Industry News

Real estate prices have Californians considering relocation

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Almost a quarter of all Californians say the cost of housing in their part of the state is forcing them to seriously consider moving to another part of California or out of the state altogether, according to a new survey by the Public Policy Institute of California. Nearly all Californians – 94 percent – perceive that home values have been increasing in their region, with 84 percent saying they have increased a lot in recent years. But the survey also found that more than 75 percent of adult Californians are concerned the state's cost of housing will prevent the younger generation in their families from buying a home in their region of the state. "Californians understand the economic value of our hyper real estate market, but they also feel the pinch of high prices," said Mark Baldassare, PPIC's statewide survey director. A majority of Californians – 55 percent – view the availability of affordable housing as a big problem in their region today, placing it...