Southern California might be a great place to live, but the pandemic and an expensive housing market have pushed many residents to move—like, all the way to Mexico.
Year-over-year home prices in the Los Angeles metro area were up 15.2% in 2021, while prices in Southern California overall went up 15.4%, according to a report by Norada Real Estate Investments. Shockingly, almost half of America’s “million-dollar cities,” where the average price of a home is at least $1 million, are in California, according to a Zillow study published today. The Los Angeles metro area has 57 million-dollar cities, and the state of California has 44% of all million-dollar cities nationwide.
For residents in these cities, affordable housing is increasingly found over the southern border.
“Since the beginning of the pandemic, the number of buyers and people looking to rent a house in Tijuana has increased considerably,” Fermín Kim King, president of the Real Estate Association of Tijuana, recently told reporters from Border Report.
fortune.com/2022/02/16/how-expensive-is-california-housing-market-mexico-home-prices/