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People will crowd into an area until the misery and housing price equalize out the earning potential. Only way around it is to limit migration or to have a har
by bpodgursky 9y ago
People will crowd into an area until the misery and housing price equalize out the earning potential. Only way around it is to limit migration or to have a hard cap on rent (which of course causes its own chaos).
- akanet 9y agoThis is a very Malthusian attitude that hasn't really been borne out by the data. Many metro areas with similar earnings potential to SF do not experience nearly the level of crowding and rent gouging that we have here.
- tabeth 9y agoWhich ones? - Boston? Super expensive. - LA? Super expensive. - Seattle? Super expensive. - New York? Super expensive. Etc. You can just settle for a long commute to mitigate the problem, but then it comes back to pick 2.
- akanet 9y agoAll of those places are certainly expensive, but for instance in Seattle, 1BRs rent for a bit over half what they rent in SF. There's a ton of wiggle room in "expensive".
- bpodgursky 9y agoSeattle developer pay tops out at maybe 60-70% of bay area salary.
- vorotato 9y agoInstead join an up and coming city and have rent (and cost of living) be the least of your worries. I pay 1$ per square foot and have a 15 minute commute. How much would you need to earn to have that same commute (subtracting housing costs) in SF?