The other day I received a call from a small business owner in California who wants to relocate his business. He named five states that he’d like me to review with two stipulations: “I’ve got to know how friendly their business climates are, and I want you to look at the cost of housing.”
The next thing he said I’ve heard time and again: “I pay my employees well but many of them can’t afford to buy homes in Los Angeles. I want to know where they can.”
Major corporations in California also are concerned about housing costs and some have publicly admitted they were a factor in their relocation decision.
I’ll share the information source that I find indispensable on the topic, an updated version that was just released, which is the 15th Annual Demographia International Housing Affordability Survey. It reviews factors in eight countries to identify reasonably priced housing for middle-income people.