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The difference being that the FAANG-type companies don't pay well enough to make up for the cost of living. Senior engineers seldom want to live in tiny apartments. See if you can prove me wrong: find a 10-acre lot within a half hour commute, with a large single-family home, that is affordable to a senior engineer. Alternately, make it 1 acre, but within a 5-minute commute. |
I work in SF and most of the people here are here specifically because they DONT want to live on ten acres in some rural place, they love that the city is walkable and dense and interesting.
For most folks the issue of living in condos or apartments it’s an issue at all until they reach a certain family size. At that point, most of the people in the city would be thrilled to live in a 3-4 bedroom townhome in the city — but THAT is where SF gets really difficult, because those cost $4 million or more these days.
Actually for many people they feel trapped because they’d like a LITTLE more space, ie. the Victorian townhome, but they specifically DO NOT want a car or a yard and do not want to leave the historic, walkable city. At that point you’re really screwed because outside of SF there is basically nothing else walkable west of the Mississippi. So there’s nowhere to go.
If somehow magically you could build a 1900s Victorian townhome city about 30’ away by train I think you’d find a couple million urban Californians wanted to move there.
But of course the sprawl all around the job centers, and the regulatory environment, both make that impossible.
Oh well.