By Angela Gonzales | Phoenix Business Journal
Affordable rental rates and home prices in metro Phoenix continue to attract Southern California residents in droves, according to a report by the University of Southern California Lusk Center for Real Estate.
While it’s no surprise to local real estate experts, the USC Casden Multifamily Forecast shows how the lack of Southern California’s affordable housing is impacting that area’s economy.
Christopher Thornberg, economist and founder of Los Angeles-based Beacon Economics, also contributed to that report.
He ran some numbers for the Phoenix Business Journal and found that of the total 367,913 people moving to metro Phoenix in 2017 and 2018, about 37,000 moved from the Los Angeles, Orange County and Inland Empire areas in 2017 and 2018.
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