Earlier quoted context omitted.
California is bleeding something like 60,000 people each year just to Texas. The Californians moving to north Texas metros do not appear poor relative to neighboring Texans enjoying superior standards of living with deprecated wages compared to California. When I bought my Texas house about a decade ago the average house price in my metro was about $200,000 and now I think it is about $250,000. These average houses a…
You did say "do not appear to be poor". Is there a chance you're noticing wealthy people, because they tend to be more noticeable? Yes, people who bought a house while ago in California, sell, and move to Texas would have a lot of money. But again, is this typical? I'm not saying it necessarily isn't typical, just that "it seems like", or "appears to be" isn't data. A lot of people leave California because they can c…
This was the business owner at my first job out of college. He sold his California home and used that money to bootstrap his business for two years and hire employees while also supporting himself and his family.
The answer though is middle class people according to IRS data - https://www.cnbc.com/2018/03/19/californians-fed-up-with-hou...