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It's not just waiters that can't afford the city. San Francisco could literally price itself out of existence. My previous partner was looking at residency prog
by jostmey 8y ago
It's not just waiters that can't afford the city. San Francisco could literally price itself out of existence. My previous partner was looking at residency programs. Being a doctor in training is not an attractive proposition in San Francisco, and I believe she is happy that she did not match there.
There's a huge fraction of the workforce that cannot afford San Francisco. It has nothing to do with tech. It's the lack of new housing and apartments being constructed that's driving the problem and making everything more expensive there. I don't even want to visit San Francisco again
- dragonwriter 8y ago> San Francisco could literally price itself out of existence No, it can't. It's only expensive as long as there are people willing and able to pay the cost. > There's a huge fraction of the workforce that cannot afford San Francisco Yes, and that's why commuting is a thing. > It has nothing to do with tech. It has everything to do with tech. > It's the lack of new housing and apartments being constructed that's driving the problem No, it's that plus the money (largely from tech) chasing what units are available. Supply constraints alone can't control prices. If there's no demand, price is going to be zero (or undefined) however limited supply is, because no one will be buying. San Francisco has high demand (that is, lots of people willing and able to pay much higher than prices than the market price in many other areas) and constrained supply.
- closeparen 8y agoRegarding commuting, replace “San Francisco” by “anything within one hour of San Francisco at commute time.”