The Great Escape....California
As California housing prices went wild in the middle of this decade, hundreds of thousands of residents scratched their heads and moved to places where homes were still affordable, state and federal statistics show. When prices started falling and unemployment started rising, many continued to leave California for healthier job markets.
The result was five consecutive years when California saw more residents going to other states than coming. Although many stayed closer to home – Nevada, Oregon, Arizona – the mid-South saw a large influx.
From 2004 through 2007, about 275,000 Californians left the Golden State for the old Dust Bowl states of Oklahoma and Texas, twice the number that left those two states for California, recent Internal Revenue Service figures show. In fact, the mid-South gained more residents from California during those four years than either Oregon, Nevada or Arizona. The trend continued into 2008.
For a state with a HUGE deficit....losing residents only depletes the flow of tax receipts further. It is part of the problem that Michigan is facing right now leaving city after city wanting for residents and starving for revenues.....to the point where Michigan is now tearing down entire sections of towns and can't afford to keep roads paved.
You think California is immune from draconian measures when money runs out....watch what happens over the next few weeks......Prepare.
When a politician has to choose between taxing you and his job....guess what choice will be made????