Washougal, WA
Quoted from jimjim66:I don't know if it is the "new" Californians that are leaving.
I look at it as people who are willing to sacrifice what California has to offer versus more bang for your buck someplace else. Many people that have been here for a long time can cash out with the high market prices. People are literally selling houses in the bay area for millions of dollars and are basically cashing out on a realtor lottery ticket compared to what they bought the house for 20-25 years ago. They can buy a mansion someplace else in the U.S. as 800 foot fixer upper houses in Sunnyvale sell for 2 million.
On the flip side, as you mentioned, they are being replaced by somebody who has stupid money to buy a fixer upper for millions of dollars. There are people wealthy enough to pay the price. As millionaires are still coming.
California real estate kind of reminds me of the pinball market.
I think they are coming to Portland to buy NIB pinball machines without sales tax 
...but seriously, there are 100 people a day moving to Portland or surrounding areas. In southwest Washington there are new houses going in everywhere for Portland commuters, they used to cost in the high $200k, now new houses are selling in the low $400k. Real estate is crazy hot. 4 years ago I couldn't sell my house, an agent offered to "take it off my hands" for the $150k I owed on it. Two years later I sold it for $260k. It's now appraised at $360k. I'm not sorry I sold it considering what the property tax is costing now.
I don't envy folks in Tacoma/Seattle where sales tax is at 10%.
