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by EricE
1468 days ago
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Someone has to be buying up all those houses in CA that the people fleeing the state are still selling at inflated prices. If the net population of a state has dropped enough for them to loose at least one seat in the house of representatives, but houses are still selling for high prices than logically it's not people buying up those houses. |
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While California is estimate to have lost some population after the 2020 census, the seat lost due to the 2020 census was with a population gain from 2010. The fixed number of seats means gaining population at less than the national average can result in seat loss (more easily the more seats you have to start with.)
With the right nationwide distribution of population gains, a state could even lose seats while gaining population at or above the national average rate (especially if some of the states that start out with population below the average size of a house seat are gaining population slower than the national average, since they can't lose seats in any case.)
> but houses are still selling for high prices than logically it's not people buying up those houses.
In California as everywhere else in the nation, the number of active listings has fallen dramatically in recent years; prices are high not because demand is high (particularly), but because supply has become very low. It doesn't take many people trying to buy to drive market clearing prices high when almost no one is selling.