With no letup in home prices, the California exodus surges

Say goodbye to Hollywood, Billy Joel sang in 1976.

Now, in the midst of a deepening housing crisis, thousands of people are following that advice.

Over a million more people moved out of California from 2006 to 2016 than moved in, according to a new report, due mainly to the high cost of housing that hits lower-income people the hardest.

“A strong economy can also be dysfunctional,” noted the report, a project of Next 10 and Beacon Economics. Housing costs are much higher in California than in other states, yet wages for workers in the lower income brackets aren’t.

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