Housing Affordabiity Crisis Drives Bay Area Middle-Class Exodus

The region’s housing mismatch increasingly affects hiring and corporate location decisions. In early 2014, Charles Schwab Corp. told employees in San Francisco that it planned to move “a significant number of San Francisco-based jobs” to other locations around the country over the next three to five years. The move is expected to involve more than 1,000 of its Bay Area workforce of 2,700.