firstname.lastname@example.org | May 18, 2019 | 0
Thousands of residents leave Los Angeles, Central Valley
By Ron Trujilloemail@example.com
California boasts a booming economy, good-paying jobs and much opportunity, but not everyone enjoys the golden age in the Golden State.
Six regions of the state — including four in the agriculture-dependent and forever-struggling Central Valley — endured dramatic increases in residents moving away between 2010 to 2017, according to the U.S. Census Bureau.
Now, none of the six regions endured a decline in population, since births helped offset the migration movement. But each had thousands of residents hit the road for other places to call home.
Los Angeles-Long Beach-Anaheim region had almost 94,000 residents leave between 2010 to 2017, the second-largest migration in the nation, behind Chicago at a staggering 296,320. The cost of housing — about $578,000 — likely caused many Angelenos to look elsewhere.
The Central Valley, from Bakersfield to Fresno, had four of the regions with increases in residents hitting the road. All four communities offer affordable housing — all below $238,000 — but a lack of jobs, especially good-paying positions, likely prompted the moves.
Fresno, the center of the agriculture economy, had 7,751 residents move away, the 44th-most in the U.S.
Nearby Visalia-Porterville-Tulare finished at No. 22, with 12,30 residents leaving, while Hanford-Corcoran (No. 17) had 14,442 departing, according to the Census Bureau.
Bakersfield had 7,314 residents leave during the seven-year stretch, the 46th-most in the nation. However, Bakersfield has battled a sort of local recession in recent years, as oil prices declined, leading to layoffs in the energy section in the region.
Only slightly better, El Centro in the southeast corner of the state, east of San Diego and near the border, had 7,219 residents run from 2010-2017, the 47th-worst in the nation.
Photo of Los Angeles interchange by Melpomene/Shutterstock
Looking for cheap rent in LA? It’s going to cost you $2,100
Finding an affordable apartment close to work and in a good neighborhood is rough, regardless of where you live in California.
But the difference in rent can range from just a few hundred to almost $1,000 between the highest- and lowest-priced units, according to RENTCafe.
Los Angeles renters had the largest gap between the highest- and lowest-cost units. The highest-priced apartments are $2,995, compared to $2,089 for the lowest-priced units — a 43% difference, the largest percentage disparity in the state.
Fresno had the second-largest difference at $1,198 vs. $928, or a 29.1% difference. Sacramento finished in third place at 20.8% — $1,491 vs. $1,234.
Check out the complete list, which includes the Bay Area and San Diego.
Photo of apartments in Foster City by Sundry Photography/Shutterstock
Foreclosures return for some regions in first half of year
With record-high home prices and many homeowners enjoying a ton of equity, foreclosures are down nationwide — and much of the state.
But not everywhere. California communities, from Bakersfield to Chico, had a bump in foreclosures during the first half of the year compared to the same six-month period in 2017, according to ATTOM Data Solution.
Affected homeowners cannot blame the housing crisis or the Great Recession, when 1.1 million in California lost their homes.
“Localized foreclosure flare-ups in the first half of 2018 can no longer be blamed on legacy distress left over from the last housing bubble given that nearly half of all active foreclosures are now tied to loans originated in 2009 or later and given that the average time to foreclose plummeted in the first two quarters of the year,” says Daren Blomquist, senior vice president with ATTOM Data Solutions. “Instead these local foreclosure increases are typically the result of more recent distress triggers in those markets.”
Sacramento had 1,422 foreclosures for the first half of the year, a 16% boost from a year ago – and the most foreclosures in the state. Chico had 179 foreclosures during the January through June period, a 48% increase from a year ago.
Bakersfield had 944 foreclosures, an 8% increase from a year ago. Stockton-Lodi had 429 foreclosures (up 2%) and Modesto reported 366 foreclosures (up 6%).
Photo by Jeff Turner/Shutterstock