Updated over 1 year ago on . Most recent reply
Population declining but prices are going up. How is that possible?
According to the US census data Los Angeles, CA county population declined 3.5% in the last few years as you can see here:
(Data from April 2020 - July 2023).
But Real Estate prices went up in that period 25% according to Zillow (From $665,868 to $834,772).
Rents went up 18% (From $2,380 to $2,827).
How that can be?
If more people are leaving then coming in, prices should go down?
Unless there is a big increase in undocumented immigrants and then there is really an undocumented population increase and that's why prices are going up?
Can there be any other reason?