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San Francisco Suffers Net Loss of People as Tech Booms



(p. A3) San Francisco is such a boomtown that people are leaving in droves.

In 2016 and 2017, more people moved out of the San Francisco-Oakland-Hayward metropolitan area--an urban core of 4.7 million people in a broader region known as the Bay Area--than moved into it from other parts of California or the U.S., according to U.S. census data.

In the year that ended July 1, the region showed a net loss of nearly 24,000 residents to the rest of the country, roughly double the loss of the previous year and a sharp reversal from net annual gains of about 15,000 as recently as 2013-14.

Economists said the outflow is being driven by the high cost of housing in the area, where the average home value in several counties surpasses $1 million.



For the full story, see:

Nour Malas and Paul Overberg. "'San Francisco's Boom Leads to an Exodus." The Wall Street Journal (Friday, March 23, 2018): A3.

(Note: the online version of the story has the date March 22, 2018, and has the title "San Francisco Has a People Problem.")






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