California’s exodus is changing the landscape in the Bay Area and beyond.
During the COVID-19 pandemic, it seemed like everyone knew a co-worker fleeing the Bay Area.
California also continues to lose residents to Washington, Florida and Virginia while attracting consistently fewer movers arriving from those states. California’s struggle to keep its residents from hitting the road is nothing new. But the acceleration is the product of a slew of pandemic-related shifts to the employment market that has seen an increasingly flexible workforce disperse across the nation, said Daryl Fairweather, the chief economist at real estate brokerage Redfin.
While high-profile corporate exits from companies like Oracle and Tesla have made headlines, the most enduring market impacts will come from larger-scale changes to how and where people work. When Twitter announced in March that its 5,000-plus San Francisco-based employees would have the option to work full-time from home “forever,” it confirmed what many experts had already suspected — remote work is here to stay.
“In the past, the job opportunities anchored these cities,” Khan said, pointing to physical corporate infrastructure and employee commutes. “But when workers become untethered from company headquarters like this, the cities have to raise their game.”
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