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First off, I know that California is beautiful with mountains, ocean, deserts, forests, a great climate, and a lot of culture. So in many ways, it is a very attractive place to live. However, given the cost of living there, specifically housing costs, I am not sure what keeps middle and upper middle class households there.
Last year, for the first time in the state's history, it lost population. I suspect it is because once people saw they could work remotely, they decided to live and work from somewhere that was much cheaper to live and work from.
For example, let's say you bought this home 15 years ago for $495k, today you can get $900k for it and pocket $500k or more in equity.
You could move to Saint Louis and buy this home for $229k, it's bigger, its in a hip neighborhood, and you would probably pocket $300k and have a house that was paid for, so what is keeping you in California? (you can find homes in similar price ranges in many cities all over the country)
Last year, for the first time in the state's history, it lost population. I suspect it is because once people saw they could work remotely, they decided to live and work from somewhere that was much cheaper to live and work from.
For example, let's say you bought this home 15 years ago for $495k, today you can get $900k for it and pocket $500k or more in equity.
744 Union St APT 6, San Francisco, CA 94133 | Zillow
744 Union St Apt 6, San Francisco CA, is a Apartment home.It contains 2 bedrooms and 1 bathroom. The Rent Zestimate for this Apartment is $3,495/mo, which has decreased by $639/mo in the last 30 days.
www.zillow.com
You could move to Saint Louis and buy this home for $229k, it's bigger, its in a hip neighborhood, and you would probably pocket $300k and have a house that was paid for, so what is keeping you in California? (you can find homes in similar price ranges in many cities all over the country)
1428 S 18th St, Saint Louis, MO 63104 | Zillow
1428 S 18th St, Saint Louis MO, is a Single Family home that contains 1368 sq ft and was built in 1906.It contains 2 bedrooms and 2 bathrooms. The Zestimate for this Single Family is $313,400, which has decreased by $8,942 in the last 30 days.The Rent Zestimate for this Single Family is...
www.zillow.com
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