California is Losing People, What is Happening? | Dr. Jim Doti

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California had a net loss of 200 Thousand 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 thousand new housing units per year, the construction is constant at around 100 thousand. 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 Dr. Jim Doti - President emeritus and the leading economist at Chapman University. He has been hosting annual economy forecasts and his last years forecast was the most accurate compared to 50 other nationwide forecasts.

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