Go West Young Man
Going back to Cali.
This past weekend I attended a function where there were several former California natives who have been living in other states for many years. They all emigrated from California over the last 10 years as housing was becoming more unaffordable. Most of us have heard a similar phrase to this “once you leave California, you’ll never pay the price to move back” because the standard of living is much, much better in a vast majority of the United States.
It used to be relative:
Live in California, and pay more for housing, commuting, utilities, etc., but earn a greater income.
Live in California, and pay much more to upgrade homes, but have a ton of appreciation from your current home to put down on the new, larger, more expensive home.
Those days are gone…for now.
Live where you are happy
The strangest thing that I observed in listening to these “out-of-staters” was that most of them seemed apologetic, even guilty, that they left California. They moved for their careers, and to better raise their young families in a far more affordable environment. I can totally understand their logic for moving in the first place.
Why should they feel guilt?
I was quickly told that they miss the family that they have back in California, mainly their parents (their children’s grandparents). Most of them seem to travel back to California several times a year, but they would much prefer to see their families and friends as often as they like.
Well now they can.
California is on sale
California is on sale with most of the state offering 50% off! And we’re not talking last season’s clothing rack that is non-refundable and already out of fashion.
Home values have dropped in California to levels that just might allow a reversal in the amount of annual population that has been leaving the state for its neighbors (typically Arizona, Nevada, Oregon, and Washington). Property appreciation might not be a frenetic as it had been over the past four or five decades, but that doesn’t seem to be on these people’s minds.
They really miss the California weather, culture, beauty, and its endless variety of things to do.
I cannot disagree.
These people were not just telling me that they are thinking about moving back to California. They are taking action and shopping communities and homes.
They believe in the future of California. They believe that the National and State economies will improve over the long-term, and they believe that buying a home in California now is the best investment that they can make.
Again…I cannot disagree.
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