Is the Cali exodus inflated and how has it affected your market?

Question

Hello again,

Recently I've been hearing alot from close friends and some popular podcasts that there is currently a "Mass exodus" out of California. I'm looking to invest in a multi-family unit in Las Vegas, NV. At first glance, it would be great if there was a huge migration to the Vegas area. However, i'm still sort of skeptical about the kind of impact that COVID-19 has had on the renters market currently as well as the lasting impacts.

Any thoughts?

Bill B. · Answer

More adults living in Vegas were born in California than Nevada. Been true for years. If I had to GUESS. 1/3rd of the people who live in California do so for the climate, the views, etc, are truly happy there. 1/3rd of them just aren’t motivated enough or financially secure enough to move, and 1/3rd are trapped by jobs that “pay more than they can make somewhere else” even if they net less after taxes, higher cost of living, lower quality of life and so on.

Did you see they proposed a wealth tax that would tax the rich even after they leave the state?

https://www.foxbusiness.com/fb...

Ty Hill · Answer

Bill,

Gotcha. Okay that's an interesting take. Also, No I hadn't seen that about the wealth tax. If that is the case that seems criminal!