| > The misconception is that people are leaving because the housing is too expensive and its not worth it anymore. Almost everybody I know that moved out had no problem affording housing (high earners / home owners / rent controlled). People are leaving because quality of life has fallen dramatically and the only thing keeping people in SF was their offices. Whether something is too expensive is not just a function of whether you can afford it. It’s a question of whether it’s worth it at the price being offered. You make make that same conflicting point. The affluent would simply be first movers in this type of situation as many do not need to time their exits with their leases ending. The cash poor, yet high income tech workers will be the next mass exodus. If you think SF is a shell of a city now, just wait till 6 months from now. |
If you consider a post-covid world 5 years from now, do you think that SF with it's museums, bars, restaurants, and proximity to nature will be an unattractive place to live?
Do you think that remote-first/remote-only companies where the majority of employees are outside of the bay area will be as competitive with startups which follow a more traditional model in silicon valley?
Both are things I wouldn't bet on. This is a blip. It could be a major blip, but it's a blip nonetheless and those who are betting in the complete other direction are likely to get burned.