Tech is always implicated in stories about Bay Area housing and rents, and it does play a role, but too many people forget that the Bay Area has a diverse popul

Tech is always implicated in stories about Bay Area housing and rents, and it does play a role, but too many people forget that the Bay Area has a diverse population and economy. There's a sizable foreign population, and professionals working in industries like finance, law and medicine often make far more than their code-writing peers. For instance, an associate attorney or investment banker with a few years of experience can easily pull in more than $200,000/year. This said, there are also a lot of young people in tech who earn good money but spend most of it (on rent, eating out, traveling, etc.) believing that the current environment will last forever. If they knew that this wasn't the case, they'd probably be less willing to spend a huge chunk of their take home pay on rent.