California Exodus How the Lone Star State’s Housing Market Feels the Pinch
Shared By Peter Boykin – American Political Commentator / Citizen Journalist / Political Candidate
California Exodus How the Lone Star State’s Housing Market Feels the Pinch
California Exodus How the Lone Star State’s Housing Market Feels the Pinch
The Lone Star State, renowned for its affordable housing, is feeling the strain of soaring property prices, courtesy of an influx of residents from pricier states, notably California.
In 2021 alone, a staggering 111,000 individuals migrated from the Golden State to Texas.
Let’s crunch the numbers: As per the Dallas Federal Reserve, housing affordability in major Texan cities took a nosedive between October 2020 and April 2023:
– San Antonio witnessed a drop from 66% to 40% in affordability.
– Austin saw a decline from 69% to 37%.
– Dallas experienced a significant dip from 62% to 28%.
Taking a step back: From 2000 to 2022, Texas welcomed a whopping 9,085,073 new residents, outshining every other state in the nation.
On the bright side, Texas still maintains its cost advantage over many regions in the country. As of last month, the median home price stood at $379,900, a far cry from California’s hefty $760,000.
[Source: WSJ]
This Article is Brought to you by Go Right News and Edited by Peter Boykin
Visit GoRightNews.com for More Articles and Visit PeterBoykin.com to Learn more about Peter Boykin
