It's pretty obvious to anyone who does the numbers that there is more at play in bay area real estate than just tech salaries. A mortgage payment on a SFH with

It's pretty obvious to anyone who does the numbers that there is more at play in bay area real estate than just tech salaries. A mortgage payment on a SFH with a reasonable commute to the big tech companies (i.e. anywhere on the peninsula) is pretty much out of reach for a household with an income below $200-$250k, or without a huge down payment. That's an incredibly high household income and basically requires both partners to be working in high income fields - or one partner that is incredibly successful - so overall a small portion of the population. Foreign investment is driving up real estate prices, which is driving up rents by keeping those who would otherwise buy in rentals. Tech salaries are a factor at play, but they aren't the only one.