Some readers may be surprised to learn that I actually like San Francisco. I’ve spent a fair amount of time there. I have a reasonably good sense of the city and spent many enjoyable hours walking its streets.
But if I had seen the appreciation in prices that many people in San Francisco have enjoyed in the prices of their homes I’d have to consider seriously whether now was the time to leave.
Of course it’s a tough decision. Most people come to San Francisco because it is a weird little island. (Figuratively speaking. Yes, it’s a peninsula.) So hopping off the island into reality is not an easy call.
Still, California is in trouble and taxes are only going to go up. For some, the fabulously wealthy, that won’t matter. They have ways of getting around the taxation crush. But for the merely wealthy, those who must domicile in California, the equation is different. With a pile of cash on the table (But for how long?) a less expensive home someplace else might be a very good call. (But “someplace” will almost assuredly be less weird.)
(From CBS San Fransisco)
The number of people packing up and moving out of the Bay Area just hit its highest level in more than a decade.
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.
The retired engineer’s packing up and calling it quits about to move to the state of Tennessee.
“I loved it here when I first got here. I really loved it here. But it’s just not the same,” Dabak said.
Of course people come and go from the Bay Area all the time, but for the first time in a long time, more people are leaving the Bay Area than are coming in. And the number one place in the country for out-migration is now, right here.