Listen Now: Moving On Out
The cost of living in the San Francisco Bay Area is forcing people out in droves. Guess where they’re heading.
Low supply of homes and high demand is forcing prices and the cost of rents to new highs. And now, a lot of people are throwing out their keys and heading to cheaper pastures. So where are they heading?
According to the social networking site LinkedIn, who can see where people are looking for jobs, there are ten top cities scooping up the Bay Area workforce. Number ten is Stockton, california. About to declare bankruptcy a few years ago, the city is now leading a basic income trial that will give some residents five hundred dollars cash a month with no strings attached.
Number nine is Salt Lake City, Utah, a city whose low taxes and flexible government regulations are becoming very attractive to tech companies such as Adobe, EA Sports and Overstock.
For a look at the other cities people are heading, read the full article now. It looks like the golden state is losing its luster.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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