People Are Leaving California Because It Has Become Unaffordable

For every home buyer coming into California, there are three Californians selling their homes and moving out of state, according to data analysis firm CoreLogic. “There is clearly a relationship between the migration patterns and home prices,” says Sam Khater, deputy chief economist at CoreLogic. “The middle and lower middle can no longer afford to live in California.” California’s housing market is one of the most expensive in the nation, with a median home price of $428,000, and incomes haven’t kept up with the home-price bonanza.

Read more