Homebuyers Are Leaving LA to Escape the High Prices, But History Shows Us This Isn't New
Gary Painter, a professor at USC's Sol Price School of Public Policy, acknowledges that some people are able to leave high-cost areas due to remote work but doesn't agree that it's a key driving factor.
It's just that immigration from Asia and Latin America were flowing in to replace the people leaving, resulting in a positive population growth, Painter said. Beyond LA, Redfin ranked San Francisco as the city with the highest net outflow. Other places that made the top five are New York, Washington, D.C. and Seattle.
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