I flew in from Florida last night, and braved the crowds at the San Jose airport... all the travelers who were leaving for the Holidays. It's a pleasure to have a broadband connection again, and leave the dial-up behind.
Waiting for me were a collection of Mercury News articles, most of which were more optimistic about the real estate market than the West Palm Beach paper had been. One of the best was entitled, "People no longer fleeing Silicon Valley," by Mike Swift.
Florida is recording a 20% population loss, so it's nice to read that the great flight from Silicon Valley is over.
75,000 more people migrated out of Santa Clara County for other parts of the United States than moved in from 2001 to 2005. But in the past year, that outflow ground to a near halt. Meanwhile, the rate of foreign immigration to the South Bay surpassed Los Angeles County this year, and Santa Clara County had its largest percentage growth since 1997. More than 40 percent of Santa Clara County's population growth came from foreign immigration.
Immigrants "are a large percentage of our buyers," said Craig LeMessurier, a spokesman for KB Homes, the largest home-builder in Santa Clara County. Santa Clara County has joined San Francisco as "one of the gateways into the country for many, many people, and certainly a gateway into California,"
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