Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by taway_1212 on Monday October 23, 2017 @01:57PM (#15535333)

> All that air space that could be condos, homes for people, anything at all, wasted so that "people can see the mountains better". Meanwhile, my friend and his girlfriend are paying $4000/month for 1000 sqft.

My guess is that, if significant amounts of extra housing were added in the Bay Area, software devs salaries would fall. Right now, software companies need to pay insane money in order to offset the insane cost of living (as otherwise, they'd lost their workforce). So, filling BA with high-risers would not help members of this forum that much (it would likely be very helpful for people in low-wage jobs though).

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Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by kamaal on Tuesday October 24, 2017 @01:56AM (#15539536)

Home prices will fall too.

So all these people who have already paid millions for their homes will suddenly find their homes devalued by a huge margin.

Needless to say that won't go down well.

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Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by flaque on Monday October 23, 2017 @03:24PM (#15536168)

This assumes that the cost of living would stay the same. Salaries might fall, but so would cost of living.

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