I wonder how this will affect housing prices in the rest of the states. The bay area has a lot of people, if half of them migrate that's bound to have an effect.
Most American cities are only slightly behind Bay Area cities in the housing crisis process and small disturbances radically upset their housing markets. Market rents in Austin almost doubled in the past year alone. If you're leaving SV for lower housing prices you might be surprised.
This is true. I make $150k a year and Boston area rent prices + cost-of-living makes me live close to paycheck-to-paycheck. (I'm not there, but I can save very little even though I try to live frugally, prices are insane!). I simply cannot comprehend how low income people live in major American cities, you'd have to live with many roommates and be very food insecure! Life is hard in the US [1] right now!
[1] In the cities. I'm guessing life in suburbia/rural towns is easier. I lived in a major city my entire life, and living in rural parts of the country not worth it unfortunately. It's my own personal decision, I understand that it comes with significant trade-offs.
The Austin housing market is insane. And with Texas getting a large chunk of their income from property taxes, there's going to be some very major effects when everyone's homes start getting reappraised for tax reasons.
Housing prices have risen everywhere, but they are still dramatically cheaper than SF or even Austin. The average home price in the US is more than 1/2 that of SF. Big cities in Texas are typically cheaper than Austin (Houston and San Antonio averages are around $350k).
If you restrict yourself to specific "tech lifestyle" cities obviously that's a different story.
Yes, houses in nice areas with desirable amenities tend to be expensive, because (no surprise) demand to live there is high. Most of these areas also have the common problem of local government that is very heavy-handed in the zoning in permitting of new housing construction.
Moving from California put a tremendous amount of pressure on the housing prices in Denver. And then Salt Lake when Denver got too expensive. And then Boise when Salt Lake got too expensive. And then Spokane when Boise got too expensive.
We're literally running out of cities in the west.
How about build some new cities that allow high density and public transit? I swear Americans always think they could never survive without free parking. You are absolutely not running out of land out west.
jeffbee|3 years ago
gnulinux|3 years ago
[1] In the cities. I'm guessing life in suburbia/rural towns is easier. I lived in a major city my entire life, and living in rural parts of the country not worth it unfortunately. It's my own personal decision, I understand that it comes with significant trade-offs.
digdugdirk|3 years ago
bdcravens|3 years ago
If you restrict yourself to specific "tech lifestyle" cities obviously that's a different story.
lotsofpulp|3 years ago
https://cdn.nar.realtor/sites/default/files/documents/metro-...
jimt1234|3 years ago
SoftTalker|3 years ago
Fomite|3 years ago
We're literally running out of cities in the west.
dougmwne|3 years ago