More proof California is collapsing.
“According to U-Haul’s annual rankings of the net-gain of one-way U-Haul trucks and equipment arriving in a city or a state compared to those departing, California ranked dead last, meaning the state had the worst out-migration compared to in-migration of any state in the nation. This is corroborated by the U.S. Census Bureau’s report in November that California had the lowest inter-state migration rate, or the ratio of people moving into the state of all those moving into or out of the state, in the United States in 2022.
Has Newsom had his sanity questioned? He claimed we are a prosperous State. $68 billion deficit proves otherwise. Folks fleeing the State proves otherwise.
U-Haul ranks California dead last due to net exit of moving equipment from state
By Kenneth Schrupp | The Center Square, 1/4/24, https://www.thecentersquare.com/california/article_485a1534-ab46-11ee-a832-87162d665c98.html?a?utm_source=thecentersquare.com&utm_campaign=%2Fnewsletters%2Flists%2Ft2%2Fcalifornia%2F&utm_medium=email&utm_content=read%20more
(The Center Square) – According to U-Haul’s annual rankings of the net-gain of one-way U-Haul trucks and equipment arriving in a city or a state compared to those departing, California ranked dead last, meaning the state had the worst out-migration compared to in-migration of any state in the nation. This is corroborated by the U.S. Census Bureau’s report in November that California had the lowest inter-state migration rate, or the ratio of people moving into the state of all those moving into or out of the state, in the United States in 2022.
Due to rising interest rates making the purchasing of homes less affordable nationwide, moves remained down overall, with U-Haul’s California arrivals down 4% and departures down 5% in 2022. U-Haul says California has ranked worst in equipment losses for the last four years as staff say the cost of living and better opportunities elsewhere are driving residents out of the state.
“The main reason we hear people are leaving the state is just the cost of living being high and it really continues to rise,” said U-Haul Area District Vice President Chad Ferren in a video announcing the report. “Another reason is we do see some companies leaving and moving to other states and their employees are leaving with them, or residents are moving towards those areas with a little bit more job growth and potential for them.”
Ferren also said self-assortment in politics has also been a factor in outmigration.
“People are migrating based on their beliefs,” Ferren said.
Top U-Haul destinations are Texas, Florida, North and South Carolina, and Tennessee. All have Republican governors and legislatures except for North Carolina, which has a Republican legislature and Democratic governor.
California currently faces a $68 billion deficit for the 2024-2025 fiscal year, with major cuts to government services, increases in taxes, or both likely to be required to meet the current fiscal situation. According to the nonpartisan Legislative Analyst’s Office, the state likely entered a recession in March 2023, in part due to what it says are higher borrowing costs and reduced investment in the state economy.
It might actually be that not as many people coming into CA can afford U- Haul equipment as those leaving.