The Bay Area is becoming an increasingly expensive place to live, so much so that almost 50% of the residents are saying they want out of the area, according to a new report.
"Forty-six percent of Bay Area residents surveyed said they are likely to move out of the region in the next few years — up from 40% last year and 34% in 2016, according to a poll released Sunday by business-backed public policy advocacy group the Bay Area Council," according to National Mortgage News.
"The numbers show a disturbing trend in one of the nation's most expensive housing markets: Workers desperate for a better quality of life and without housing options will go elsewhere, potentially plunging the region into a financial downturn."
Today we revealed that many of the top housing markets are now being considered "overvalued." Having that label as well as residents who are unhappy with the quality of life they have in the area is a cocktail for immediate problems to come.
Experts are pointing directly to the cost of housing as the major culprit for the unhappy state of Bay Area residents. There is no telling if the upward trend of housing prices in the Bay Area will change, however, there is a chance that many of the residents could jump ship if It does not get better.
To learn more about the growing number of residents looking to move out of the Bay Area, click on the image above.