Why Californians Are Fleeing the State
More and more Californians are considering fleeing the Golden State, and this is not the result of recent wildfires or earthquakes. In fact, high costs of living and housing prices seem to be catalysts.
More and more Californians are considering fleeing the Golden State, and this is not the result of recent wildfires or earthquakes. In fact, high costs of living and housing prices seem to be catalysts driving Californians away, according to a recent survey conducted by Edelman Intelligence.
The online survey, conducted last month, found many Californians were contemplating leaving the nation’s most populous state, and millennials were among the most representative of this group.
The study found that 53% of those surveyed are considering fleeing the state, an increase over the 49% that the study found last year.
According to Edelman, 63% of millennials in the 2019 survey indicated they were considering moving from sunny California. The chief reason for dissatisfaction: housing.
More so, 60% of millennials surveyed cited housing cost and availability when asked in general what reasons would make them leave California. That was slightly higher than the general population (55%), although sentiment among renters topped the survey, with 65% citing housing factors as a reason to leave.
At the same time, Californians believe housing costs are four times more threatening to the state’s economy than high health costs.
The Edelman survey found 47% of Californians are considering moving out of the state in the next five years. Again, it found the rates among millennials were higher, with 55% of them contemplating the move. And 57% of Californians with kids under 18 also were considering packing up and leaving in the next five years.
Overall, the survey involved a total of 1,900 California residents.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
