Has middle class "white flight" occurred in your region?

Nhatrang
Mon, 11 May 2020 12:23:59 +0000

Twoin18:

@Nhatrang If you mean from Cupertino then it varies depending partly on your wealth and how much cash you need to extract from the home sale. Some over the hill to Santa Cruz, some to the North Bay, some to the Sierra foothills, some to Tahoe. The Sierra foothills are pretty common when you need to take a lot of cash out of your house. The Nevada side of Tahoe is common if you want to get out of the California tax net.

Thanks, makes sense, it seems that the migration is due to people cashing out their super expensive property when they have no tight to the location to make a living. I would move too if i need the money to retire comfortably unless I love the location and want to retire there for whatever reason.

In a way, it is similar to gentrification. I was living in Berkeley and Albany CA between 92 and 97. Some areas in Berkeley bordering Oakland used to be mostly low in come African Americans. I visited a friend when i was there last year and we took a 5 mile walk going around the neighborhood. She reminded me the area used to be a slum infested with drug and crime. Now these houses are 1.2-2.0 M a piece, mostly white folks, most if not all the original owners had gone. I’ve also wonder where they had gone. I hope they cashed out and made a better life elsewhere. But i had a feeling the original owners didn’t sell their houses for 1.2 - 2.0 M, probably a fraction of that at best.