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California Is Losing People; What Is Happening? | Jim Doti

California had a net loss of 200,000 people last year. It’s not just the people, but the businesses and jobs are leaving as well. Most people, including the California government, believe it is the housing costs that are driving Californians out of state.

Despite the state pushing for 180,000 new housing units per year, the construction is constant at around 100,000. Meanwhile, the number of people per household has dropped, meaning there is more housing available per capita.

Is the housing cost the main factor for people leaving California, or are there other hidden factors behind this exodus?

To understand what’s happening, we talked to Jim Doti, president emeritus and leading economist at Chapman University. He has been hosting annual economy forecasts, and his forecast last year was the most accurate compared to 50 other nationwide forecasts.

We discuss why he’s predicting California’s housing market will decline, and the cause behind businesses and people leaving the golden state.

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