California has now had more massive departures than ever before according to the latest report conducted by Fortune.
The number of former Californians who became Texans dropped slightly last year, but was made up by Arizona and Florida, which saw the number of ex-Californians grow, according to new state-to-state migration figures released in October.
“The flow of Californians to Texas has marked the largest state-to-state movement in the U.S. for the past two years, but it decreased from more than 107,000 people in 2021 to more than 102,000 residents in 2022, as real estate in Texas’ largest cities has grown more expensive,” reports Fortune.
“In Florida, meanwhile, the number of former Californians went from more than 37,000 people in 2021 to more than 50,000 people in 2022, and in Arizona, it went from more than 69,000 people to 74,000 people during that same time period.”
According to the report, California had a net loss of more than 113,000 residents last year.
More than 343,000 people left California for another state last year, the highest number of any U.S. state, reports Fortune.
Why are Californian’s moving to other states? The rise of housing costs and taxes seem to be the #1 reason for the exodus.
“We are losing younger folks, and I think we will see people continuing to migrate where housing costs are lower,” says Manuel Pastor, a professor of Sociology and American Studies & Ethnicity at the University of Southern California.
“There are good jobs in California, but housing is incredibly expensive.
It hurts young families, and it hurts immigrant families,” he continued.
“Overall, more people living in one U.S. state moved to a different state last year than they did in the previous year”, says Fortune.
Other Economy News Today
A US bank is now keeping customer’s money on hold from days to weeks with no explanation according to several reports.
Chase users are reporting on Downdetector the bank has been holding their direct deposits anywhere between days to several weeks.
“I’m still waiting on my pay from 11/3 as well,” said one user on Monday.
The bank has been heavily scrutinized recently, especially after an ATM outage prevented customers nationwide from withdrawing money during Labor Day weekend.
“I think it is absolutely ridiculous that Chase can continue to take out money from checking accounts and authorize automatic payments and then charge for overdraft fees but they cant deposit my check from my employer,” says Shelly on Downdetector.
“I have been waiting for my check to get direct deposited in my bank for over a week now and because the funds are not there, automatic monthly payments for bills are being subtracted from my account when funds are not available due to the error and ongoing unresolved delay with deposits which is not the customers fault!”
“Most importantly, who can explain to my kids why we have no money to buy food because of the bank error with direct deposit??
I have called Chase over and over again and I get directed to customer support in India where the inform me that they cannot connect me with someone in the US.”
But Shelly isn’t the only Chase customer experiencing frozen direct deposits.
Many users online have shared their experience of being unable to have access to their money after a direct deposit has been issued.
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