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Silicon Valley will never be a wasteland, but if companies en masse adopt flexible and real work-from-home policies, many people will move out to less costly areas of the country where even a reduced salary will get one far more than they can get here.
Rents for a one-bedroom apartment dropped most in the cities richest in high-paying tech jobs, falling 9.2% in San Francisco compared with May of 2019.
I think you pipedreaming @richwiks. I dont like overinflated prices in Silicon valley (im renting) but imho the reason why Detroit collapsed is different then just cars boom over. In SV we had already few boom/bust cycles and its still alive and kicking. You have few major Universities around together with pleasant weather and it will keep on attracting workforce here and as result business
And if you’re a developer, why take a job in San Francisco, paying thousands in rent, dodging homeless poop
Yes, it has to be an "attractive" place to live. I agree that the San Fran Bay Area offers that with the weather, scenic geography, culture, higher education, and jobs
Her team knows all the same coding stuff as the Hipsters in the Bay Area. Because you don't need a lot of infrastructure to learn software. A couple of years ago she told me that her salary was about $200 per month.
Rents for a one-bedroom apartment dropped most in the cities richest in high-paying tech jobs, falling 9.2% in San Francisco compared with May of 2019. In Mountain View, home to Google, rents fell 15.9% year over year, while in Apple’s hometown of Cupertino rents dipped 14.3%, according to the rental search engine Zumper. In San Bruno, where YouTube has its offices, rents tumbled 14.9%.
“It’s a dramatic drop in San Francisco and the South Bay,” said Zumper CEO Anthemos Georgiades. “This is real. We have never seen anything like it.”
https://www.sfchronicle.com/business/article/San-Francisco-Silicon-Valley-rents-saw-sharp-15307118.php?cmpid=gsa-sfgate-result