Well, we will find out this afternoon. I don’t think the bulk of the cuts, if anything major will come from San Diego. I think the bulk of the cuts will come from Bay Area and elsewhere.
They bought like 3 wireless connectivity companies (Atheros, CSR, and I forget some one before Atheros). There’s probably more than one team competing against each other doing the exact same thing. kinda like we were when our company bought 3 LTE companies…. We know how that ended. 🙁
I don’t think this will drastically impact SD housing market per se, since it seems like the SD professional market is now pretty well diversified. Biotech seems to be doing very well at this moment.
A lot of the engineering households that are already able to afford north county (which itself is a problem…affordability), for example, tend to be dual income households to begin with, most likely both professionals (particularly the asian and indian households). So the difference is that a $300-400k/year household goes to about around $200k/year household. There’s probably going to be some people that relocate out (single income households, that also has the bad luck of not being able to find something else), but then there’s still these influx of other buyers (foreign and domestic) that aren’t even tied to Qualcomm or engineering for that matter.
It sucks for the people impacted, but life goes on for everyone else.
