California Exodus Gets WORSE! Prepare for HOUSING CRASH (2022?)

Описание: The California Exodus continues. 1.1 Million have fled the state since 2017. A brutal California Housing Crash is up NEXT.

New data from the US Census Bureau suggests that the California Exodus is REAL. Over 1.1 Million people have fled the state from 2017-21. And even more could be leaving in 2022 based on real-time data from Redfin.

To go along with this massive outbound migration, California's economy is also hemorrhaging jobs. Employment across the state declined by over 900k since the pandemic started according to data from the Bureau of Labor Statistics. Many people and jobs are leaving because of the high cost of living, including sky-high home prices, rents, and gas prices.

That puts the California Housing Market in a precarious position. Home prices are at all-time highs, especially in Real Estate Markets like San Francisco and Los Angeles. But there could already be Housing Crash brewing in these markets.

The last two times California lost this many people, there was a Housing Crash. Prices in Los Angeles declined by nearly 25% from 1990-1996, to go along with nearly 15% crashes in San Diego and San Francisco. Fast forward to the mid-2000s and another brutal Economic and Housing Collapse hit California. Home values declined by 35-40% across Los Angeles, San Diego, and San Francisco from 2007-12.

Now all of these markets are facing another big crash as more and more people decide to leave the state. Real-time data from Redfin shows home buyers are looking to flee these areas at record highs. This means even more people could be leaving California in 2022.

But there is a silver lining: a Housing Crash could be exactly what California needs to stem the tide of people leaving and to restore the state. Just like it did in the early 90s and mid-00s, Housing Crash #3 would make California more accessible to people, causing fewer people to leave and more people to move in.

Image(s) and/or Footage used under license from Shutterstock.com. https://www.shutterstock.com/

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0:00 California Collapse is COMING!
1:31 1.1 Million People have Left (2017-2021)
2:28 Also Nearly 1 Million JOBS LOST
3:30 Why Is there a California Exodus?
4:05 Cost of Living is INSANE (Check Out SF / LA)
5:29 You're SCREWED: The Average CA Worker
6:52 Housing Crash #3 is Coming: ETA 2022
7:34 Housing Crashes #1 and 2: Early 90s and Mid-00s
8:44 The Volatile BEAST: 20-30% Declines Coming
9:34 Redfin: Homebuyers Fleeing LA & SF
10:52 The Silver Lining: California Will Rebound
12:14 The 12-Year Housing Crash Cycle in CA
14:20 One Caveat: The Politics (Gavin Newsom)

#CaliforniaExodus #CaliforniaHousingCrash #California