In the 2000's was when we met, those who had grown up there and those who were moving were in the same age group. Only about 40% were college educated or in tech/programming oriented roles. Of those, a small amount has ridden the wave to prosperity. Most moved to Seattle (if looking for a career/home/etc), or Portland (if they pass the weird-test). There's been a steady trickle out of the Bay for anyone not in tech for the past decade, and now I think only 10% of them still remain. Now they're going to Colorado rather than Seattle, and a few more to Portland. Those that are currently missing the wave in Seattle are looking at moving to Colorado.
I have no idea which area is gonna be next - Colorado is now seen as the last "cool" place thats "affordable" and liberal (sorry screaming Coloradan's, you're next).
Personally, I just can't believe its gone on this long - the pressure release valve that I thought would be released from the bay every year for the last decade hasn't fully let go. Career or being able to afford a house seem to be mutually exclusive ideas if you're not in programming. This is creating a rather nomadic culture within my friend groups... welp, this area is too expensive, might as well move onto the next. Very few are putting down roots.
I wonder what this all will look like when we look back 20 years hence - was it really a bubble, or the creation of a permanent Elysium style class divide between those that had the capital (or took the risks) early, and those who didn't start out as well (or were conservative in leveraging themselves)? Every day it feels like I'm leading more towards the latter.