CA Exodus

[CaliKid]

Quote:

Originally Posted by Marita40 As we smugly say here in "flyover" Minnesota--a paradise from my point of view--the extreme cold keeps the riff raff out. Very few California expats here

LOL. No matter how many articles I hear about how great Minnesota is, and several friends that live there, I just can't imagine the cold. Love the Cali "winters" so here I pay to stay! Lots of people complain but around January it doesn't look so bad here!

[daylatedollarshort]

The next tech bust will likely help lower rents and home prices:

Tech Layoffs For 2016 Projected To Be Deep: What Happens To 260,000 Highly Skilled Professionals In Their 40s And 50s? | Inc.com

[Marita40]

Prince, the Purple One, stuck it out here. We are smugly proud of him for that.

[robnplunder]

Quote:

Originally Posted by daylatedollarshort The next tech bust will likely help lower rents and home prices: Tech Layoffs For 2016 Projected To Be Deep: What Happens To 260,000 Highly Skilled Professionals In Their 40s And 50s? | Inc.com

The article is not very convincing. I retired from one of the companies listed and I can tell you that the stated expected layoff from the company is simply improbable.

[daylatedollarshort]

Quote:

Originally Posted by robnplunder The article is not very convincing. I retired from one of the companies listed and I can tell you that the stated expected layoff from the company is simply improbable.

It would be nice if it is not that bad, but we do have kind of a boom and bust economy here, and it has been boom for quite some time now. It doesn't seem like the housing prices can keep going up continually at the current pace, and sooner or later the tech industry will have at least some kind of slow down.

[jfn111]

The last couple of winters here haven't been to bad. The dog would actually stay out in the backyard longer than 20 seconds.

[Surewhitey]

I've never seen so many CA car tags here in Dallas. Property near downtown, Park Cities and around White Rock Lake is going nuts.

[Geld ist Freiheit]

Quote:

Originally Posted by Surewhitey I've never seen so many CA car tags here in Dallas. Property near downtown, Park Cities and around White Rock Lake is going nuts.

State Farm built a large office building at 75 & Bush Turnpike for all the jobs coming from California.

A sign of things to come as more companies figure it out.




GiF

This is your life....and it's ending one minute at a time.

[scrinch]

DW and I are going to add 2 to the population of northern California when we retire in a month or so. We plan on living there the rest of our lives unless somehow all of our kids end up living near each other some other nice place. If that happens, I suppose we would consider moving to be close to them.

Of course, we have a paid off house with a $3k annual tax bill in the North Bay to lure us back.

[jabbahop]

Our original plan when we moved from Silicon Valley 12 years ago was to go back when we retired and the kids were out of the house. The crowds and prices have changed the plan but we are thinking that an Airbnb for a few weeks might be perfect. Enjoy the weather and connect with friends without the long term commitment and cost.


Sent from my iPad using Tapatalk

[Options]

San Francisco is the 6th most expensive city in the world. Los Angeles is the 10th. California is home to 17 of the 25 most expensive zip codes in the country. For anyone who bought property in the state a couple decades ago, the rise in values has been nothing short of stunning, while Proposition 13 kept their property taxes low.

https://www.weforum.org/agenda/2016/...ampaign=buffer

The most expensive US ZIP codes - Business Insider

The CA boom/bust economy has trended strongly upward for the past five decades, and this trend is only escalating. Those in their 40's/50's in tech who have not kept their skills up will be left behind. Period (I have relatives in the BA who are real life examples of this). We are in a winner takes all global economy. Get used to it. There will be no going back.

[BuysToys]

I find it interesting that the author seems to place all the blame on the Big Tech companies for the high cost of living in the SF area. I see it as a larger problem. When a major city encourages thousands of lower income people to become residents, rents at the low end are bound to rise due to demand. If lower rents increase, then mid-range rents as well as higher end will also increase. There will be a surge to move to the suburbs and those costs will increase. A larger low-income population will require additional services so property taxes and sales tax will increase.

I think this is an excellent example of unintended consequences of some of the policies San Francisco's leadership implemented.

[Gone4Good]

Quote:

Originally Posted by BuysToys I find it interesting that the author seems to place all the blame on the Big Tech companies for the high cost of living in the SF area. I see it as a larger problem. When a major city encourages thousands of lower income people to become residents, rents at the low end are bound to rise due to demand. If lower rents increase, then mid-range rents as well as higher end will also increase. There will be a surge to move to the suburbs and those costs will increase. A larger low-income population will require additional services so property taxes and sales tax will increase. I think this is an excellent example of unintended consequences of some of the policies San Francisco's leadership implemented.

