Yes, people are leaving the Bay Area. But apparently not the people who hold tech and professional jobs. The San Francisco Chronicle reports:
If you look just at domestic migration — people moving around the country — the Bay Area lost about 46,000 people more than it gained during the year that ended July 1, according to U.S. Census Bureau estimates released March 22. That net loss was nearly twice as big as the previous year and marked a turnaround from earlier years, when more people were coming to the Bay Area than leaving.
The national media pounced on this data — throw in some one-way U-Haul prices and dubious survey results — and declared that the Bay Area is losing its appeal, and fast. “They made it sound like the highways are jammed with people trying to get out of the Bay Area right now,” said Patrick Carlisle, chief market analyst with Paragon Real Estate Group. He summarized the coverage in a report, “Will the Last One Leaving Please Turn Out the Lights?”
So if people are leaving the Bay Area in droves, why are home prices still soaring and why aren’t there more houses for sale?
Click through to see where they are moving.
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