Silicon Valley Is Seeing Its Population Drop By Over 35,000!
Highest Since 1990 – At Least.
I could not find numbers older than 1990, but over the last 3 years we have seen a net loss of residents in Silicon Valley.
Should We Care?
You bet! The population is a direct link to housing demand. So whether you are a buyer, seller or landlord, knowing the trends on whether the population in your area is increasing or decreasing can be critical.
How will this effect the Silicon Valley real estate market?
This is a little tougher to call. While it would likely reduce demand, we should also assume that some of the folks leaving own a home they will need to sell. It really depends on which group is more represented in those that are leaving.
Sources
- https://www.siliconvalley.com/2022/10/02/bay-area-exodus-residents-still-want-out-new-poll-finds/
- https://www.marketwatch.com/story/silicon-valleys-population-shrank-in-2021-unlike-any-time-since-the-dot-com-bust-but-it-wasnt-just-because-people-left-11645142270
- https://www.forbes.com/home-improvement/features/states-move-to-from/
- https://www.bizjournals.com/austin/news/2022/12/07/oracle-to-sell-california-real-estate.html
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