Saturday, July 02, 2011

Moving out of Bay Area

More residents remained San Francisco Bay Area according to a report published in San Jose Mercury News. Real estate agents already see evidence of a housing crunch in a handful of communities such as Palo Alto, Cupertino and Fremont, which are known for their schools and are near many of the fastest-growing companies. Apparently one of the reason of the low number of homes for sale in Bay Area is the result of homeowners retiring in the place where they worked
52.7 percent
Increase in the over-85 population in Santa Clara County between 2000 and 2010.
37.4 percent
Increase in the 55-to-64-year-old population in Santa Clara County between 2000 and 2010.
More details at Santa Clara County's fastest-growing population is over 85

3 comments:

Manhattan Beach Agent said...

San Francisco and the Bay Area are fortunate to have relatively strong economic conditions; high paying tech companies, and other financial and professional services, are densely clustered around the area, which ultimately drives real estate demand. The same isn't true for the rest of California, and the state's attitude toward business doesn't bode well for future economic growth.

Palo Alto Realtor said...

The whole country is getting older as the baby boomers continue age. Besides, I'm not surprised that the older generation is moving to sunny southern california.

Homes for sale in Sun City said...

The country is continuing to age. We are getting a lot of boomers flooding to Sun City West, Arizona as well.