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The market-god spin is that San Francisco has an advanced economy, with advanced jobs, which is why there are so few poor paying ones.
by codex 13y ago
The market-god spin is that San Francisco has an advanced economy, with advanced jobs, which is why there are so few poor paying ones.
- maxander 13y agoThe article is saying housing in San Francisco is unaffordable compared to San Francisco's own median income. I'm not an economist (nor a San Franciscan,) but that sounds unsustainable no matter how you spin it.
- codex 13y agoThis can occur when an influx of high paying jobs raises prices but the original, poorer inhabitants are unwilling to move out. Eventually the median income rises as people retire, die or can no longer afford the property tax on their now-very-pricey homes. The few remaining low income jobs are staffed by commuters.