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If people are fleeing the Bay Area for cheaper housing, why is it still so costly?
San Francisco Chronicle ^ | May 5, 2018 | Kathleen Pender

Posted on 05/06/2018 11:09:27 AM PDT by artichokegrower

So which is it: Are people fleeing California and the Bay Area for cheaper housing, or swarming here for high-paying jobs?

The answer is: both. A flurry of recent population reports have painted a confusing picture.

(Excerpt) Read more at sfgate.com ...


TOPICS: Culture/Society; US: California
KEYWORDS: california; realestatebubble; realestatecrash; sanfrancisco
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To: artichokegrower

Because that’s the way progressives want it.


41 posted on 05/06/2018 3:37:25 PM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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To: artichokegrower

My sister bought a home in San Jose in 1974 for $50,000, she just sold it for $ 1,375,000.


42 posted on 05/06/2018 4:19:35 PM PDT by heights
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To: artichokegrower

It is the number of fools per square mile that causes those sort of things “out there”.


43 posted on 05/06/2018 5:35:53 PM PDT by GingisK
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To: Dilbert San Diego
For those prices I can see relocating to a cheaper area.

It's a mixed bag, pros and cons. Once you move away, it becomes extremely hard to come back. We stuck around because of family, and the need to take care of elders and doing babysitting. Our property continually rose in value, which we own free and clear. If we were to move to another area, there would be a reset of property taxes.

Some of our siblings moved away from the city to get cheaper housing, but so did criminals and gangs and the cheaper locations are not ideal for living - but they can't come back because the prices here rise faster and higher than where they moved. Our oldest daughter moved to Iowa. She and her family will be visiting us this month and staying at our home while they visit friends - hotels and rentals are too expensive. Des Moines property is a fifth or less of property costs here, and is nice and safe. Other locations in the SF East Bay that are cheaper, are not so nice or safe.

44 posted on 05/06/2018 6:05:14 PM PDT by roadcat
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To: artichokegrower

H1B Visa immigration is up; illegal alien invasion is up.

Native conservative emigration is up.


45 posted on 05/06/2018 6:13:22 PM PDT by YogicCowboy ("I am not entirely on anyone's side, because no one is entirely on mine." - J. R. R. Tolkien)
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To: Zhang Fei
The question is how much of this is the result of the Dotcom 2.0 stock bubble. If this bursts, what happens to SF?

Who knows. After the stock market crashed in 2008, it was business as usual in SF and the market rebounded to newer heights. SF does not rely on the stock market for it's existence.

Ever hear the saying "don't put all your eggs in one basket"? The economy is diverse here. It's not just computer tech. There is finance & banking, medical tech, shipping, manufacturing, educational institutions, robotics, etc. on and on. Any one of them fails, the others will keep the economy going. One of the biggest growing areas here is medical biotech. Whole neighborhoods have been created around new biotech centers. So it doesn't look like the economy shows any signs of slowing here. That's one of the main reasons for an influx of tech talent coming here (as well as homeless and illegals looking for a free ride).

46 posted on 05/06/2018 6:26:06 PM PDT by roadcat
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To: heights
My sister bought a home in San Jose in 1974 for $50,000, she just sold it for $ 1,375,000.

Congrats to your sister on her investment paying off! That has got to be a nice house, as $50G in 1974 was a lot to pay back then. I remember houses were about half that back then. One of my sisters sold her San Jose home in the 1980s before the huge increase in prices, and missed out on the profits people are getting now. Timing was good for your sister.

47 posted on 05/06/2018 6:34:04 PM PDT by roadcat
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To: GOP Poet

Thanks. Yes it does.


48 posted on 05/06/2018 8:05:12 PM PDT by DoughtyOne (01/26/18 DJIA 30 stocks $26,616.71 48.794% > open 11/07/16 215.71 from 50% increase 1.2183 yrs..)
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To: ifinnegan

Even if they never intend to use the house/property. wealthy ChiComs need a place to park their US dollars (safely out of the hands of their own government). This is a result of our trade imbalance for the last several decades; as US dollars flowed to Red China, those collecting it had nothing to spend it on over there.

Arabs are doing the same with petrodollars, buying Western sports franchises (and the 2022 World Cup, apparently).


49 posted on 05/07/2018 3:35:10 AM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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To: All

Higher housing prices mean less dark-people.....Leftists are racist apparently.


50 posted on 05/07/2018 4:26:09 AM PDT by Maverick68
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