Bay Area exodus: Wealthy resident departures worsen ‘doom loop’ fears

Bay Area exodus: Wealthy resident departures worsen ‘doom loop’ fears

a year ago
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https://www.siliconvalley.com/2023/04/13/bay-area-exodus-wealthy-resident-departures-worsen-doom-loop-fears/

Wealthier residents, liberated from the office by remote work, are leaving the Bay Area at a higher rate than before the pandemic — a trend that could exacerbate a dreaded economic “doom loop” for the region’s slowly recovering job centers and downtown cores.

In 2021, households earning more than $150,000 made up 32% of all those moving out of the nine-county Bay Area, up from 27.6% in 2019, according to a new analysis of census data by the Bay Area Council Economic Institute.

Bay Area exodus: Wealthy resident departures worsen ‘doom loop’ fears

Apr 13, 2023, 1:40pm UTC
https://www.siliconvalley.com/2023/04/13/bay-area-exodus-wealthy-resident-departures-worsen-doom-loop-fears/ > Wealthier residents, liberated from the office by remote work, are leaving the Bay Area at a higher rate than before the pandemic — a trend that could exacerbate a dreaded economic “doom loop” for the region’s slowly recovering job centers and downtown cores. > In 2021, households earning more than $150,000 made up 32% of all those moving out of the nine-county Bay Area, up from 27.6% in 2019, according to a new analysis of census data by the Bay Area Council Economic Institute.