Because the execs don't want to live in Sacramento, or they think their employees won't go with them or they won't be able to find suitable replacements. Mostly I think it's the first. The Bay Area is fucking beautiful and vibrant (in some areas) and Sacto just isn't.
-
-
Replying to @RedwoodGirl @DevinAvilla and
If your employer relocates to Sacramento and you follow & buy a house there, you're now stuck with that employer, can't easily switch to another job in the same industry if things go south & in a worse negotiating position even if things go well.
1 reply 0 retweets 2 likes -
Replying to @threestationsq @RedwoodGirl and
If you're married, your spouse may also have a harder time finding work in Sacramento.
1 reply 0 retweets 0 likes -
Replying to @threestationsq @RedwoodGirl and
Heck, this is why no one leaves Palo Alto. If everyone's renting an hour in every direction and you move 30 minutes north, then 2/3rds of your workforce has 90 minute commutes. Or you know, doesn't have 90 minute commutes because they quit.
1 reply 0 retweets 1 like -
Replying to @poiThePoi @threestationsq and
And what's going to kill them is that entry-level tech salaries are $100K, but $100K doesn't even buy you your own bedroom in SF and barely buys you one way out in the burbs.
1 reply 0 retweets 0 likes -
Replying to @poiThePoi @RedwoodGirl and
TBH $100k probably does still get you your own bedroom in SF (if you have $50k after tax you can pay $3000/month on rent and still have enough left over for other expenses), but you might still choose to share your room and spend the extra $1500/month on something you value more.
1 reply 0 retweets 0 likes -
Replying to @threestationsq @RedwoodGirl and
If you meet 60+-year-olds, quarantine like one Retweeted Kim-Mai Cutler
Yeah, that's probably fair. Though given that housing values are going up 33% YOY, that won't last. And then 20-somethings don't show up to work at Google in Mountain View anymore (much less startups) and Silicon Valley dies.https://twitter.com/kimmaicutler/status/989027205001891841 …
If you meet 60+-year-olds, quarantine like one added,
Kim-Mai CutlerVerified account @kimmaicutlerI mean, it’s like... I really don’t even know what to say when@CoreLogicInc is reporting that home prices went up by 33.6%, 25.7% and 23% in a **single year** in Santa Clara, San Mateo and Marin counties. https://www.sfchronicle.com/business/networth/article/Bay-Area-home-prices-surge-median-now-820-000-12860694.php … pic.twitter.com/h8ZFTNMDAg1 reply 0 retweets 0 likes -
Replying to @poiThePoi @RedwoodGirl and
I think rents aren't going up quite that fast, more like 10%? And tech salaries are going up too, though more slowly.
2 replies 0 retweets 0 likes -
Replying to @threestationsq @poiThePoi and
Rents are not going up as fast as home values. Home values in the South Bay are pretty decoupled from rents it feels like.
2 replies 0 retweets 0 likes -
Replying to @kimmaicutler @threestationsq and
My personal favorite is the $1.575 MM house in Mountain View that rented for $5000/month. Back in 2015. I'm not usually a fan of the "Crazy Chinese Investors" theory, but... WTF?
2 replies 0 retweets 0 likes
It’s probably still $5,000 but now the house is like $2M+
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.