Quote:
Originally Posted by dimondpark
I wish this would be reflected in home prices and rental rates. Home prices are soaring in our urban counties even now, as people are supposedly fleeing.
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You’re talking apple and oranges. California could lose 500k people and it’s possible that we wouldn’t see a blip in the costs of home prices or rentals. After the ‘Great Recession’ new housing starts didn’t keep pace.
Secondly, people aren’t “supposedly fleeing”. Static’s show there are a lot of Californians migrating out of certain California population centers. Given the new remote work realities, it’s entirely possible we’ll see a lot more. It’s also possible there will be a migration moving into those population centers at some point, to take their place.
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According to the L.A. Times, San Diego County’s recent net population loss was under 1% —( 0.3%) — of its 3.28 million residents.
Los Angeles County lost nearly 160,000 people, a 1.6% decline. San Francisco shed 55,800 people, or 6.3%. Santa Clara County (encompasses Silicon Valley), lost 45,000 people, or 2.3%.
I won’t post everything from the article but here’s the link.
http://www.latimes.com/california/st...igh-costs-move