Report: More people leaving Silicon Valley than coming in

The “out-migration” in the Valley was greater in 2016 than in any other year since 2006, the report notes, with about 20,000 people departing for other parts of the state and country last year. This is a sharp break from just three years ago, when the region was showing more people coming in from other parts of the country than leaving. And birth rates in Silicon Valley have declined by 13 percent since 2008 (in California at large the drop was even more significant at 14 percent), dropping to their lowest levels since the mid-1980s.

And while population continues to grow, the rate slowed markedly last year. From 2010 to 2015, Silicon Valley had experienced population growth of about 34,000 per year. Between July 2015 and July 2016, it slowed to a gain of 19,000, according to the Index. With more people leaving the Valley than coming in, the growth was almost entirely due to natural growth (births minus deaths), according to the Index.

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Well, you knew eventually the high cost of living around these parts would make some folks leave. Oh well. As long as SV is able to recreate itself (as it has over the years) and pretty much stay not only relevant but cutting edge we should be good. This is a great place to live, period.

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The obvious solution is to expand Silicon Valley out to East Bay. A big chunk of land between 880 and 680 from Oakland down to Fremont is still kinda affordable. Houses still sell for around 500K in San Leandro for example. Sure, schools are not as good but we need to start somewhere. That’s what gentrification is all about. We all need to rush out and buy everything we can in the East Bay…

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The article has a lot more data:

In that sense, the report is a tale of two regions. On one hand, Silicon Valley continues to experience job growth and a declining unemployment rate (which hit a low of 3.1 percent last May and stood at 3.3 percent in November). Since emerging from the Great Recession in 2010, the Valley has added 297,000 new jobs, including 45,621 in 2016. The number of tech jobs, which make up the largest share, increased by 5.2 percent last year.

While the sectors of biotech, internet and computer design enjoyed the most growth, they weren’t the only ones experiencing a boom. According to the report, the region added 6,864 new construction jobs and 6,829 new health care jobs. The Valley’s average annual earning reached its highest level to date last year ($125,580) and per capita income was also at an all-time high ($86,976). All these figures, the Index notes, “dwarf those of the state and the nation.”

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Widening inequality along education lines:

The report also indicates a growing gap between residents with graduate or professional degrees and those without them. While the median income for those on the highest strata of educational attainment went up by $3,578 between 2014 and 2015, it actually went down over the same period for those with lower levels of education. As a result, those at the highest tier earned about $86,000 more (or 4.8 times as much) as those at the bottom. This disparity is somewhat higher in Silicon Valley than in San Francisco (where the ratio is 4.5) and significantly higher than across the nation (3.2).

We have a lot of immigrants here:

Forty-six percent of the region’s employed residents are foreign-born, according to the Index. This includes 62.8 percent of the employers in “computer and mathematical” fields and 60.5 percent of those in “architectural and engineering.”

The numbers are particularly high when it comes to women who are between the ages of 25 and 44 years and who are employed in computer, mathematical, architectural and engineering occupations. About 76 percent of these women are foreign-born, according to the Index. Furthermore, the percentage of residents who speak a foreign language at home rose from 48 percent in 2005 to 51 percent in 2015 (in San Francisco it actually went down from 46 to 44 percent).

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I’ve pointed out the high income inequality before. It seems most don’t care as long as they’re on the side that’s getting richer.

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Why doesn’t Google just start a school district?

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There will be protesting and riot. Obama and Hillary will make strong criticisms on social justice harm

What problem does that solve? Houses are still crazy expensive compared to the rest of the USA, and engineers will spend hours commuting. The quality of life is gonna be crap compared to what you can get elsewhere.

I suspect the big players will continue their trend of ramping up in other locales. Denver continues to explode. What is next? SLC? KC?

The bay area is saturated. The insane exponential growth is over (thank goodness).

I didn’t know Obama and Hillary were republicans. And so Google.

I call it the sardine effect.

No, I don’t think it’s saturated at all. If more tech companies set up shop in Dublin and Pleasanton, people can commute from Tracy or even Stockton.

Manhattan workers do not live in Manhattan. BA needs to invest in public transit and 80% of workers should take train to work. Only the very rich can live close to work. Most worker bees should take 30 mins or more minutes commute.

SF and Oakland should be the job center. Charge a suburban job tax to encourage jobs to be located in urban centers. Use the climate tax as an excuse to force Silicon Valley companies to move to SF and Oakland. Tech companies love environment, use environmental cause to ask them to move and pay a climate tax gladly

BA housing price is still too cheap comparing with Manhattan. We should study how to Manhattanize the beautiful BA. :grin:

And Caltrain electrification is getting killed by Trump. Yes, we need all the public transit projects we can get. 101 is already over capacity.

The Bay Area isn’t designed right for it. It’s more a collection of strip malls than the high density that makes public transportation viable.

That ship has sailed. Even if the BA starts doubling down on transit today, it will take decades to roll out. Maybe Des Moines will be the new SV by that time? :slight_smile:

Don’t sweat over a mere 600M. If you take a walk in SF or SV, you might bump into more than 1 person who’s worth more than that. We Calofornia has bunch of money and who cares about his

When it’s needed absolutely, we can build high rise or low rise condos as well.

But the current worry is about deportation induced steep rent reduction, traffic should be better with the steep rent reduction as well

More of the doom and gloom about our golden goose…

Leave SV for Austin? Good, buy Austin.