Costly Cities See Exodus (todays' WSJ)

[Jon Q.]

The trend I started noticing in 2008 and my investment thesis for last 10 years...

https://www.pressreader.com/belgium/the-wall-street-journal-europe/20161103/281771333749176

Let's discuss this...

[Matt Mason]

Originally posted by @Naveed Q.:

I think this was discussed couple of months back on an another forum post in terms of how many people are moving out of California and even listed all the companies that have either moved out or plan to move out. And if I recall the argument was that the jobs/people moving out of CA are low paying jobs which are being replaced by high paying ones.  An interesting data point will be to see how many high paying jobs have moved to CA or job growth from 2010-2014.

I have seen a bunch of articles like this in the past.  Haven't seen much evidence of it here the last 6-7 years.  All everyone complains about is gentrification and too many people with money moving in.  When I see that they only consider domestic migration in their stats I know it is all but meaningless for an international city like Los Angeles or San Francisco.  So many immigrants here and many of them are more educated and much more driven than the average American.

Still there are people that move away due to high housing prices, especially those on the lower end of the income spectrum.  Also, there isn't physical room for many more people in some of the built out cities, so these places can't even absorb natural increases through births over deaths.