[Another Reader]

The author is a young person with a very short memory. My father was born in the 1920's in Oakland. It was a quiet suburb of San Francisco back then, a ferry ride across the bay. My grandfather commuted by ferry to his accounting/controller job in San Francisco. The only non-white population then consisted of a few Asians, almost all Chinese and Japanese. Few black people if any. Not a lot of poverty, just a middle class suburb.

When WWII came along, wartime industrial job opportunities in the industrialized midwest and in the ship building industry along the coasts started the Great Migration from the south. Large numbers of blacks and whites with little opportunity at home moved for the jobs. When the war ended, the home building and auto industries ramped up. Plenty of work for all, but little integration of the races.

By the late 1960's, industrial employment started to decline in the Bay Area and elsewhere. GM in Fremont and Ford in Milpitas cut back and eventually closed. At the same time, black people began to feel a lot of discrimination and unemployment rose. Unemployment in the skilled and unskilled labor population overall rose significantly. Across the country, we had the riots in Detroit and Watts. In Oakland, we got the Black Panthers, and some notorious racially motivated murders. Not good for Oakland.

Oakland and the surrounding areas continued to decline, with fewer and fewer decent paying jobs for unskilled and industrial labor. There were a couple of mini-renaissances, but overall the trend was down. The internet boom of the late 90's was the predecessor of the current boom. In that boom, a lot of black people from the older generation sold their Oakland properties and moved to outer ring suburbs. Lots of complaining about gentrification then as well.

It appears that Oakland may gentrify to the point that it looks like San Francisco. Lots of high paid techies and wealthy residents and a legacy population of other folks. Well, that's the market. As long as there are more jobs and more money than there are housing units in San Francisco and the historically more popular areas of the Peninsula, the unaccommodated demand will shift to Oakland and other accessible East Bay suburbs.

Population shifts are going to happen because of market forces. It's the same here in Silicon Valley. White people are being displaced by high income and wealthy Asians and Indians. No cries of racism or income inequality down here. We adjust and move on, which is what the author of that article needs to do.

[fh2000]

For those of us who immigrated from Asia, California/New York/Houston may be the few choices we have. My house is paid for. Property tax is low thanks to Prop 13. So, we will stay put in SolCal.

I do worry about DD who graduates in June. Will she make it here?

[daylatedollarshort]

Quote:

Originally Posted by Another Reader Population shifts are going to happen because of market forces. It's the same here in Silicon Valley. White people are being displaced by high income and wealthy Asians and Indians. No cries of racism or income inequality down here. We adjust and move on, which is what the author of that article needs to do.

She also didn't have to move all the way to Portland for less expensive housing than Oakland. On bestplaces.net, Fairfield, CA has the same cost of living as Portland, OR.

[JoeWras]

Quote:

Originally Posted by robnplunder The article is not very convincing. I retired from one of the companies listed and I can tell you that the stated expected layoff from the company is simply improbable.

Agree. And I'm pretty much a pessimist on my Megacorp, but with the exception of one or two listed, these numbers are not likely.

[Options]

Quote:

Originally Posted by fh2000 For those of us who immigrated from Asia, California/New York/Houston may be the few choices we have. My house is paid for. Property tax is low thanks to Prop 13. So, we will stay put in SolCal. I do worry about DD who graduates in June. Will she make it here?

Los Angeles and San Diego are among the top ten U.S. cities that millenials are moving from. The San Francisco BA (to include San Jose), OTOH, seems to be holding its own in terms of not losing millenials (I would speculate this is probably because the well paying tech field skews to younger workers). Millenials are leaving many large cities in the U.S. as they find they can't afford it after moving there. I apologize but I can't find the link where I read this just this week.

[HillCountry]

Everybody seems to focus on the cost of living in California. For me, moving away from Bay Area is because I don’t want my daughters in the cut throat education system, especially college admission (to UC).


DW no longer has to work in software after we moved to Austin. She got to drive kids around during week days; where in BA, most the weekends are taken up by kids’ activities. Now, we can have all weekends off. Bonus, I come home around 5pm, to enjoy a great dinner prepared freshly by DW.

[daylatedollarshort]

Quote:

Originally Posted by HillCountry She got to drive kids around during week days; where in BA, most the weekends are taken up by kids’ activities. Now, we can have all weekends off.

Is that a cultural difference - like it is more common there to not have kids enrolled in competitive sports and 30 other different extra curricular activities? Okay, so maybe it wasn't actually 30 activities. It just felt like it. I really like having my weekends free now that our kids are grown up.