Continuing Education continues, still challenging to pluck out useful data from the boiler plate Realtor propaganda ...
Even six years into the recovery, housing starts were at the lowest level in 40 years. It's no wonder there's a housing crunch across the state. And to answer the follow-on question: Yes, nationwide data prove out the same story.
Opposite side of the same coin, rental vacancy at a multi-decade low.
For handful of stories about retiring Baby Boomers ditching California's high cost of living and high taxes, most are hunkering down for their golden years.
Migration from abroad has maintained a positive net migration rate in California, which notably summers increased domestic out-migration during periods of economic booms (thanks primarily to rising housing costs).
It's no wonder Sacramento has one of the hottest rental markets in the country, after taking basically a decade off from new construction. Especially with payrolls above the pre-recession peak (bonus 6th chart!).