Unemployment and Housing Bust Force California Residents to Move Out of State
A new study shows that the slow U.S economy has greatly decreased the number of illegal immigrants from Mexico. From a high rate of 1.6 million in 2000, the number of arrests decreased to 327,000 last year. This is a great decline since the early years of the 1970s.
Duane Conder, a freelance photographer is now selling most of his belongings in Ebay as he and his family is getting ready to move.
He said that it will be traumatic since his family has lived near San Diego for the past 11 years.
He shared that it just seemed so sudden that all the work was gone in an instant.
During the dot-com boom, his family moved from Texas to California. However, since California is currently struggling to provide jobs to their citizens with an unemployment rate of 11.7%, they had to foreclose their home and are forced to move out of California to go back to Texas.
The unemployment rate in Texas is lower compared to California at 8.4%. In 2010, around 75,000 new residents moved to Texas while California lost about 130,000.
Aside from having no jobs as the main reason for the movement of the people, housing is also another factor. In Los Angeles, a 3 bedroom home sells for about $1 million. A similar 4 bedroom house is only selling at $380,000 in Texas. The people who purchased the more affordable homes are those who moved from California.
Bill Gaiennie moved his family and business from California to Texas. He said that they will stay in Texas and just visit California from time to time. They exchanged their 1 bedroom apartment for a 4 bedroom home. He said that if they stayed in California, they need to be a two income family in order to live in the place that they are in right now. However, the no personal income tax and lower cost of living in Texas currently allows him to sustain his family even with only him working.
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Tagged with: California • Ebay • Los Angeles • Mexico • San Diego • Texas • Unemployment • United States
Filed under: mortgage loans
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