3 ms·
It's been said a million times, but I'll say it again for the ones in the back: Housing prices and tech wages. City got great because everyone wanted to live t
by THENATHE 3y ago
It's been said a million times, but I'll say it again for the ones in the back:
Housing prices and tech wages. City got great because everyone wanted to live there. Because everyone lived there, it made a lot of large business start up. These tech giants and other ritsy businesses pay a ton. People move there because of this, which drives houses up.
You hit a bubble where the wages drive the demand which drives the housing price, cyclically. This is what we all know.
The part we don't know or at least isn't talked about is the offshoots of these issues. Hypothetically, I go to SF and live in a camper because I want to get better job opportunities without buying a house. This exposes me more directly to other seekers, homelessness, and 'street people' (drug dealers, criminals, addicts, gangbangers) because I am living in the 'undesirable' places, forced into these locations due to my transient living situation. I have all this money from working, living in a bad area, likely depressed from living in a camper, lacking creature comforts, and suffering burnout, so I turn to these street people and now I am part of the problem.
The unique situation of transient individuals with tons of cash means that it assists in creating a bigger problem faster.