Coast real estate boom frustrates renters, employers — but few want to leave

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  1. This scenario is playing out statewide, with vacancy rates around 2% as many of renters have stayed put paying just 25% of their monthly rent to their landlords (COVID relief) while landlords become homeless, unable to evict them, losing their homes to foreclosure. Most can forget purchasing ever, with median prices pushing 3/4 of a million dollars and more. Residents in states surrounding Cali complain their prices are increasing due to the exodus of Cali residents, while many of those fleeing complain their birth state has forced them out. Until or unless we stop selling property to foreign entities/shell companies and non-US citizens our natives will continue to flee for their lives. And in So Cal, income based/senior housing has been overrun by same. Look for the blogs, they advertise that prices in Cali compared to their own countries are rock bottom, while offering cash to Cali home sellers tens of thousands above their asking prices. Things have to change!

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