The 2020 San Francisco exodus is real, and historic, report shows
A new report confirms what many have been talking about for weeks: There is an exodus out of San Francisco, and the numbers are staggering.
Online real estate company Zillow released new statistics shining a stark light on the issue this week. Their "2020 Urban-Suburban Market Report" reveals that inventory has risen a whopping 96% year-on-year, as empty homes in the city flood the market like nowhere else in America.
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The astronomical cost of owning a home in the San Francisco city limits — which has been sky high for over a decade now, since the second tech boom — had to break at some point, and the coronavirus seems to be the straw that broke the camel's back. The pandemic soon led to tech giants like Google, Facebook and Twitter rethinking what work looks like, as many have allowed employees to work remotely for the foreseeable future, and maybe forever.
This, combined with the fact that most entertainment venues, eateries and bars in the city have closed, has given many residents — particularly tech employees and transplants — little reason to stay, when more spacious, literally greener pastures beckon in (relatively) less costly regions in California such as Lake Tahoe or Palm Springs.
https://www.sfgate.com/living-in-sf/article/2020-San-Francisco-exodus-is-real-and-historic-15484785.php
Real estate inventory change from February to July 2020, in metro area and city proper (Zillow):
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