Bubble Exodus Or 'The Best Move I Ever Made'?
Several readers suggested a topic on the housing bubble exodus. "I would be interested to hear from people who left California for the midwest and if they are happy with the decision to move or plan to move back once prices improve."
Another added, "An overall topic of people who left CA and went somewhere else would be interesting. I left CA 6 months ago, now live in the Ozarks."
And another, "How about some discussion of the ideas where large businesses in places like LA are relocating and selling their buildings for housing. Also Magjic Mountain selling out to developers. If the businesses and entertainment places sell out to housing, at what point would people not have any work, places to go for entertainment, or afford all of the new available housing."
A business decision. "My brother moved his business from Anaheim to the midwest because of the cost of warehouse space. In Anaheim the warehouse rent was $7K/month, in the midwest he could buy a larger warehouse for $100K. Since his business is all mail-order and his employees were also willing to move, it was an easy decision despite his never living or working anywhere but the LA area."
One went to Georgia. "I moved from Mission Viejo California to Ringgold Georgia where the entire county has a population of 55,000. Best move I ever made!"
And Arizona, "Best move i ever made. Kingman AZ. No gang bangers, just a few meth labs."
Another asks for opinions, "I’m about to leave California for the midwest. I would be interested to hear from other people who have done the same."
The Salinas Californian. "A decade ago, Mark Scarr said, his moving company had 10 families coming into the Salinas area for every five going out. Now, the opposite is true, said Scarr."
"Average home prices are out of reach for 91 percent of the county's residents, according to a report released by a group that promotes fewer restrictions on growth. 'Young people that are wanting to find housing are finding it increasingly difficult,' said Tom Carvey."
"Scarr said his clients moving out of Salinas are mainly retirees whose home values have appreciated dramatically, so they can sell here and buy something nicer out of state. Jerry and Edrie Goldstein have their Maple Park home on the market and plan to move to Texas to live closer to their grandchildren. 'We are not fleeing, and we are not trying to cash out our home," said Jerry Goldstein."
"They are asking $1.175 million for their five-bedroom home after buying it in 1998 for about $370,000, Jerry Goldstein said. He said they added a second story to the house and a host of other improvements. Goldstein said they plan to move to a nice neighborhood in the Dallas area, where a house similar to their Salinas home would cost about 40 percent less."
"Compared with 2002, the county now has twice as many homes listed for sale. 'Salinas definitely has a lot more properties on the market,' said Jean Manner Schwimmer, a Realtor in Salinas."
"(Property manager) Jan Leasure said rental vacancy rates have also been high, from 5 to 7 percent, for the past five years. 'The rental market has been affected by the fact that there has been a mass exodus from the coast of California to the inland areas and other western states,' she said."