July 11, 2022 - Epoch Times
02:00
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| Time | Text |
|---|---|
| California had a net loss of 200,000 people last year. | |
| It's not just the people, but the businesses and jobs are living as well. | |
| The state is not accomplishing its goals to make a statement that we're solving the problems, we're the white knights addressing it, and we're putting a lot of attention to it. | |
| Where are the results? | |
| Most people, including the California government, believe it is the housing costs that are driving Californians out of the state. | |
| Despite the state lowering its aggressive goals from 350,000 new housing units per year to 180,000, the construction is constant at only around 100,000 units. | |
| Meanwhile, the number of people per household has dropped, meaning there is more housing available per capita. | |
| Over the last five years, this is an incredible statistic, California over those five years experienced a loss, net loss, of 750,000 people. | |
| 750,000 more people moved out than moved in. | |
| It's almost a loss of a million in population. | |
| Are the housing prices the main cause for people living in California? | |
| Or are there other hidden factors behind this exodus? | |
| To understand what's happening, we talked to Dr. | |
| Jim Doughty, President Emeritus and the leading economist at Chapman University. | |
| He has been hosting annual economic forecasts, and his last year's forecast was the most accurate compared to 50 other nationwide predictions. | |
| Today we discuss why he's predicting California's housing market will decline and the cause behind businesses and people leaving the Golden State. | |
| So it's a Chapman, UCI, UC San Diego survey. | |
| We interviewed 150 CEOs throughout the state, randomly, and 42% responded, they are considering moving out of the state. | |
| 42%! | |
| I'm Siamai Korami. |
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