Re:Rents are dropping across the US
by fragmede on Wednesday June 17, 2020 @08:16PM
(#23558396)
Even before the original dot-com boom and bust in 2001, San Francisco was seen as a desirable place to live for non-tech reasons. The tech boom drove out anyone and everyone that couldn't afford it, and even those that managed be in rent-controlled apartments found themselves priced out as neighborhoods gentrified and food prices increased far in excess of inflation.
I'm really hopeful that remote work becomes widely accepted so that everyone gets more of what they want. That those who don't want to live in a city are no longer forced to and for those that want to live in a city, it becomes more affordable.
The most recent tech boom finally managed to get some construction going on in SF, but in a city where living rooms were converted into bedrooms and wildly successful 20-somethings having roommates, it's going to have to fall a long way before the city is affordable again on minimum wage.
I'm really hopeful that remote work becomes widely accepted so that everyone gets more of what they want. That those who don't want to live in a city are no longer forced to and for those that want to live in a city, it becomes more affordable.
The most recent tech boom finally managed to get some construction going on in SF, but in a city where living rooms were converted into bedrooms and wildly successful 20-somethings having roommates, it's going to have to fall a long way before the city is affordable again on minimum wage.