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That said, I’ve heard about this pattern for years. Is is a sustainable pattern? Are new eager engineers still pouring into California to keep the cycle going? If so, then it does not matter if a lot of 35-year-olds are leaving.
The reality is hiring for California companies takes place in many states. Intel will court several grads in say Ohio or Florida and hire to work in the NorthWest or other locations. So its not do you want to work in California.. its do you want to work for Intel, HP, Oracle ? But that can be anywhere in any state and often is. And many people are all to eager to work for a BlueChip regardless where it is. If your cool and hip, need not apply. They are not interested!
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This article states that "the cost of a home is about 19 months of total pay for an average family, the lowest level in 35 years"
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/04/investopedia51111.DTL#ixzz1Fx5C025C
In my neighborhood, 19 months total pay is about $158,000. The typical listing is closer to $1 million.
So, tell me again why the bay area is different. So different to justify prices at a factor of 6 or 8x the national fundamentals....