Friday, March 16, 2018

San Francisco is losing more residents than any other city in the US, creating a shortage of U-Hauls that puts a rental at $2,000 just to move to Las Vegas

I think I may need to resurrect my U-Haul Index
San Francisco lost more residents than any other city in the US in the last quarter of 2017, according to data from real-estate site Redfin, which sampled a million users. The data factored in the number of residents that cities gained, meaning San Francisco lost a net 15,489 residents; about 24% more than the next-highest loser on the list, New York City.

This is expected to continue into 2018, considering that, as of February, 49% of Bay Area residents were looking to move out of San Francisco, according to a survey by public-relations firm Edelman.

If that data isn't enough evidence of a heavy migration, consider the shortage of U-Haul moving vans in the Bay Area, which has inflated costs so much that it costs $2,000 to rent a truck from San Jose to Las Vegas — but only costs $100 the other way around, according to local news reporter Michelle Robertson from SFGate.

In fact, it costs twice as much to rent a truck from San Jose to almost any other destination city than to rent the same vehicle in the opposite direction.



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