strict zoning laws in the Bay Area make it almost impossible to significantly expand the housing stock there. [...]
As a result, the tech boom simply means that housing gets less and less affordable for anyone who doesn't work in tech or already own a home.
A lot of people are blaming the tech boom itself for the Bay Area's housing problems. But the technology boom is only a problem because the region's housing markets are functioning so poorly.
— vox.com
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6 Comments
Why can't it be both?
SF seems dense enough... Why can tech develop elsewhere?
Why should they?
Uber is building an office here in Oakland - SF is not that dense - not yet anyway - Zoning will allow for hight variances provided you add more BMR units - 20 - 30%
Yeah. It's both. Plus the credit bubble, which is what has been driving startup fever in the bay area in the first place. Pump vast amounts of credit money into a closed market where housing supply is restricted by crazy zoning laws, and you'll get an out-of-control real estate bubble too.
They will move elsewhere when enough dating apps die off and other businesses wise up to cheaper opportunities in Oakland and elsewhere.
many want to leave
http://www.sfgate.com/bayarea/article/Cost-of-living-traffic-have-a-third-of-Bay-Area-7386717.php
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