The Daily Money: Escaping 'the asylum' Meet 3 Californians who moved to Texas

Happy Hump Day, The Daily Money Readers! This is Swapna Venugopal Ramaswamy bringing you today’s top headlines.

In 2021, leaving California for Texas was the most popular interstate move in the country, with 111,000 people – or 300 people a day – making the change. The exodus that year represented an 80% increase from 2012.

The median value of a home in California was 2.7 times higher than in Texas in 2021, making the move to Texas attractive for first-time homebuyers. For existing homeowners, the move would offer them a chance to bank a tidy sum of money from the sale of their home.

While housing affordability and taxes are surely playing a role, broader political differences about the role of government in society could also be a factor in some migration decisions, say researchers at Public Policy Institute of California.

Bill Ross, 65, who made the same move says he was paying high taxes for things that he didn't believe in.

“The priorities are just all misplaced," he said. "I mean, we really felt like we were living in an asylum, and when we left, we felt like we escaped from the asylum.”

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