(RestoreAmericanGlory.com) – A new Redfin report has found that for the first time on record Americans were leaving Los Angeles in favor of more affordable metropolitan areas.
According to the findings in November approximately 24 percent of U.S. home buyers were searching for a new major city to move to, however, Los Angeles was not on top of the most desired destination list, but rather was the metro area that people were most likely to be moving away from. Redfin argued that this was the first time on record that the area had become the number one place that homebuyers are exiting. It also noted that the latest report marked the first time in more than two years that the Bay Area is not in the number one spot.
During the COVID-19 pandemic when remote or from-home work became more common, many Americans began leaving both areas in California to move to more affordable locations with lower living costs.
Los Angeles is not the only metro city to be suffering because of this trend with the record in November showing that the top locations Americans left behind were New York City, San Francisco, Seattle, Boston, Denver, Detroit, Philadelphia, and Washington, D.C. These are 10 of the most populated cities in the country that have historically expensive housing.
Specifically in Los Angeles, many Americans decided to leave after having to remain in the extremely expensive area during the most unaffordable year on record. The unaffordability of homes in the state has also led to a high increase in the homeless population in the state, with California having close to 30 percent of the country’s homeless population.
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