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San Jose Mercury News: Report finds Bay Area residents leaving and looking for affordability
The heart of the nation's tech sector, the astronomically expensive Santa Clara County, leads the state in residents looking to move out of town, a new report found. Using property searches and census data, analysts at realtor.com found that a larger share of residents are leaving Santa Clara County - home to tech behemoths Google and Apple - than any other county in California. Nearby San Mateo County, where Facebook is headquartered, came in second, just ahead of Los Angeles County.
The Bay Area has long been a costly place to live, but a tight housing supply paired with an unprecedented economic boom pushed rents and real estate even further out of reach for all but the most affluent residents ... Instead of staying put, many Santa Clara County residents are decamping for Alameda, Sacramento, San Joaquin or Placer counties, looking at homes that are $509,000- $894,000 less than the Santa Clara median price of $1.28 million or leaving the state altogether and moving to Arizona, Nevada, Idaho or Texas for even better deals. Click here to read the full story. |
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