The Bay Area is the fastest growing region in California right now, and California is growing faster than the country. As for cheap immigrants, the median income in Santa Clara county is 90k and around the same in San Mateo County. San Francisco has one of the highest per capita incomes out there (not a lot of families). The poorest county in the Bay Area, Alameda County, which includes the city of Oakland, has a median income of 70k, about 20k more than the country. A lot of "cheap immigrants" make 6 figures in the Bay Area. I know that personally.
And isn't the cost of living pretty high in Britain? America is a very lucky country. They have a cost of living much lower than most developed countries. Alas, some of the more sought out places in the country have a cost of living equivalent to other developed countries.