Aaron Bower, whereas there will always be economically the classes of rich and poor and those in between, each generation historically has risen above the generation before it. Studying the indicators more younger people have to live in their parent's home. They simply are not able to buy property as their parents did and for those who can, they will never be able to pay it off as their parents when buying their home. Today most people have to work two jobs, and common enough not to be shocking some have three jobs. Among other things that tells us, moving forward, literally we are coming to a point people dying on jobs will be common. People will literally work themselves to their deaths. Younger people should not overall expect to ever retire. Most people in the US have wealth via property ownership and most today can't afford to buy.The bridges that supported older generations to reach a level of some security is not there for younger people. Social Security will be calibrated based on requiring people to be older to get it. Young people will never see that daylight. Jobs that offer retirement plans are fewer and people can be easily laid off. I ramble. I apologize. There is a lot to it of course but we are in a decaying society.
Uncle Chuckles, I respect your right to feel as you do but when the masses use terms to generalize people it is the training of the media that dictates how we see and treat each other. It prevents real dialogue.
Cam, its because she is white, she didn't notice what local minorities knew 15 years ago until it hit her. now all of sudden she is all up in the street putting posters up . it makes me laugh. That ivory tower
Everybody won't "move away." The gift and the curse of San Francisco is that it's so beautiful, great weather, and alot to do outdoors. There are filthy rich people all over the world, and the tech industry makes the rich want to be closer to it. San Francisco has lost its soul (I was born and raised there), but it will always be a hot destination, until the physical landscape changes.
supply and demand bro. people won't just all move out over night. as people move out housing price will go down, that in turn will attract back people. Its a constant going in and out.
this is a different scenario than from what happened in places like Gary and Detroit. The tech companies and the rich people are staying, it is the working class and the poor that are leaving. Eventually the tech companies will have a problem recruiting and retaining people if they aren't already. People are not going to want to move to an extremely high cost of living area unless you are going to pay them a very high salary. this is probably why they want H-1B workers because they are used to living in third world conditions.
in houston for 1.5k a month you'd get a house with 4 bedrooms 2 baths large living space plenty of land and live in a great community.honestly hope it never changes cause a lot of people are moving here and they seem to like it.
It's great to live in a small city in Indiana having a 2 bed 1 bath house for only 24K may not be the best looking house but it's a house none the less and I'm satisfied😁😁😁
zachary stotz 26. 64k a year in rva. I can say I’m very comfortable! Those states are great to visit not to live, but what do I know I’m not a huge Starbucks kind of guy anyways.
Yeah my 82 goes pretty far here in PA. I shop at Aldi though. My socks have holes. But I have two new cars and 3 old ones. I've got my priorities straight. 😂
em1ownerify Amen. Aldi cuts my shopping bill in half easily. Partly because the prices are lower but also because the selection isn't as vast, so I stick to the basics. Most of the time I need to get straight home and get stuff in the fridge, so I'm not bouncing to the other stores.
It's not really the tech companies, the bigger issue here is the over-regulation to build housing in California. It takes anywhere between 4-6 years to get a permit to build anything. Oh, and California's easy immigration open borders policies doesn't make the situation any better
A2Kaid @ look at the Japanese people. There building regulations fit on one sheet of paper. They can pretty much build wherever as long as the zoning allows it.
Imagine being born in a city that you can no longer live in as an adult because you can't afford it. It's like you have no hometown and unfortunately that's my reality.
Or imagine that your family decides to move to another part of the us when your a teen... Happened to me when I was 14 I moved from Queens NYC to Virginia Beach VA imagine how I feel...
Seattle and Bellevue, Washington is also very pricey. The average house in Seattle $700,000 dollars and Bellevue is over $800,000 dollars. We’re not talking mansions here either.
Even tech workers can't live in SF. I am a network engineer and couldn't afford it. The only way to raise a family there is if both spouses are senior/management software engineers.
It does suck, but specifically referring to the City of San Francisco, it is super tiny at only 47 square miles. There are only so many people who will be able to live there. Same thing with the 22 square miles of Manhattan. Once again, the richest people win.
Mostly has to do with not willing to adapt to demand.If SF was willing to build up (as well as surrounding cities) it could be a mini tokyo if it had the will power. San Francisco has alot to learn from other world class cities.
A room? I lived in Austin, another tech city, just a couple years ago and rented a 3 bedroom, 2 car garage, house for $1200/month. And I was making $104,000, half of which was nontaxable because it was Per Diem. I guess I was living high on the hog.
