I do not know why.
Most of the compaies, esp IT companies in bay area, hire from outside state. If they get 70k in their state, it may equal to 100k-120k depending on the location here. I have many out of state it people moving to bay area, then struggle to pay rent+tax with poor savings.
Low income people, whoever stayed here, unable to meet the cost of livings, rent, taxes (sales and income tax)…decided to move out eventually.
Charles Schwab will not be the first major financial services company to move out of CA. If I recall correctly, Wells Fargo and Bank of America were once headquartered in San Francisco.
My salary has quadrupled ever since I got the first job in SV.
I think majority of people coming to CA especially SV is people like me, who see the great opportunity to increase their income rather than people who already achieved high income somewhere else.
It is well known that people with high mobility can perform better from “increase in income” perspective than people who want to settle where they are regardless of job opportunities. That is why the second generation of immigrants earn more than natives from the families with the same income level. They take benefit from highly mobile parents.
People who are willing to adapt to new demands regardless of location or required skill set will perform well. I believe that is the strength of CA, especially Bay Area.
California, especially Bay Area, is for optimists. People come here from the world over to create their own future. 
Generally agree with what you said.
But, I found the above line a bit contradictory. You spoke of “strength of CA”, and then you also used phrase “regardless of location”. You seemed not sure whom to attribute your success: to CA, or to the person in you.
True.
I just want to highlight that CA especially BA attracts highly adaptive people regardless of challenges they face.
https://socketsite.com/archives/2019/11/bay-area-home-values-drop-despite-gains-nationwide.html
No wonder I don’t feel any attachments to SFBA. From a decent middle income salary to unemployed 
After I leave, CA should be more optimistic 
SV is not part of SF index 
So one can hope 
Can I coin a new word?
California Complex :
A state of mind driven by a belief that the people who live, work, or get attracted towards California possess some extraordinary capabilities not found among people elsewhere.
If you subsequently find that you don’t possess those capabilities, leave for Texas.
Joking aside, from where I come from SV* is THE place that value technical (software and hardware) professionals. Back home, sales/marketing/financial is value higher. Value is, of course, measured by $ and achievable hierarchical ranks.
*With the rise of other tech hubs, SV no longer monopolize, those places are still better than back home.
Again, wake me up when any other regions in the world have more venture funding than Bay Area. By definition that’s how the future is made, and it’s made right here.
If you were not an optimist Bay Area is a pretty difficult place for you.
Lets not make this a California vs Texas fight.
There are opportunities and talented people everywhere.
I think it is a matter of finding a fit between the skill we have and where the right jobs are. For example,
if you are into
Computer hardware/software - Bay Area
Bio tech - peninsula
investment banking /Finance…>New York is the place to be in.
If you are in film making ----->Hollywood,
news and media ----> New York,
Flying ----> Florida
Growing Corn – Iowa, Nebraska, etc.
Dairy Farming - Wisconsin.
Lumbering - Pacific northwest.
Fishing --> Seattle
Oil and drilling - Houston
Warren Buffet became a billionaire by staying in the middle of no where.
Yeah but there is only one warren buffet. His partner munger lives in California.
It’s like saying people should not go to college because Bill G and Mark Z quit school.
If a young ambitious person asked you where they should go to start their career, would anybody seriously suggest Nebraska?
Wow… I regret I posted my opinion here…
Just to defend myself, what I meant was “CA (Bay Area) is very friendly to new comers like immigrants and has high tolerance to people with various backgrounds”. I think this is very special benefit to immigrants like me. Anyway, I will stop posting in this thread.
Your critical thinking is not good. Go to college to gather your team but don’t bother to graduate.
There are many tech hubs that rival SFBA in specific areas.
Seattle is leading in ML/AI.
Many semi have moved to Austin.
Boston is good at robotics.
Austin is ideal for me because:
a. No state income tax.
b. Winter doesn’t have snow. I come from tropic so hot and humid is ok.
c. Have sufficiently large enough Asian presence.
Looks like low interest rates are not having a positive effect on the Bay Area RE.
The conforming limits for the loans purchased or acquired by the GSEs Fannie Mae and Freddie Mac during 2020 will increase to $510,400.
The conforming limit for 2019 is $484,350
Will this boost the Bay Area housing market?
Are you talking about getting a job or starting a business or the long term prospect of RE?
After FB, there are no new tech business that employ so many high paying employees.
IMHO, the rush to employ many employees by FB, GOOG and AAPL is the main driving force for RE appreciation since 2012. Their employee count in BARE has stabilized and they are expanding elsewhere. Some1 new and as large as them has to be here to drive RE prices higher. Those occasional successful unicorns make small bursts in certain neighborhood but can’t drive the prices of the entire BARE over a long period of time.
Bay Area limit is already higher than that.