> I'm failing to see how losing 0.3% of your population is not the beginning of an exodus?
It could be the beginning of an exodus, but it is not strong evidence that an exodus will follow. If done for affordability reasons, it reduces demand a bit to create a new equilibrium with supply.
Anyways, I’m not clear why anyone with a background in tech would be confident that a 0.3% drop was evidence that a huge drop was just right around the corner.
You would not be wrong if that was the first year. But it follows a multiple years long trend. The only reason the population of California kept increasing was because births were offsetting the net lost of migration until 2018.
It could be the beginning of an exodus, but it is not strong evidence that an exodus will follow. If done for affordability reasons, it reduces demand a bit to create a new equilibrium with supply.
Anyways, I’m not clear why anyone with a background in tech would be confident that a 0.3% drop was evidence that a huge drop was just right around the corner.