Dr. Housing Bubble 11/22/14

[Crewleader]

The middle class migration out of California:
While domestic migration is up, foreign migration is filling the gap.

People look at population growth in California and see nothing that stands out. Digging into the numbers you find some interesting figures. First, the main reason California is actually growing is because of international migration. California for well over a decade is losing domestic residents. That is, “domestic” Californians on a net basis are heading out of the state. On a more micro level, you are seeing the middle class either being phased out of the state or being pushed into lower priced inland regions. It is an interesting trend that is also happening in the tech hungry Bay Area. Housing continues to be an important topic because the vast majority of income is spent on housing. California has one of the highest percentage of families spending half or more of their monthly income on either rent or housing payments. In places like Los Angeles the main international migration is coming from Asia. You also see this driving up real estate values in certain areas and this contributes to domestic out migration. The migration numbers are interesting and shed light on this global trend.


California is a dramatically changing place

http://www.doctorhousingbubble.com/california-domestic-migration-international-migration-net-middle-class/

[RobertEarl]

1. So I sell a house in Cali

Which had an inflated value of 20 times what I paid for it, and I take the newly created bank money to Colorado and buy a cheap house; that's what keeps the economy growing? Bubbling, even?

[Crewleader]

2. Crazy isn't it RobertEarl

the times we're in.

[RobertEarl]

3. It's a legal scam

I admit I played on that field for a bit. Two bits, even.

Capitalizing on capital, especially newly minted capital that is bubbled up capital, is what makes this economy so capitol. Is there another way in which we could all be so richly bubbly? I think not.

[flamingdem]

4. If you're not in the game already in Los Angeles or SF

you'll live in a shoebox and spend quite a bit for the priviledge.

Plus you'll be looked down on by those who knew to play the game when it was doable.

[Crewleader]

5. I sure do feel for my California friends...

and you truly tell it like it is flamingdem. Very nice to meet you.

[flamingdem]

6. Reporting from my shoebox!

Nice to meet you too on a favorite topic, it really is the talk of the town how most of us are stuck where we are since the same apt. would be 1,000 more if we moved!

[Crewleader]

7. Keep intouch flamingdem

and I'll keep posting our favorite topic. Take care my new California friend.