San Francisco lost more residents than any other city in the US in the last quarter of 2017, according to data from real-estate site Redfin, which sampled a million users. The data factored in the number of residents that cities gained, meaning San Francisco lost a net 15,489 residents; about 24% more than the next-highest loser on the list, New York City.
This is expected to continue into 2018, considering that, as of February, 49% of Bay Area residents were looking to move out of San Francisco, according to a survey by public-relations firm Edelman.
- More residents are leaving San Francisco than any other US city, according to data from real-estate site Redfin.
- A growing number of those considering the move are Silicon Valley investors, The New York Times reports.
- The migration has become so intense that it’s creating a shortage of U-Haul vans and inflating prices so that it costs thousands to go from San Jose to Las Vegas — but only $100 to go in the opposite direction.
- Startup founders and venture capitalists have little reason to stay and invest in expensive real estate, especially since today’s technology makes working remotely so seamless.