Tweet
More Californians are considering fleeing the state as they blame sky-high costs, survey finds
LOS ANGELES — A growing number of Californians are contemplating moving from the state — and not due to wildfires or earthquakes but the sky-high cost of living, according to a survey released Wednesday.
The online survey, conducted last month by Edelman Intelligence, found that 53 percent of Californians surveyed are considering fleeing, representing a jump over the 49 percent polled a year ago. The desire to exit the nation’s most populous state was highest among millennials, the survey noted.
“California is a great, great place if you’re young and ambitious and daddy’s paying the rent,” said Joel Kotkin, a presidential fellow in Urban Futures at Chapman University in Orange, California. “It’s similar to New York with the same dynamic, and maybe more of it.”
Kotkin, who has researched California demographic and economic trends for decades, said he’s astounded when he asks his Chapman students whether they think they’ll be in the state in 10 years. “I would say the majority would say ‘no,’ — and many grew up in California,” he said.
“There’s no doubt that California’s economy, for all of its strengths when it comes to innovation and creating these industries that people want to be part of, is struggling with high costs,” said Aaron Terrazas, a senior economist with online real estate site Zillow. “Costs have gotten way ahead of incomes in California, and that’s making a lot of people think about whether it’s worth the hurdles.”
https://www.cnbc.com/2019/02/12/grow...te-survey.html
LOS ANGELES — A growing number of Californians are contemplating moving from the state — and not due to wildfires or earthquakes but the sky-high cost of living, according to a survey released Wednesday.
The online survey, conducted last month by Edelman Intelligence, found that 53 percent of Californians surveyed are considering fleeing, representing a jump over the 49 percent polled a year ago. The desire to exit the nation’s most populous state was highest among millennials, the survey noted.
“California is a great, great place if you’re young and ambitious and daddy’s paying the rent,” said Joel Kotkin, a presidential fellow in Urban Futures at Chapman University in Orange, California. “It’s similar to New York with the same dynamic, and maybe more of it.”
Kotkin, who has researched California demographic and economic trends for decades, said he’s astounded when he asks his Chapman students whether they think they’ll be in the state in 10 years. “I would say the majority would say ‘no,’ — and many grew up in California,” he said.
“There’s no doubt that California’s economy, for all of its strengths when it comes to innovation and creating these industries that people want to be part of, is struggling with high costs,” said Aaron Terrazas, a senior economist with online real estate site Zillow. “Costs have gotten way ahead of incomes in California, and that’s making a lot of people think about whether it’s worth the hurdles.”
https://www.cnbc.com/2019/02/12/grow...te-survey.html
Comment