The bullish labor market is having a big impact on housing costs in some parts of the region. Could some of the demand for the hottest markets be met by other, more affordable locations that are well served by regional transit?
Interestingly enough, becoming a hi tech center is not as easy as it looks. After 30 years of hi tech, we have only 6 major centers: SF, NYC, Boston, Austin, Research Triangle and Seattle, and only SF, Boston and Seattle seem to act as incubators, spawning new start ups.
The Bay Area is one of the most expensive housing markets in the entire country. Yet while housing costs in hot areas such as San Francisco, Marin and parts of the peninsula are skyrocketing, parts of the region still remain more affordable. Could transit connections between different parts of the region, coupled with new housing production at all income levels and better urban design, help to address regional housing costs?
This is the thing about housing prices.............even in the city of SF there are still a few areas of relatively cheap housing.........places like Hunter's Point. Twenty years ago, there were many more areas of lower priced housing in the city. Over the past 20 years, many of them have become gentrified. In the Bay Area there are lots of relatively affordable areas.......places like Oakland, Antioch and Pittsburgh. Eventually those areas, just like SF has in the past 20 years, will gentrify.
So even as people outside the region say how can people stay in an area where housing is so expensive...........we are talking median here. There is cheaper housing.........just not in areas where people want to live.......yet. |
