California boasts some of the highest wages and fastest rates of job growth in the nation but high housing costs are pushing many people out of the state, according to a trio of reports released Wednesday.
The reports from Beacon Economics in Los Angeles address “Employment by Income,” the “Current State of the California Housing Market” and “California Migration.”
Beacon notes that 625,000 more U.S. residents left California between 2007 and 2014 than moved into the state. The vast majority ended up in Texas, Oregon, Nevada, Arizona and Washington.
LOW AND MIDDLE-INCOME WORKERS ARE LEAVING
The search for more affordable housing is sending low and middle-income workers out of the state, while higher-wage workers continue to move in, which argues against the theory that high taxes are driving people away.
“California has an employment boom with a housing problem,” said Christopher Thornberg, a founding partner with Beacon. “The state continues to offer great employment opportunities for all kinds of workers, but housing affordability and supply represent a significant problem.”
Read the full article by Kevin Smith from the San Gabriel Valley Tribune HERE
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