Posted on 06/21/2011 4:01:33 PM PDT by NoLibZone
Fewer jobs and high housing prices have forced residents to move from California to cheaper states.
Roughly 870,550 people moved out of the state from 2005 to 2009, according to the Orange County Register, citing figures from a recent Chapman University
Follow this company study.
“The primary reason they left is jobs,” Chapman University economist Esmael Adibi said. “But the second reason was housing prices.”
Arizona was the first choice for relocation, with 177,000 relocated, while Texas was second with 171,228 and Oregon was third with 107,448.
Looking forward, lackluster growth in job creation and a weak housing market will continue to damp economic recovery in Orange County and California in general, according to Adibi.
However, next year will bring gradual improvement and “continuing recovery,” said Chapman President Jim Doti and founder of the Chapman forecast.
Among the positive signs for the local economy is that rental vacancies have dropped 1.6 percent and show indications of dropping further, Doti said. That’s an important indicator that family formation is growing, a trend that will carry over into the housing and consumer markets, he said.
Meanwhile, Japan’s recovery from its earthquake and tsunami could benefit California by increasing demand for manufactured goods and food.
The report also found housing prices declined 4.3 percent during the first quarter, and will continue to decline 2.7 percent in 2011 and an additional 1.4 percent in 2012.
“Continued declines will increase the number of foreclosures and distressed properties, placing pressure on the banking and financial system,” the report said. “Even more damaging to the economy would be the negative wealth effect resulting from lower housing prices.”
The report also forecast that the total number of payroll jobs in Orange County will increase by about 20,000 in 2011 and 30,000 in 2012. This translates to growth rates of 1.5 percent in 2011 and 2.2 percent in 2012, roughly the same as California’s job growth projection.
Avoid the Lib Coast.
I would venture that the increase in foreclosures is more than a little responsible for an increase in rental occupancy. People have to live somewhere. Given the economic times I certainly would choose to rent now rather than buy. Let someone else deal with the ever increasing cost of maintenance, taxes and insurance. If it gets to be too much, just move somewhere else.
Damn, there goes the posters theory that they were leaving because of the queers, which probably did have a little impact, but there is more illegals moving in that real folk moving out.
IMHO, the rich Liberal “Elite” of the Democratic Peoples Republic of Kalifornia want to empty out all the pollution making, energy consuming, (i.e. productive) “bourgeoisie” and limit the population themselves, their men-at-arms, their servants, and the serfs who will exist, at a subsistence level, simply to serve them.
I’ve stuck it out for over two decades, but I’m making my plans to evacuate.
Come to Texas, we need lots of conservatives to offset the liberals who are descending like a plague on successful states.
When it happens, it will be Tennessee.
Eastern or Central time zone?
Sad news for Texas and Arizona. Unless those leaving are majority conservative. Libs never learn, they will keep voting for leftists until the same thing happens to Texas and Arizona.
I'm sure that changing demographics and the fact that parts of CA are starting to resemble Mexico has nothing to do with it.
You are right and these people are idiots. Rentals are up because people are losing their homes in droves. I’m eyeballing Idaho at this point...although, my California native wife would lIkely hate it :(
Arizona was the first choice for relocation, with 177,000 relocated, while Texas was second with 171,228 and Oregon was third with 107,448.Lack of jobs, declining pay, rising cost of living -- gosh, it's almost as if there's a large and growing pool of illegal alien labor flooding the state.
Central: Nashville
Yeah, I know, but I was raised there, and I can deal with it.
leaving this beautiful state and climate this year...just getting too expensive. the police are stopping people for driving 1 mi over the speed limit...turning into a police state. wish I could take the ocean with me.
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