More People Are Leaving California for Affordable Homes Elsewhere, Study Finds
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
More People Are Leaving California for Affordable Homes Elsewhere, Study Finds
More People Are Leaving, California for Affordable, Homes Elsewhere, Study Finds.
According to a recent study from real estate
website Redfin, residents of California are
seeking more affordable housing in other states.
Fox News reports that the Redfin analysis shows
an influx of people moving to Las Vegas, Phoenix,
Tampa and Orlando to find more affordable options.
Fox News reports that the Redfin analysis shows
an influx of people moving to Las Vegas, Phoenix,
Tampa and Orlando to find more affordable options.
The typical Las Vegas home costs
less than half as much as one in
Los Angeles, San Francisco or
Seattle, the most common
origins for buyers moving in.
, Redfin analysis, via Fox News.
The typical Las Vegas home costs
less than half as much as one in
Los Angeles, San Francisco or
Seattle, the most common
origins for buyers moving in.
, Redfin analysis, via Fox News.
Phoenix and Tampa are the
next most popular destinations.
Along with Las Vegas, theyâre
increasingly prone to natural
disasters like heat and flooding,
but relatively affordable, Redfin analysis, via Fox News.
Phoenix and Tampa are the
next most popular destinations.
Along with Las Vegas, theyâre
increasingly prone to natural
disasters like heat and flooding,
but relatively affordable, Redfin analysis, via Fox News.
The same analysis found that San Francisco
and Los Angeles ranked in the top 3 cities with
the most people looking for out-of-state housing.
The same analysis found that San Francisco
and Los Angeles ranked in the top 3 cities with
the most people looking for out-of-state housing.
At $412,000, the median home in Las Vegas costs
less than a third of the median price in
San Francisco, which currently stands at $1,405,500.
At $412,000, the median home in Las Vegas costs
less than a third of the median price in
San Francisco, which currently stands at $1,405,500.
Fox News reports that the study was based on
two million Redfin users between April and June.
According to another online real estate website,
MyEListing.com, California lost over $340 million in IRS tax
revenue in 2021 as a result of residents leaving the state.
Despite its numerous attractions,
from the booming tech industry
and world-class universities to
beautiful landscapes and cultural
richness, California's high personal
income tax rates seem discouraging
for many high-wealth individuals.
, Redfin analysis, via Fox News.
Despite its numerous attractions,
from the booming tech industry
and world-class universities to
beautiful landscapes and cultural
richness, California's high personal
income tax rates seem discouraging
for many high-wealth individuals.
, Redfin analysis, via Fox News.
This, coupled with the state's
high cost of living, will likely fuel
a wealth migration out of California, Redfin analysis, via Fox News
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