Due in part to this dizzying statistic, tech has elevated the Bay Area to the forefront of America's economic recovery, plunging San Francisco's unemployment rate to among the lowest in the developed world. According to the Census Bureau, 2013 rents in San Francisco, Oakland and San Jose shot up 21, 15 and 13 percent respectively. According to the San Francisco Apartment Association, last year the city added 68,000 new jobs and just 120 new housing units. The frustration we are witnessing on the streets, train platforms, social media sites and coffee shops is the product of a generation of under-investing in housing and transportation. Bay Area voters should demand a visionary expansion of affordable housing and an aggressive capital reinvestment in our public transportation systems, and be wary of activists and politicians who vilify the newcomers.
Comments (0)
Sign in to post comments.