Twisted Titan
10th February 2018, 12:19 AM
Not good news ...........its like the T virus is spreading
"It's Just Not The Same" - People Are Fleeing The Bay Area At The Fastest Rate In Years
https://www.zerohedge.com/sites/default/files/styles/thumbnail/public/pictures/picture-5.jpg?itok=LY4e264- (https://www.zerohedge.com/users/tyler-durden)
As the avalanche of tech money dramatically inflates the value of even sub-par housing stock (https://www.zerohedge.com/news/2017-10-23/more-real-estate-insanity-owner-asking-800000-burned-out-san-francisco-home) - and the state's Democratic political hegemony has seven some Republicans in the state's more rural counties rooting for a breakup - residents of the Bay Area are taking off for more affordable areas where they can more comfortably mesh with the local culture.
As CBS (http://sanfrancisco.cbslocal.com/2018/02/08/san-francisco-bay-area-mass-exodus-residents/) San Francisco reported, the number of people packing up and leaving the Bay Area has reached its highest level in more than a decade. And fo the first time in ages, the number of people leaving are outnumbering the people coming in.
https://www.zerohedge.com/sites/default/files/inline-images/2018.02.09bayarea.JPG
The exodus has gotten so severe, that a San Jose-based U-Haul company business says one of the biggest problems is getting its rental moving vans back because so many are on a one-way ticket out of town.
Carole Dabak spent 40 years living in San Jose and now she’s part of the mass exodus that is showing no signs of slowing down.
"I loved it here when I first got here. I really loved it here. But it's just not the same," Dabak said.
...
Dabak cites crowding, crime and politics as the reasons for her own exodus.
“We don’t like it here anymore. You know, we don’t like this sanctuary state status and just the politics,” she said.
Another departing resident, Russell Hancock who works with Joint Ventures Silicon Valley (JVSV), said even professionals can't afford a home in the Bay Area - let alone service workers.
“You can’t even contemplate getting into the housing market here,” Hancock said. “And I don’t mean just service workers, but highly skilled professionals. The tech elite are having a hard time affording reasonable housing in Silicon Valley. That makes it difficult for employers to recruit.”
JVSV's own study of the out-migration says workers are moving to Sacramento, Austin, and Portland for a number of reasons. But the number one reason is the lack of housing.
"You can’t even contemplate getting into the housing market here," Hancock said. "And I don’t mean just service workers, but highly skilled professionals. The tech elite are having a hard time affording reasonable housing in Silicon Valley. That makes it difficult for employers to recruit."
One woman who spoke with CBS says she plans to sell her home for about $1 million, buy a much larger place near Nashville for less than half the price, and live closer to family and friends.
Of course, in a city where couples making $138,000 (https://www.zerohedge.com/news/2017-07-13/only-san-francisco-couples-making-138k-year-now-qualify-subsidized-affordable-housin?items_per_page=75&sort_by=thread&sort_order=ASC&page=0%2C0%2C0%2C0%2C0%2C0%2C0%2C0%2C1) qualify for subsidized "affordable housing" - and are willing to attend countless meetings and wait hours in line to enter their names into lotteries with little chance of success - none of this should be surprising.
"It's Just Not The Same" - People Are Fleeing The Bay Area At The Fastest Rate In Years
https://www.zerohedge.com/sites/default/files/styles/thumbnail/public/pictures/picture-5.jpg?itok=LY4e264- (https://www.zerohedge.com/users/tyler-durden)
As the avalanche of tech money dramatically inflates the value of even sub-par housing stock (https://www.zerohedge.com/news/2017-10-23/more-real-estate-insanity-owner-asking-800000-burned-out-san-francisco-home) - and the state's Democratic political hegemony has seven some Republicans in the state's more rural counties rooting for a breakup - residents of the Bay Area are taking off for more affordable areas where they can more comfortably mesh with the local culture.
As CBS (http://sanfrancisco.cbslocal.com/2018/02/08/san-francisco-bay-area-mass-exodus-residents/) San Francisco reported, the number of people packing up and leaving the Bay Area has reached its highest level in more than a decade. And fo the first time in ages, the number of people leaving are outnumbering the people coming in.
https://www.zerohedge.com/sites/default/files/inline-images/2018.02.09bayarea.JPG
The exodus has gotten so severe, that a San Jose-based U-Haul company business says one of the biggest problems is getting its rental moving vans back because so many are on a one-way ticket out of town.
Carole Dabak spent 40 years living in San Jose and now she’s part of the mass exodus that is showing no signs of slowing down.
"I loved it here when I first got here. I really loved it here. But it's just not the same," Dabak said.
...
Dabak cites crowding, crime and politics as the reasons for her own exodus.
“We don’t like it here anymore. You know, we don’t like this sanctuary state status and just the politics,” she said.
Another departing resident, Russell Hancock who works with Joint Ventures Silicon Valley (JVSV), said even professionals can't afford a home in the Bay Area - let alone service workers.
“You can’t even contemplate getting into the housing market here,” Hancock said. “And I don’t mean just service workers, but highly skilled professionals. The tech elite are having a hard time affording reasonable housing in Silicon Valley. That makes it difficult for employers to recruit.”
JVSV's own study of the out-migration says workers are moving to Sacramento, Austin, and Portland for a number of reasons. But the number one reason is the lack of housing.
"You can’t even contemplate getting into the housing market here," Hancock said. "And I don’t mean just service workers, but highly skilled professionals. The tech elite are having a hard time affording reasonable housing in Silicon Valley. That makes it difficult for employers to recruit."
One woman who spoke with CBS says she plans to sell her home for about $1 million, buy a much larger place near Nashville for less than half the price, and live closer to family and friends.
Of course, in a city where couples making $138,000 (https://www.zerohedge.com/news/2017-07-13/only-san-francisco-couples-making-138k-year-now-qualify-subsidized-affordable-housin?items_per_page=75&sort_by=thread&sort_order=ASC&page=0%2C0%2C0%2C0%2C0%2C0%2C0%2C0%2C1) qualify for subsidized "affordable housing" - and are willing to attend countless meetings and wait hours in line to enter their names into lotteries with little chance of success - none of this should be surprising.