
San Francisco Bay Area Experiences Mass Exodus of Residents - SemiEarlyGoogle
http://sanfrancisco.cbslocal.com/2018/02/08/san-francisco-bay-area-mass-exodus-residents/
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gobengo
Lots of folks (me) who moved here 7-10 years ago seeking prosperity after
recession succeeded.

Those people (me) were often young, prioritizing living in a city, going to
work a lot, don't min renting bc couldn't afford a house anyway, even in
Tennessee.

Now they (me) have different priorities, say, having kids, working on
something more meaningful, or just working less. And that's often quite hard
to do in SFBA.

But for less than than the down payment on a 2BR apartment in the bay area
(often much less), you can buy a house elsewhere. I grew up in Topeka, Kansas.
Houses there can be like 20k. 3-4BR ones for 100k. You (I) don't want to live
there, lol. But even Kansas City has 2-3BRs for 150k. You can leverage 'middle
class' SFBA wealth into cash flow through things like real-estate investing,
but good luck doing that happily while at a 40-70hr/wk job at a startup.

Also this person is retiring. If you plan your retirement with the traditional
'spend 4% of your net worth per year and you can go forever', you will be able
to do that in an average-growth place, but not somewhere with cost of living
increasing this much faster than a place like TN.

My biggest piece of advice to myself back then would be: Get a rent-controlled
apartment in a neighborhood you wouldn't mind living in for 10yrs. Market
price rents have doubled or more since 2010, and during the same amount of
time (if you're young), your salary could at least double. During a period of
growth like the last decade, the rent-control alone can save you enough money
to buy a modest home in most parts of the country, let alone the rest of the
world.

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dangrover
There do not seem to be any actual facts cited, only an anecdote from one
person who is leaving. What is the rate of people leaving now, and what was it
before?

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realPubkey
What is wrong with US websites? Why do they destroy the credibility of an
article with 50 clickbaits placed arround it?

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closeparen
Desperation. The news business is barely staying afloat after losing its
position as the best/only advertising delivery channel.

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Apocryphon
In times like these, the medium really is the message.

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pascalxus
I'm just surprised this didn't happen sooner. The housing disaster that is the
bay area has been around for quite some time. Of course, now is worst, bust
still.

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Powerofmene
I wonder what is going to happen in 10years to SF if the housing prices
continue to rise? If the housing market is out of reach for the “tech elite”
then tech companies will not be able to continue to thrive without workers to
fill vacancies or fill the positions in new companies.

Tennessee is a great choice for a new home. The healthcare industry is the
main driver of fantastic opportunities for those with superior computer
skills. TN has no income tax, homes are very affordable here, etc.

We are not in the healthcare industry but we will be hiring several employees
soon including a CTO and we do not expect any difficulties in finding people
to work in our Nashville or Chattanooga location. With a number of colleges
and universities here, opportunities seem plentiful for those wanting to teach
in these areas as well.

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StudentStuff
Sure, but who wants to live in Tennessee? No weed, your in the middle of the
opioid crisis, the cops and prosecutors are known to be crooked,
infrastructure like Internet is chronically crappy (say hello to Charter
Spectrum!) and the school situation is poor.

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toomuchtodo
Chattanooga has gigabit municipal fiber and is a lovely place to live.
Nashville is very nice also.

I can’t imagine living in the Bay Area and having any chance of owning a home,
seeing abject poverty throughout SF, and unrealistic tech employer work
expectations (50-70 hr work weeks).

Tennessee, in comparison, sounds straight up delightful.

