(ZEROHEDGE) – A new report using property searches and census data from realtor.com reveals which states Californians are moving to when they realize that a $1.4 million McMansion on 1/16th of an acre while staring into their fat neighbor's bedroom window just isn't all it's cracked up to be.
Silicon Valley residents in particular are leaving in droves - more so than any other part of the state. Nearby San Mateo County which is home to Facebook came in Second, while Los Angeles County came in third.
“They’re looking for affordability and not finding it in Santa Clara County,” said Danielle Hale, chief economist for realtor.com.
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A tight housing supply combined with nearly a decade of exploding home values have pushed housing prices and rents through the roof. Take, for example, this 848 square foot home on Plymouth Drive in Sunnyvale, CA (which in the 90's was the "poor" part of town vs. nearby Mountain View and Los Altos).