A new company is helping residents of the San Francisco Bay Area flee due to the rising cost of living.
Earlier this year, Scott Fuller founded Leaving The Bay Area – a company that helps homeowners move out of the Bay Area and find a new home elsewhere. The company consists of real estate professionals that will sell your home, help find a new one, and assist with the logistics of the move.
Surrounding West Coast states have seen a large influx of new residents escaping California’s extreme housing and living costs. A recent Bay Area Council survey found that 45 percent of Bay Area residents likely to move, would do so due to the high cost of living. About 8 percent said they would likely relocate to Nevada, while Texas was the most popular response at 10 percent. The median home price in San Francisco has risen to $858,800 – the second highest in the nation behind Manhattan.
The Bay Area has added over 100,000 jobs since 2010, but their housing sector has failed to keep up with this influx in new residents. Only 20,000 new homes have added in comparison to the 100,000 jobs. Thus, raising home prices and overcrowding cities. It is currently projected to take centuries for these cities to meet housing goals.
To read more regarding an interview with Leaving The Bay Area’s founder, Scott Fuller, check out the original article here.
Written by: Brooke Deneen
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