22 ms·

SF residential rents have stayed relatively flat vs NYC and it’s frankly a place many people prefer to live in over other major corporate nexuses like Chicago a

SF residential rents have stayed relatively flat vs NYC and it’s frankly a place many people prefer to live in over other major corporate nexuses like Chicago and Seattle. Eventually the pendulum will swing the other direction and SF will be the hip and hot place to be vs NYC. Of course both have been popular for early career/recent college grads for a long time, but anecdotally NYC has “just” began to attract more 20s people away from the Bay Area since 2020, and it’s getting expensive. Once the cost of living difference between SF and NYC becomes large and well known enough, companies will start hiring more, or choose to start, in SF vs the current trend of picking NYC because talent will begin to prefer it.

rhaway84773 3y ago
That’s a huge risk for SF to take, and it also assumes someone who doesn’t want to live in NYC because of the rents will choose SF instead and not a 3rd city.
- opportune 3y ago
  I think the type of young professional that lives in NYC mostly would prefer SF over a 3rd place, ignoring costs, or at least enough of them would that SF would get a leg up in attracting talent.
lyapunova 3y ago
I have stayed in SF for almost a decade and have no plans to leave. Many of my younger friends have moved to NYC (or elsewhere) and they have told me they don't like the overwhelming tech culture that permeate the bay drowning out the rest of the culture. I could see that happening to Seattle as well, but probably not NYC. I can kind of understand it being like competing colonies of bacteria (each sub-culture). I think its pretty valid, but I don't mind all tech all the time ;D.
- opportune 3y ago
  I also don’t mind tech all the time, and I also see it as competition among cities for young talent. I guess my line of thinking is that young professionals will eventually find SF trendy again once NYC becomes passé for being too expensive, overhyped, attracting too many of the charlatans and clout chasers. People love different parts of the country for many reasons but I think in aggregate SF is generally a number 2 choice after NYC for many young professionals if cost is not a (big) factor. Which is why I think if the trend continues and NYC gets more and more expensive vs SF, 23 year olds will start picking SF over NYC

rhaway84773 3y ago

That’s a huge risk for SF to take, and it also assumes someone who doesn’t want to live in NYC because of the rents will choose SF instead and not a 3rd city.

opportune 3y ago
I think the type of young professional that lives in NYC mostly would prefer SF over a 3rd place, ignoring costs, or at least enough of them would that SF would get a leg up in attracting talent.

lyapunova 3y ago

I have stayed in SF for almost a decade and have no plans to leave. Many of my younger friends have moved to NYC (or elsewhere) and they have told me they don't like the overwhelming tech culture that permeate the bay drowning out the rest of the culture. I could see that happening to Seattle as well, but probably not NYC. I can kind of understand it being like competing colonies of bacteria (each sub-culture). I think its pretty valid, but I don't mind all tech all the time ;D.

opportune 3y ago
I also don’t mind tech all the time, and I also see it as competition among cities for young talent. I guess my line of thinking is that young professionals will eventually find SF trendy again once NYC becomes passé for being too expensive, overhyped, attracting too many of the charlatans and clout chasers. People love different parts of the country for many reasons but I think in aggregate SF is generally a number 2 choice after NYC for many young professionals if cost is not a (big) factor. Which is why I think if the trend continues and NYC gets more and more expensive vs SF, 23 year olds will start picking SF over NYC