SALT LAKE CITY — Intermountain West cities like Boise and Reno, Nevada, are benefiting from California’s fleeing population.
What’s going on: California residents are moving away from the Golden State. Housing costs, high taxes and the ongoing threats of natural disasters make the place nearly unlivable. Many of those residents are running to Boise and Reno instead, Bloomberg reports.
- “They’re making their escape to areas such as Boise, Phoenix and Reno, Nevada, fueling some of the biggest home-price gains in the country. While the moves are motivated mainly by economics, they’re also highlighting political divides as conservatives from the blue state seek friendlier areas and liberal transplants find themselves in sometimes hostile territory.”
- “California’s history of booms and busts has fueled exoduses before, but its soaring real estate costs have made living there ever more difficult for people who don’t earn big salaries.”
- Glenn Kelman, chief executive officer of Redfin Inc., said Boise is becoming an alternative for many Californians since places like Portland and Seattle have become too pricey.
Don’t forget Utah: A map included in the Bloomberg report showed seven states with a more than 7 percent year-over-year change in single-family home prices. Utah is one of those states, along with Washington, Idaho, Nevada, Colorado, Arizona and California.
Read more: Head over to Bloomberg Quint to see more about how the change in population is affecting these Western states.