As the so-called exodus from the Golden State continues, California is now losing both higher-income as well as middle-income households, according to a study published in March by the nonpartisan research group, Public Policy Institute of California.
During the height of the pandemic, the report found, there was a decline in higher-earning families relocating to California. Meanwhile, according to the study, there was a significant rise in the number of wealthy households leaving the state from about 150,000 in 2019 to nearly 220,000 by 2021.
Additionally, according to the report, California is losing the demographic historically known for in-migration to California: college graduates.
The change in all three demographics, the study said, is likely due to the ability to work remotely. Out of the recent wealthy Californians who left the state, according to the study, more than half were working from home….