Here’s why more residents are considering leaving the Bay Area – NBC Bay Area

New survey shows what most of us already know or are even considering when it comes to the high cost of living in the Bay Area.

More than half of those surveyed by Joint Venture Silicon Valley “plan to leave the Bay Area in the next few years.” More than 70% of those polled said the quality of life has declined over the past five years and young people are feeling even more worried.

Shannon Tan, a resident of San Jose, pretty much sums up what a lot of young people are feeling in Silicon Valley these days.

“Silicon Valley, the Bay Area in general is very expensive,” Tan said. “So many don’t plan to live here in the future.”

A future that people, especially young people, have called blurry because of sky-high housing costs.

In fact, according to the latest Joint Venture Silicon Valley survey, the top two concerns for Bay Area residents are the cost of living, cited as the biggest concern by 84% of respondents, and high housing costs. , cited by 77%.

“It’s a high cost region,” said Russell Hancock, CEO of Join Venture Silicon Valley. “And the biggest cost of all is housing. “

Hancock said that despite our strong economic growth and job growth, housing is still the # 1 topic when we think about whether we can stay here.

“People who live in Silicon Valley have always been nervous,” Hancock said. “There is this feeling that housing might be out of reach for you, it is definitely out of reach for your children.”

This does not bode well for the future of startups, traditionally launched by young people.

Meanwhile, forest fires and drought were also cited by more than 60% of those surveyed as pressing concerns.

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