in a huge drought. So many places are on fire or will be if this continues. If I was living there, I'd move.
 

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