Americans on the Move to Get Away from High Costs of Living

According to CNN.com, many residents of high-priced housing markets around the country are moving to more affordable areas. According to the article, the number one reason that people are leaving their homes is the high cost of living, with the number one area needing improvement being housing affordability. For example, California suffers a net loss of about 100,000 residents a year to other states. In recent years, many of these people have moved to nearby states like Oregon and Washington. However, prices have now climbed in those states as well, which is causing Californians to turn to the Midwest, where houses are available for half the cost of similar space in Los Angeles.

What will this do to housing in California? In the Midwest? What is the potential problem with this migration to the Midwest?