There is a migration pattern in the U.S. -- People are leaving West Coast cities in California and moving to the South, especially to Texas and Florida. California tends to be a much more progressive Left-leaning state, politically, whereas the South is more conservative and is more Right-leaning. Does this large movement of people away from West Coast cities in California show something about the Left's policies? Single HENRYs are fleeing West Coast cities like San Francisco and Los Angeles for the Sunbelt ("HENRY" stands for "High Earners, Not Rich Yet".) A disproportionate share of these movers are high-income and unmarried, the report found. Among nearly all of the 26 metro areas analyzed, at least 90% of moves in were single-person households. Among those moving from the West to the South, over 40% had income above $125,000. Between April 2020 and July 2023, the South's population increased by 3.9 million people, Census Bureau data shows. Cities in Florida and Georgia, and Texas cities like Austin and San Antonio, among many others, have seen big spikes in population. This has been primarily driven by domestic migration, with a smaller boost from international migration. The West is seeing its share of the US population decline for the first time since the 1940s. The West has seen a decline in domestic migration but increases in international migration. Housing costs are a major reason people are leaving West Coast cities for the Sunbelt. The median price of a home in San Francisco is $1.2 million, while the median price in Phoenix is $445,000 and $416,000 in Tampa. Single HENRYs are fleeing West Coast cities like San Francisco and Los Angeles for the Sunbelt, study finds , Eliza Relman, Noah Sheidlower, Feb 6, 2024 related threads: Illinois breaks record for population loss, outmigration in 2021 people are leaving the Northeast (in Econimics & Trade, Apr 4, 2021) Population pouring out of New York, replaced by foreign immigrants (Nov 29, 2023)
Looking at the house prices you can see the issue. Californian's obviously have a heap more cash. The question is why? Are they more capable and industrious? Or are they able to play the financial game better? The richer are getting richer and the poor are getting poorer partially because of the ability for the rich to master the mind-boggling financial investment area better.
It's not necessarily just an issue of cash. Housing shortages tend to push prices up. So we can also ask why does California have such acute housing shortages? Part of the reason is no doubt the huge amount of foreign immigration that has come into California between around 1988 to 2018. When population increases by 38.6% in a relatively short time span of 30 years, it tends to put strain on the housing supply. But part of it also has to do with geography, due to the unique geography and climate factors, California simply has less "room", with most of the state's population being squeezed into a small area (something I've discussed more in other threads). And yes, California did have more money than Texas or Florida 30 or 40 years ago. That would be a long discussion all the reasons why that is, but we can point out that California did not have a clearly Left-leaning progressive government 30 or 40 years ago. Remember, California was the home of Republican governor Reagan in 1967 and 1971.
Which demographic is actually moving?? The Tec companies?? The Motion picture industry?? The homeless?? The transient?? Not everything is politics. Climate change is affecting the coast significantly. California , like many places are not the great places to live anymore. The reasons vary.
average income San Diego (in California) 38,503 average income Tampa (in Florida) 30,675 (both for year 2020) median household income Los Angeles county 76,367 median household income Miami-Dade county 57,815 median household income Beverly Hills 103,944 median household income Palm Beach 168,787 median household income Sacramento 71,074 median household income Orlando 58,968 It seems California does have significantly more money, but not extremely hugely so.
I guess the housing crisis must be pretty bad if people are leaving a higher income state to go to a lower income state. Especially since a large number of the people moving are higher income persons.
