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by reaperducer
2136 days ago
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The misconception is that people are leaving because the housing is too expensive and its not worth it anymore... People are leaving because quality of life has fallen dramatically Aren't these two sides of the same coin? Very few people base their housing choices on cost alone. Other livability factors play a huge role. That's why real estate developers put amenities in their apartment buildings, and fight over location: Because people are willing to pay more in rent if the livability is higher than a cheaper alternative. |
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My point was about the other group that is leaving: more established professionals / homeowners / parents. For that group, saving on housing in the short terms isn't actually a major factor. Many are likely moving to other expensive places. The main thing keeping them in SF was their offices, professional network, or their children. In other words they were in SF despite the declining quality of life. With those constraints gone, they are leavings en mass as well.