3 ms·

Housing prices and displacing people from their homes has an obvious effect on the local labor market, which is an externality.

• Kalium 12y ago
  Given that they are displaced by other people, presumably with higher incomes and skill levels, I'm not sure how obvious an effect that is.
  • foobarqux 12y ago
    A city's inhabitants aren't fungible even in SF and in any case replacing employees costs a company a lot of money.