I manage a team of 10 people in San Francisco and confirm a similar pattern. 8 of them have moved out of their SF apartments either to move somewhere else more spacious or in with their parents outside of the Bay Area.
Other people I know at my company have renegotiated rents. Most but not all are open to the idea of moving back depending on how things play out over the next 6-12 months.
I think their is still a big career advantage to being in the Bay Area due to the big tech companies having offices here and face time being important for career advancement.
I would expect somewhat of a swing back away from
remote work when we get a vaccine. That being said, I think the wild card is city/state taxes in the aftermath of all this.
Other people I know at my company have renegotiated rents. Most but not all are open to the idea of moving back depending on how things play out over the next 6-12 months.
I think their is still a big career advantage to being in the Bay Area due to the big tech companies having offices here and face time being important for career advancement.
I would expect somewhat of a swing back away from remote work when we get a vaccine. That being said, I think the wild card is city/state taxes in the aftermath of all this.