Hardly the case, all you have to look at are the median home prices in California, particularly in the metropolitain areas. Many native Californians decided to take the money and run when they saw the equity in their homes rise hundreds of thousands of dollars in the past few years. Unemployed mexicans can hardly afford $500,000.00+ homes. There are several factors involved here, but the exodus the article cites is merely attrition in the most populous state in the union.
I agree completely.
Furthermore, here in the Sacramento region, housing prices have risen dramatically in the last few years as people move from the LA or SF areas and come here buying for cash or with huge down payments.
My only concern is a crash, ala 1990 but I feel if it comes, it will be those two large population centers that will take the biggest hit.
Wishful thinking on my part perhaps.
Cheers,
knews hound
(ECV Chapter 3)
I read recently that home values in San Fran are rocketing down, and that the trend would pick up all over Cali.
You should see all the houses with "granny flats" being built in the garage or backyards.....that way you can fit two families or renter into the space of one!
>>>Hardly the case, all you have to look at are the median home prices in California
There were 4 million non-minority people who left Calif. last year. I moved from Calif., in June, along with 4-6 million other non minority people. 10 million people have left Calif. in two years. Sweden, has a population of less than 10 million. We are fleeing the disease. The disease has something to do with California being blue.