3 ms·
A lot of people are afraid, from every walk of life and demographic around the Bay Area. The poor and working class who are the lifeblood of the city are reali
by tsunamifury 11y ago
A lot of people are afraid, from every walk of life and demographic around the Bay Area.
The poor and working class who are the lifeblood of the city are realistically worried about being priced out if they don't own already. New tech workers are completely unable to break in to even moderate land ownership to lock in cost-of-living, and experience the same. And forget about our critical social contributors like teachers, who are forced to depend on another income to fund their work.
I know several Googlers fleeing the bay out of fear. It doesn't matter how much money they have or don't have, they have come to the conclusion they can't and don't want to fight an infinitely growing market that absorbs every raise, bonus, or stock grant back into rent. Got a new RSU grant? Great, your landlord just raised the rent by $20,000 over the year. Got a big bonus? Sorry, that down payment now needs to be double what it was last year... try again next year!
What I sense is fear everywhere, that is driving greed. A runaway market means you can never have enough to overcome a future where you will be priced out. This feedback loop drives land owners and workers into and endless cycle of misery thats making the Bay a very undesirable place to live.
The tech buses are the most visible thing to blame, but ironically these are liking making commutes slightly more tolerable than they would be without them.
- morgante 11y agoYup. I really just wish someone was politically savvy enough to bring the tech workers and working class together into a political coalition against the rentiers.
- pjlegato 11y agoThe large number of people from all walks of life who already own land in the bay area aren't afraid. They think this is great.