According to a recently taken study, the left-wing liberal city of San Francisco, California, is seeing its residents move at a record pace. Many of these residents seem to be migrating away to places such as Texas and Florida.
In data gathered by a commercial realty company CBRE and reported by Business Insider, San Francisco seems to have lost more residents between 2019 and 2020 than any other major city inside the United States. The study from CBRE has discovered that the number of those leaving San Francisco and headed to texas has jumped to about 32.1%, while those who made the longer journey to Florida spiked up by about 46.2%.
Keith Rabois, a unicorn investor, has made such a move and ended his trek in Miami. He maintained that the Bay Area is losing much of its lucrative tech talent, telling Business Insider that “many of the most ambitious people on the planet have lived here, but post-COVID, I think the concentration of talent has atrophied, perhaps permanently.”
However, most of those who left the sprawling San Francisco did not even leave the state but made their way north to settle in Sacramento. Business Insider made note, regarding the CBRE data, that the number of moves from San Francisco to Sacramento increased by a staggering 70% in 2020, which outpaces the number of people leaving for cities in other states like Tampa, San Antonio, and Austin.
“The pandemic came just as the bulk of the large and increasingly affluent millennial cohort had reached prime family formation age,” states the report. “Consequently, millennials had been trending toward more suburban residencies even before COVID-19 came on the scene.”
As a whole, California has been hemorrhaging residents in the past few years under the leadership of Democratic California Governor Gavin Newsom. Newsom is, also, facing a potential recall election caused by the fury that sparked in response to his bungling of the situation surrounding the COVID-19 pandemic.
A demographer at the Public Policy Institute of California, Hans Johnson, made comments on what he described as “a real sea change in California, which used to be this state of pretty robust population growth.”
“It hasn’t been for some time now. But it’s now gotten to the point where the state is essentially not growing population-wise at all,” Johnson Continued.
As the Washington Examiner reported:
“According to a population estimate this week, 135,600 more people fled the Golden State than moved there, which marks only the 12th time since 1900 that the state saw a net migration loss. It is the third-largest drop recorded.
Johnson added that the population decrease could cause the state to lose a seat in Congress as well as an Electoral College vote for the first time. The state did not gain any seats following the 2010 census, which was also a first.
Residents have cited high taxes as a main driver of the decision to leave.
‘I never wanted to leave California,’ San Francisco real estate broker Scott Fuller said about his departure from the state after living there since 1983. ‘It’s the most beautiful state with the best climate. I think the tipping point was continued tax increases and even more proposed tax increases. … I have absolutely no regrets.'”