Real Estate Moving
Did you know that a report from the California Legislative Analyst’s Office, showed that between 2007 and 2016, more than a million people left California rather than moving here from other states.
Although California has had net out-migration among most demographic groups, it has gained among those with higher incomes ($110,000 per year or more) and higher levels of education (graduate degrees).
Real Estate Moving
According to the study, here are the main reasons people are moving out of California.
- High taxes
- Cost of living
- Affordable housing
Affordable housing seems to be key. Every year, California falls about 100,000 units short of keeping up with demand. Another study found that one-third of metro area renters can’t afford the rent.
Get this . . . more than 800,000 Californians have moved to Texas in the last decade.
Where are these Californians moving to?:
- Texas
- Arizona
- Nevada
- Oregon
- Washington
Moving to those states, Californians will likely find paying no corporate or state income tax and affordable housing.
It’s a decision that all Californians will have to seriously weigh, and they are. According to a survey released just last month by Edelman Intelligence, at least 53 percent of Californians said they have considered moving out of state because of the cost of living. And a whopping 63 percent of millennials said the same.
