No Evidence of California Exodus Or ‘Millionaire Flight’, UC Research Project Finds

Charlotte Web shares a report from SFGate: Despite the popular belief that residents are fleeing California, there is not in fact a statewide exodus, new research out of the University of California finds. For one, while residents are moving out of state, they are not doing so at “unusual rates.” Similarly, the research found no evidence of “millionaire flight” from California and notes that the state continues to attract as much venture capital as all other U.S. states combined, despite the recent exodus of Hewlett-Packard and Oracle. The report did reveal net migration out of San Francisco during the pandemic. However, about two-thirds of people who left the city remained in the Bay Area, while 80% stayed in California, which is consistent with earlier trends…
A recent survey by UC San Diego, included in the project, found that the percentage of Californians who plan to leave the state has remained

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