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Technology Stocks : Intel Corporation (INTC)

INTC 36.91

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3:59 PM EST

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To: Amy J who wrote (141538)	8/14/2001 9:58:52 AM
From: Tushar Patel	Read Replies (1) of 186894

Anecdotally, I am hearing a lot of people have started to leave the bay area. Would make sense. Yahoo had a story a couple of weeks ago that layoffs in silicon valley from big companies this year is already over 70000. Another data point is rents. Rents in the east bay for a 2 bedroom apt have dropped by about $200. Move-in specials and other such deals are coming back. Even rents in San Francisco can now be negotiated. For people outside the bay area, this is way different than the situation last summer when any decent apartment would have 15 applications (& "rental resumes" - true, don't laugh!) within an hour of showing with several people offering above asking. But then, that was with 0.5 to 1% vacancy rates. Wonder what it is now. Oh by the way, Bangalore (silicon valley of India) is also seeing tens of thousands of engineers out of work. tushar

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