|
|
|
|
|
by SurfScore
4683 days ago
|
|
I've lived all over the country, and I've never seen such a big divide between two groups (wealthy tech and everyone else) as I have in the Bay Area. The last time I was there, I realized why most of the protests for economic reform and "the 1%" are so strong in the Bay Area: because it is so blatantly thrown in people's faces! The streets are filled with Porsches and Teslas driving by the many homeless people in SF everyday. Rent is absolutely absurd. Most big cities have this problem, but its especially pronounced in SF (probably moreso than everywhere but NYC). I think the thing that probably makes it worse in SF is, as mentioned in the article, many people don't work in SF. I don't know of many companies in Chicago, NYC, or Dallas providing free transportation to their headquarters in the suburbs, people that live in those places usually work in there too. I'm not sure what can be done about this; Google isn't moving their headquarters to SF (nor should they). At some point this issue is going to boil over and something will have to change. |
|
I keep posting variations on this, but this link is relevant here: http://www.slate.com/articles/business/moneybox/2012/05/face... . "Rent is absolutely absurd" because of basic economics at work: SF is a desirable place to live in many respects, but it's virtually impossible to build new housing there for reasons discussed at the link. In the face of exploding demand and constant supply, prices rise. For more on this, see The Rent is Too Damn High: http://www.amazon.com/The-Rent-Damn-High-ebook/dp/B0078XGJXO. Most big cities have this problem, as you note, and yet most commentators don't discuss the obvious connection between supply limits and prices, per my essay here: https://jseliger.wordpress.com/2013/04/08/connecting-the-dot... .
Regular people move from SF and places like it to the sunbelt, where development is easy and real estate prices more reasonable, and the people who have the money and/or need to be in SF stay/move there.