After five years of stirring up the real estate pot,
Californians have stopped moving east, and newcomers are moving to
the coast again. That’s the conclusion of private researchers who
studied surrendered drivers’ licenses in the Golden State. It marks
the first time in six years that more people are moving into the
state than leaving, says Stephen Levy, director of the Center for
Continuing Study of the California Economy. Between June 1996 and
July of next year, he estimates 25,000 people will move to
California. “It is job driven,” Levy told the Oregonian. “The
California economy has recovered, and the state is growing again.”
While job creation rates are still higher in other Western states,
the upturn in California might well mean a slight deceleration in
job growth and real estate prices elsewhere. For a synopsis of the
research, contact the Center for Continuing Study of the California
Economy, 610 University Ave., Palo Alto, CA 94301
(415/321-8550).
This article appeared in the print edition of the magazine with the headline Californians stay home.
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