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San Francisco is losing more residents

San Francisco is losing more residents

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.
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