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"It's Just Too Expensive" - Almost Half Bay Area Residents Want Out


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2018 Jun 7, 5:35pm   1,979 views  10 comments

by Patrick   ➕follow (55)   💰tip   ignore  

https://www.zerohedge.com/news/2018-06-06/its-just-too-expensive-almost-half-bay-area-residents-want-out

Reports of an 'exodus' from California are no longer click-bait headlines, but the very real life-affecting decisions sending the 'great middle-class' anywhere but 'here' are becoming more vivid every month.

The latest example of widespread pain comes from the San Francisco Bay Area where a poll released this week by a local advocacy group showed that 46 percent of Bay Area residents surveyed said they want to move out of the area within the next few years. That number is up from 34 percent in 2016 and 40 percent last year in the same poll.

As SacBee's Michael McGough reports, the reason for the urge to leave might be pretty obvious, at least to anyone knowledgeable on California: It's just too expensive.

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1   Strategist   2018 Jun 7, 6:34pm  

Patrick says

As SacBee's Michael McGough reports, the reason for the urge to leave might be pretty obvious, at least to anyone knowledgeable on California: It's just too expensive.


High home prices are also dissuading many from moving to the BA/California even with good job offers. Two of my distant relatives decided to stay put in the East even though they had opportunities waiting for them. They decided it was just not worth it. High home prices, high taxes, etc.
2   Tenpoundbass   2018 Jun 7, 7:38pm  

how do they expect to move if people don't want to buy their pain?
RE crash would be their only way out at this point.
3   RWSGFY   2018 Jun 7, 7:46pm  

Patrick says
As SacBee's Michael McGough reports, the reason for the urge to leave might be pretty obvious, at least to anyone knowledgeable on California: It's just too expensive.


And yet the fucking morons go ahead and vote for $3 bridge toll increase. :facepalm:
4   Ceffer   2018 Jun 7, 7:57pm  

It used to be in the olden days when people moved away from California, it was always with the expectation that they would move back again if they could.

Now, when you talk to people who have moved away, they all say they wish they had done it sooner and will only come back to visit family and friends or for business.

A couple I know just moved to Albuquerque. She was raised there, but her husband (native Californian) was delighted with the home they could buy and the friends they have after only four months. A woman we know who moved to Nashville said the same, thing, she loved it, not for the weather, but for the people and the way she could live.

Another guy is selling his expensive home in a harbor community in SoCal, and buying two homes in North Carolina, one to be near children and another at the beach, with enough money left over to retire early.
5   lostand confused   2018 Jun 7, 8:11pm  

Yeah you sell a home for 1 million or more-that is a nice next egg.
6   Patrick   2018 Jun 7, 8:15pm  

I think most rich Californians are actually happy that they are driving out the middle class.

At least for now. They will have to pay extra for all services as more and more ordinary people leave.
7   clambo   2018 Jun 8, 9:19am  

I have a friend who got out. He sold his place in Berkeley for a lot of dough, retired and he's pulling an Airstream behind an SUV for fun.

Another friend was floating on the turquoise waters of S. Florida (78F) the other day and is considering selling his $1.2 million house and doing fishing, diving, and beach combing for a few decades.

Yet another friend has the fanciest house of the three and he said he wants to sell and move when it hits $2 million. His wife objects so he can't do anything he wants to do.

He wishes he could stop working and have a boat to go fishing which is his favorite past time. Of course with $2 million he could buy 1. a nice house near the coast 2. buy a boat 3. buy investments (high yield bonds, dividend stocks, fixed annuities, etc.) and even travel.

I have a brother in New York who can do the same thing but of course he has the same problem; his wife objects to the idea.

I find it fascinating that the women's magazines all talk about women achieving their dreams, while married women like to kill their husband's dreams.
8   Heraclitusstudent   2018 Jun 8, 11:25am  

46 percent want to leave, but how many will actually do it?
Golden cage!
9   HeadSet   2018 Jun 8, 2:33pm  

Another guy is selling his expensive home in a harbor community in SoCal, and buying two homes in North Carolina, one to be near children and another at the beach, with enough money left over to retire early.

As old Patnet poster DinOR used to say, "Equity Locust."
10   RC2006   2018 Jun 8, 3:31pm  

Even if the bay area wasn't so expensive it still has a lot of other issues that seem to be only getting worse.

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