When the news broke earlier this year that California's population contracted, jaws dropped. The census delivered the startling bulletin: the state's population shrank by 182,000 people. It was the first annual population loss in the state's history, and an illustration of the migration to secondary Sunbelt states during the pandemic.
But—the population change isn't really a sign that the state had lost its luster, as The Los Angeles Times suggested, or that the market is no longer a solid apartment investment market. According to experts at GlobeSt.com Multifamily in Los Angeles, there is no cause for concern.
Richard Barkham touched on the topic in his opening keynote speech. His take was international migration that has tapered and caused a contraction in the state's population.
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Kelsi Maree Borland
