Sunday, March 19, 2017

California's poor flock to Texas as West Coast homes and jobs fall out of reach

[Dallas News] They got tired of California dreamin'.
Skyrocketing home prices and fierce competition for jobs in the Golden State are prodding poor families to pack up and head to Texas. Our state was the top destination for low-income residents leaving California between 2005 and 2015, according to a recent data analysis by the Sacramento Bee.
In that time period, about 293,000 impoverished people left California for Texas and nearly half that figure moved into California from our state, for a net loss of 156,000 people, the Bee reported.
The fact that people are moving in large numbers to Texas is an indicator that the state has economic growth and opportunity, said state demographer Lloyd Potter.
"Of course, the ideal is for Texas to be adding more higher-income, higher-skill kinds of jobs relative to lower-income, low-skill, low-education kinds of jobs," Potter said. "But you need the whole spectrum in a functioning economy."
In past decades, many Californians have resettled next door in Arizona, Nevada and Oregon, said James Gaines, chief economist at the Real Estate Center at Texas A& M University.
They still do. The Bee's analysis shows that after Texas, those three states are the largest recipients of California's low-income migration.
But Texas has become a more attractive choice for tens of thousands of poor Californians. Gaines points to jobs and housing as reasons.
"Texas is simply — overall, in any measure — a much lower cost-of-living state," the economist said. Read More