Tech Companies Speak: We Can't Afford The City Either

  • metta

    Posts: 39077

    Sep 08, 2015 1:00 AM GMT
    Tech Companies Speak: We Can't Afford The City Either


    http://hoodline.com/2015/09/tech-companies-speak-we-can-t-afford-the-city-either
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    Sep 08, 2015 4:03 AM GMT

    Its a bubble alright, I just don't see how this is sustainable? I mean its going to turn into Manhattan West (east coast dominated by wall street workers and west coast dominated by tech workers). You will have a complete turn over from middle class to ultra rich.

    Harvey Milk, would probably be very disappointed as to what San Francisco is becoming icon_confused.gif. I guess it works for Manhattan, and the expensive shoe boxes that people live in there. Along with the other notable changes within SF gay community, this is a tragic part of progress, the loss of soul and self.


    Soaring housing costs forces talent to flee Silicon Valley
    http://www.cnbc.com/2015/05/21/

    Now of course, Silicon Valley isn't going to empty out. Its population remained constant over the last decade and will remain so again in this one. More people will come here, but more will leave, too. The result will be the Valley-fication of America, a form of gentrification more extreme than most of America has seen before, with high-tech jobs, high incomes and more expensive coffee, yoga studios and—yes—houses, too
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    Sep 08, 2015 4:16 AM GMT

    Maybe not a tech bubble but certainly maybe a Silicon Valley (housing) one. If tech companies and their techies leave, who will be left to the cover the over priced housing? If it is supply demand, well, once the demand dries up, there becomes a gluttony of over priced supply. Haven't we learned this yet? icon_rolleyes.gif



    Are we on the verge of another tech bubble bursting?
    http://abc7news.com/technology/are-we-on-the-verge-of-another-tech-bubble-bursting/836826/


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    Sep 09, 2015 3:38 AM GMT
    Interesting. Very interesting.
  • metta

    Posts: 39077

    Sep 09, 2015 4:58 AM GMT
    ^
    some of those building requirements have to with environmental rules and limitations on water. Places like Carmel, lots are on a list to be allowed to be built based on approval to get water. Good luck with that with the drought. And then there are properties along the California Coast that you have to get approval by the California Coastal Commission, which is protecting the wildlife/environment.