Coastal California Getting Older, Not Bolder | Newgeography.com
. . . is this end stage terminal demographic decline?
"For the better part of a century, Southern California has been seen as the land of surfers, hipsters and youthful innovators. Yet the land of sun and sea is becoming, like its East Coast counterpart Florida, increasingly geriatric."
But this is happening throughout the country, we are an aging nation, still vital, but on average older.
"At the same time, our analysis shows that some areas – notably along the Orange County coast – are rapidly becoming virtual retirement communities, with a diminishing number of children and young families. For those sitting in their houses in affluenza-afflicted enclaves of Southern California, this may seem good news: “aging in place” while their homes increase in value. But this trend is less a boon for younger people, particularly families, as well as for companies seeking to launch and expand here."
So, the kids are leaving, moving to more prosperous pastures, likely to Texas, and the SunBelt, anywhere but California, and the West, where housing is unaffordable.
MILLENNIALS are having a tough time economically here is Portlandia . . .
What are the chances they will ever move back? With home prices resting in the $7500,000 to 2.5 million per house? Probably never. Who would want to move from Tennessee, with reasonable house prices for a nice spacious home on an acre or more for a small house on 7,000 sq. ft. lot, for thrice the price?
These oldsters love that the home prices are high, and apparently do not fear that the kids are leaving. Who will buy these homes? More old people? How many uber rich are there, and how many of them will be willing to move and spend a million or so on a home? Perhaps this will become an enclave of oldsters, with the young old buying from the old old. And perhaps this will become Detroit.