A Net Loss of One Million in Past 10 Years
Texas is the Top Destination
Say goodbye to Hollywood, as Billy Joel sang in 1976. Now, in the midst of a deepening housing crisis, thousands of people, all around the Golden State, 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 state's infamously high housing costs, which hit lower-income people hardest. Realtor.com found that so-called outbound searches of real-estate listings in California's 16 top markets were more than double the rate of other areas — and growing. California saw the largest exodus of workers in accommodation, construction, manufacturing and retail industries. And where those refugees head may say a lot about why they're going. The top five destinations for California migrants between 2014 and 2016 were the relatively nearby, but generally less costly, states of Texas, Arizona, Nevada, Oregon and Washington.
- Market Watch, June 1, 2018