With no letup in home prices, the California exodus surges
The median sale price for a home in California is more than double that in the rest of the nation
Say goodbye to Hollywood, Billy Joel sang in 1976.
Now, in the midst of a deepening housing crisis, thousands of people are following that advice.
Over a million more people moved out of California from 2006 to 2016 than moved in, according to a new report, due mainly to the high cost of housing that hits lower-income people the hardest.
“A strong economy can also be dysfunctional,” noted the report, a project of Next 10 and Beacon Economics. Housing costs are much higher in California than in other states, yet wages for workers in the lower income brackets aren’t. And the state attracts more highly-educated high-earners who can afford pricey homes.
There are many reasons for the housing crunch, but the lack of new construction may be the most significant. According to the report, from 2008 to 2017, an average of 24.7 new housing permits were filed for every 100 new residents in California. That’s well below the national average of 43.1 permits per 100 people.
If this trend persists, the researchers argued, analysts forecast the state will be about 3 million homes short by 2025.
https://www.marketwatch.com/story/w...rices-the-california-exodus-surges-2018-05-03
WEll, there you have the leftist paradise where everyone is leaving. Besides the prices you should see what the taxes are.
Then you have all the illegals sponging all the money that isn't stolen by the brass dry. Sounds like Illinois.
Where everyone is leaving.
Hello, exodus deniers: No, it isn't Illinois' weather
Corruption at the top tears and disfigures the “fabric of Illinois” and is “not easily or quickly repaired,” Zagel said.
Trust in government is essential to civil society — not only governance that is corruption-free but also competent and responsible. Unfortunately, much of our leadership in this state is neither. Taxpayers know it and they’re giving up. They are fleeing Illinois.
It’s one thing to harbor natural skepticism toward government. It’s quite another to take the dramatic step of moving your family, your home, your livelihood to another state to escape it. But it’s happening.
The naysayers and deniers blame the weather. They eye-roll the U-Haul rebellion. They downplay the dysfunction. Good riddance to those stingy taxpayers, they trumpet.
But that is a shallow, ignorant and elitist viewpoint
Hello, exodus deniers: No, it isn't Illinois' weather - Chicago Tribune
The median sale price for a home in California is more than double that in the rest of the nation
Say goodbye to Hollywood, Billy Joel sang in 1976.
Now, in the midst of a deepening housing crisis, thousands of people are following that advice.
Over a million more people moved out of California from 2006 to 2016 than moved in, according to a new report, due mainly to the high cost of housing that hits lower-income people the hardest.
“A strong economy can also be dysfunctional,” noted the report, a project of Next 10 and Beacon Economics. Housing costs are much higher in California than in other states, yet wages for workers in the lower income brackets aren’t. And the state attracts more highly-educated high-earners who can afford pricey homes.
There are many reasons for the housing crunch, but the lack of new construction may be the most significant. According to the report, from 2008 to 2017, an average of 24.7 new housing permits were filed for every 100 new residents in California. That’s well below the national average of 43.1 permits per 100 people.
If this trend persists, the researchers argued, analysts forecast the state will be about 3 million homes short by 2025.
https://www.marketwatch.com/story/w...rices-the-california-exodus-surges-2018-05-03
WEll, there you have the leftist paradise where everyone is leaving. Besides the prices you should see what the taxes are.
Then you have all the illegals sponging all the money that isn't stolen by the brass dry. Sounds like Illinois.
Where everyone is leaving.
Hello, exodus deniers: No, it isn't Illinois' weather
Corruption at the top tears and disfigures the “fabric of Illinois” and is “not easily or quickly repaired,” Zagel said.
Trust in government is essential to civil society — not only governance that is corruption-free but also competent and responsible. Unfortunately, much of our leadership in this state is neither. Taxpayers know it and they’re giving up. They are fleeing Illinois.
It’s one thing to harbor natural skepticism toward government. It’s quite another to take the dramatic step of moving your family, your home, your livelihood to another state to escape it. But it’s happening.
The naysayers and deniers blame the weather. They eye-roll the U-Haul rebellion. They downplay the dysfunction. Good riddance to those stingy taxpayers, they trumpet.
But that is a shallow, ignorant and elitist viewpoint
Hello, exodus deniers: No, it isn't Illinois' weather - Chicago Tribune
