I grew up on the East Coast. To me and other young guys like me, California was the promised land – warm weather, bikini girls at the beach, great career opportunities. Go West Young Man was the calling card at the time. So I came West and stayed.
Times have changed – a lot. The US Census Bureau says that California’s high home prices and cost of living is forcing people out, especially to Texas and other Western States. Since 2007, we have the largest net loss of workers than any other state. We have more than half of the most expensive residential areas in the country. If someone is earning less than $50,000 annually it is almost impossible to afford a nice home in a nice residential area. 75% of our “outflow” are people in this economic strata, who are now leaving California for the same opportunity I was seeking so many years ago. More affordable housing and in some cases, more job opportunity, lie elsewhere.
Make a new friend in your area who is from California. If you have a house to sell, offer to carry the note. Tell him you learned this stuff from a guy in California.
What goes around comes around!
