Housing & Jobs Driving Californian's Out of State

It's now a four-year trend. More California residents moved out of state than moved in from other states.

LA Times – The outflow – last seen during the economic and social struggles of the 1990s – started when it became too expensive for most people to buy homes in the state, and has kept going throughout the bust with the loss of so many jobs.The trend underscores the state's sour economy as layoffs continue, the fiscal strain on government grows and home values continue to decline.

During the last fiscal year, 135,173 more people moved out of California than moved in from other states.

Texas is the big destination for California residents moving out of state. Utah is now leading the nation in population growth. Nevada and Arizona are still heavy contenders.

With holiday travel upon us, it's worth considering how far we might have to travel in the future to visit our children and grandchildren. Though real estate values are down, no one expects them to remain there for the next decade. Affordable housing will continue to be a challenge in California and the East Bay. 

With home values down, it's an excellent time, for those with the means, to consider buying an investment property that can serve as a future home for one's child.

Consider, what Brentwood or Antioch will look like in 5 to 10 years with one or two major transportation issues resolved. Brentwood could turn into a retirement mecca for the Bay Area. If that happens, there will be more and more jobs in health care, retail, entertainment, and recreation available.

San Ramon is also worth consideration. There are some great single family home values surfacing in San Ramon. 

Investing in East Bay real estate may be the best investment you'll ever make, especially if you want to keep the kids and grandkids close for the holidays.

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Contact Paul for information on Brentwood & Antioch 925-963-4246

Contact Craig for information on San Ramon 925-984-4910