Downside of housing prices

The Golden State may be losing some of its luster for residents, given the surprising number of Californians who say that the cost of housing could drive them away, according to a new survey by the Public Policy Institute of California in collaboration with the Hewlett, Irvine and Packard foundations.

While 41% of the 2,502 respondents said they viewed increasing home values in their region as a positive development, 49% said they were a bad thing for them and their families.

Long term, they worry that the recent run-up in prices will make it difficult for young members of their families to be able to afford a home in their part of California.

One in three said, however, that their more immediate concern is the strain on their households today.

About a quarter of residents said the rising housing costs are making them seriously consider moving to another part of California or out of state.