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Is California Dying?? #TimeToSell #ChrisBJohnsonREALTOR
by Mark Schniepp
That was the headline in the LA Times on May 1, 2019.
The growth in California’s population between 2018 and 2019 was the lowest since records have been kept, going back to the year 1900.
The population of California is now estimated at 39,927,315 people as of January 1, 2019. The rate of growth over the last year was under 0.5 percent.
Is this good or bad?
It means there will be a slowdown in the pressure to build more housing which is the biggest economic issue in the state right now. So the ongoing slowdown in population growth is welcomed.
The state still needs more housing units, and the simple and obvious evidence of this is their price—to buy or to rent—principally in coastal communities.
But a slowdown in population is what we’ve been observing and expecting for many years. It’s what we’ve waited for. A population decline actually occurred in Los Angeles County last year. It was slight but it did occur. And it’s likely to occur this year and over the next few years especially if the economy hits a soft patch.
Is Negative Population Growth a Concern? Although the state could use ... more
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