Find out the cities most people are moving to (and moving out of). (Getty Images/j2pix.com)
The housing market is in a state of flux, but people are setting their sights on one place in particular: Sacramento. A recent report by Redfin found that California’s capital was the most searched for destination for homebuyers planning to move between October 2023 and December 2023.
Redfin’s migration analysis was developed from the search results of about two million Redfin.com users who looked at homes in more than 100 metro areas across the United States. The “inbound” data was calculated by adding the number of home searchers looking to relocate there, minus the number of searchers planning to leave. Sacramento’s score was 5,400, making it a standout among the other competitive metro areas rounding out the top five. Las Vegas tied with two Florida metros (Cape Coral and Sarasota) for the second position with a score of 4,100, followed by Orlando at 3,600.
The same report shared details about the “outbound” metros, or spots where people are trying to move away from. In a similar way, the total was determined by taking the number of people hoping to leave and subtracting the number of searchers interested in moving there. Los Angeles was the “winner” here, with a net outflow score of 26,900. The other high-ranking metros were San Francisco (25,900), New York (24,900), Seattle (16,700), and Washington, DC (13,000).
The housing market is in a state of flux, but people are setting their sights on one place in particular: Sacramento. A recent report by Redfin found that California’s capital was the most searched for destination for homebuyers planning to move between October 2023 and December 2023.
Redfin’s migration analysis was developed from the search results of about two million Redfin.com users who looked at homes in more than 100 metro areas across the United States. The “inbound” data was calculated by adding the number of home searchers looking to relocate there, minus the number of searchers planning to leave. Sacramento’s score was 5,400, making it a standout among the other competitive metro areas rounding out the top five. Las Vegas tied with two Florida metros (Cape Coral and Sarasota) for the second position with a score of 4,100, followed by Orlando at 3,600.
The same report shared details about the “outbound” metros, or spots where people are trying to move away from. In a similar way, the total was determined by taking the number of people hoping to leave and subtracting the number of searchers interested in moving there. Los Angeles was the “winner” here, with a net outflow score of 26,900. The other high-ranking metros were San Francisco (25,900), New York (24,900), Seattle (16,700), and Washington, DC (13,000).
How to Paint a Wall with LimewashAdd richness, depth, and dimension to a room with this limewash wall paint technique.0 seconds of 55 secondsVolume 0%
Compared to all other states, California was the place where most people considered leaving. More than 46,000 California residents searched for metros outside of the state. This also comes at a time when California home prices increased by 7.4 percent year-over-year in December, and the number of homes sold dropped by 6.1 percent.
The low housing inventory and high interest rates are making it difficult to become a homeowner these days. To help make yourself the best possible candidate for home ownership, check out the top tips and tricks from real estate experts.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
Stocks closed higher on the first trading day of 2022, with both the Dow and the S&P 500 hitting record closes. Apple and Tesla created momentum, with the tech giant hitting a $3 trillion market cap, and the EV maker reporting over 300,000 deliveries in the fourth quarter of 2021. Investors are taking an optimistic approach to start the year even as COVID-19 continues to linger and omicron cases soar. Rebecca Walser, President at Walser Wealth Management, joins Cheddar News' Closing Bell to discuss today's market movement, her broad predictions for the year, and more.
As cell carriers AT&T and Verizon planned to roll out nationwide 5G service this week, the FAA and U.S. DOT are asking the companies to pause their plans so more research can be done on the impact 5G has on aircraft technology. The companies are refusing, citing French regulations that limit wireless signals around airports while allowing research to continue. This week's launch wasn't the first time concerns have delayed 5G — last year, Airbus and Boeing express concerns, pushing the deadline into November, December, and then into this year. So what happens now — and what happens next? Will 5G roll out this year as expected? Jon Swartz, Senior Reporter at MarketWatch, joins Cheddar News' Closing Bell to discuss the state of the planned 5G rollout, why the FAA and U.S. Department of Transportation are asking carriers to stall the launch, and more.
Tyrone Ross, CEO of Onramp Invest, joins Cheddar News' Closing Bell, where he explains why he believes the current crypto slump is expected to persist and says that investors should be focusing more on Bitcoin's hashrate when it comes to metrics.
As the COVID-19 omicron variant continues to spread, thousands of flights have been canceled, restaurants and bars have been forced to re-adapt to outdoor and take-out dining, and consumers are canceling their travel and other plans. This all comes as the CDC recently updated its quarantine guidelines for people who test positive, slashing the isolation period from 10 days to five. That change was pushed by the airline industry as it continues to struggle with labor shortages. How will the variant continue to impact businesses large and small? Laura Reathaford, Partner at Lathrop GPM, and Tom Sacco, CEO, President, and Chief Happiness Officer of Iowa-based Happy Joe's Pizza and Ice Cream, join Cheddar News' Closing Bell to discuss employment law issues related to worker safety during COVID-19 outbreaks, and how small businesses are dealing with the latest wave, respectively.
