California Squashes Its Young

1

California’s housing policies pose a profound long-term threat to the state’s social stability and economic viability. The state has seen a net loss of about 1.7 million domestic migrants since 2000. After slowing during the Great Recession and its aftermath, out-migration is again growing, even in the booming Bay Area. Some 29,000 more people left the Bay Area than arrived in 2016. The San Francisco metropolitan area saw net migration plunge from plus-15,000 in 2013 to minus-12,000 three years later.

Contrary to some reports, the people leaving California are not predominantly poor and uneducated. IRS data show that California’s outmigration between 2013 and 2014 was concentrated among middle-aged people with higher average incomes than households that stayed in California or moved there. This trend contrasts dramatically with Texas, arguably the state’s strongest economic competitor.

3 Likes
2

The anti-growth nihilists are killing us all. But it will be us landlords who will get the blame. Expect more rent control crap shoveled up our behind…

3

I am seriously considering 1031ing out of my Oakland 4plex and into something back in the Fab 7x7 or down in the peninsula. I may have caught some good luck as potentially both of my Sec 8 tenants may be leaving (either negotiation or voluntarily) soon. Now, can I find something that has potential though and that wifey wouldn’t mind living in for a few years?

4

Get out while you still can.

1 Like
5

I would definitely want to know what %age were homeowners vs. not. Huge difference if people cashed in on the RE rise and retired to Montana vs. whether people moved because the housing prices were too high.

1 Like
6

Its lotto time for boomers. .Sell your house for $1-3m and you can retire in anywhere USA. .But I made my bet years ago…Most will stay. .But a lot will go to the Sacramento MSA, including Tahoe…

1 Like
7

I am pretty bullish on the 99 corridor. Stockton, Sac, maybe even Fresno will do well.

8

Sac is not inside the master plan. The best bet is Merced.

9

I have invested in Sac, Stockton and Modesto. …Sacramento is a bigger better market…Has its own economic engine. .Liberal taxing machine…Jerry Brown’s boondoggle. …Don’t bet against the machine…Plus BA retired people like the eastern suburbs. …Granite Bay, El Dorado hills, Lincoln, all the way to Tahoe

10

Come on guys! Stop bsing!

Just get the hell out of here! You hate liberals, still you deal and wheel with them if they give you a nice deal, right? What are you waiting? :sweat_smile:

At least we know one that left, but still stuck to one of his favorite forum. Right M?

11

Liberal areas are where the money and excitement is.

12

Go there to make money, retire in conservative states.

1 Like
13

Well, Austin is an ultra liberal town in a state that’s going minority majority. Texas lags California by 20 or 30 years. It will turn blue in the not too distant future.

1 Like