Why a lot of people are moving out of California

CNN Money  "A lot of people are moving out of California because they can't afford to live there anymore.

"For every home buyer coming into the state, there are three Californians selling and moving elsewhere, according to data analysis firm CoreLogic.

" 'There is clearly a relationship between the migration patterns and home prices," said Sam Khater, deputy chief economist at CoreLogic. "The middle and lower middle can no longer afford to live in California."

"California's housing market is one of the most expensive in the nation, [with] a median home price of $428,000 across the state. Prices have shot up 71% since 2011.

"And a number of its local markets are prohibitively expensive. Of the five priciest housing markets in the country, four are in California, according to the latest data from the National Association of Realtors. San Jose tops the list with a median home price of $1 million." . . .  Kathryn Vasel