Throughout the housing boom of the early part of this decade, as prices continued to skyrocket for housing in Los Angeles, many people packed their bags and left.
Many of us Angelenos heard numerous stories of people who moved to cheaper, more affordable locales. Vegas. Phoenix. Other parts of California. Most everybody knew of somebody that sold high and bought cheap somewhere else.
But the boom has most certainly turned to bust. Prices have come down -- even if not as much as some would like. Yes, the job market continues to be in the crapper in Los Angeles. However, there is growing evidence that lower housing prices is resulting in more people choosing to either stay in Los Angeles or to move within the city, according to relocation.com:
- As recently as 2005, 60.7% of the relocation activity for California was outbound – in other words, for every 2 people who were moving to California, 3 were leaving ... outbound Los Angeles moves accounted for 36.4% of all moves in 2009 year to date, down from 43.1% in 2008 ...
To read the entire relocation.com post, CLICK HERE.
And elsewhere, Time Magazine thinks the California Dream is hardly dead.
