Expecting a Mass Exodus of Tech Talent From Coastal Cities

December 31, 2017, 9am PST by James Brasuell
San Jose, California.
An expert says the Republican tax bill is likely to accelerate an exodus away from traditional tech hubs toward more affordable areas.

"Amazon's search for a second headquarters outside Seattle is just the beginning of a tech exodus from expensive coastal cities to cheaper inland locations," writes Sara Salinas. That's the opinion of Redfin CEO Glenn Kelman, who shared that opinion recently on CNBC's "Power Lunch."

According to Kelman, the trend is already underway, but there will be "an accelerating shift out of coastal cities as homeowners seek to avoid the higher tax rates of the recently passed Republican tax bill."

Kelman expects cities like Denver, San Antonio, and Houston to benefit most from the trend.

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Published on Thursday, December 28, 2017 in CNBC