Sonet thank you, it's expensive for multiple reasons. Aside from the tech industry moving in. We are also the gay captial of North America, sanctuary City, offer the most free mental health and substance abuse treatments paid for by the county government, which attracts thousands to San Francisco. In addition, natives are living longer and growing (reproducing) San Fancisco is only 7 square miles. Limited supply and high demand of housing equates to high costs. It's simple economics.
This is just simple economics. It’s gentrification on a larger scale. When people with money move in home prices rise due to the new demand present. If you can’t afford it unfortunately you have to move outwards. It happens to major cities all the time.
Which also means local businesses that these newer people patron will no longer have any businesses to spend their money on , because like you said, those businesses and its workers move to other cities. What good is a 6-figure tech job with no where near to spend the money on because you gentrified all the low-skill workers out? Capitalism only works when its a complete greased machine. Gentrification is the result of failed capitalism due to corporatism.
It's all good - Rising real estate prices negatively effect people renting on non rent control. People who own during this time sell when prices rise and demand is high. This leads to prices continuing to rise. Wages are high and there are many jobs available. Prices are extremely high but there are many people who make enough money to live comfortably in these conditions.
The problem is California can't build more housing because the NIMBYs block proposals for new housing. They want to make sure their home that they paid next to nothing for is worth a huge amount of money.
@@sfrealestatedealmaker6001 young people like me are secretly yearning for clean new places to live and work. New-vibrant metros can and will be built from scratch.
Robert Smith just the tax prices dont cause the prices to soar that high for housing...obviously its a very convenient political talking point but the reality is a lot of immigrants come to the bay area to work in startups and tech companies . They live temporarily there causing the housing market to not be able to withstand the demand.Even if they cut taxes the housing prices are not going to come back to earth . Locals move out but immigrants keep coming to the bay area as they dream of better jobs in the short term and not stable housing (like locals)
Taxes a problem eh? It wont be long and McDonalds, Target, Wal-Mart, car dealerships, bars, starbucks, yoga studios, gyms, and every retail building will close down and nowhere for these elite to spend their 6-figures. Those low wage jobs will be gone. Where ya gonna shop techies?!?!!? Thats the good thing about gentrification. Its backfires.
People....believe me when I say this........What goes up, must come down!!!!!! San Francisco will one day be begging people to rent apartments and buy homes. Time will tell.
Stop complaining about companies that pay their employees well and get rid of the pointless government rules and regulations that make it harder to increase housing supply. Real estate developers would be engaging in a frenzy of new development to provide more housing if government wasn't holding them back, increasing the cost of providing housing and them time it takes to develop with pointless regulations that only increase prices and promote urban sprawl as people move farther outside the city center.
I have a tech job and I agree with this. However, I think there needs to be more housing built to reduce the prices. I also hate the zoning laws. Build a denser city and the prices will be affordable .
madboyreadynow28 nah. It’s not widespread like it is in San Francisco. There’s large swaths of Dallas that haven’t seen any gentrification or redevelopment at all.
madboyreadynow28 You should come check out Denver, CO. Homes here are absurdly overpriced. I have a 731 sq ft Condo, build in 1972, no garage, needs work, and very modest. Has rather thin walks too. I bought it in 2005 for $60k. Today, if I were to put it on the market for $140k, I'd have a contract in under a week.... but not before several buyers had a bidding war, and getting it for close to $170k.
ThePistolero2011 I know LA is the worst of any city. You guys have tent cities all over the place. Its sad. I have family and friends in LA. I use to live in Venice Beach so I lnow how bad things are in LA. Its horrinle. LA is not like Dallas where its ok to be homeless. Things will get better
Colleen M You're an idiot if you think that. Go do some basic research before commenting. In this video they just told you in Houston low income for a family of 4 would be 69k....
I drive a truck across country I seen the difference all of the states out there are way cheaper then Cali you make 117k anywhere out of state your pretty rich get a nice big house compare to here for same price you get a lil shed lol.
So if housing prices are high (all time high) with a homeless epidemic and CA is greatly in debt with high state taxes, how did it get to this? And folks working in the tech industry can’t even afford to live in SF while making 6 figures.
The #1 cause of the exorbitant housing prices and traffic congestion is all the tech companies locating their campuses in SF and the peninsula. If they were geographically dispersed across the Bay Area, the prices and congestion would be dispersed across a larger region as well.
if you've a resident and you've been renting for the past 10 years, then you're now priced out. but if you own a property, then now you're filthy rich. it happens in every city. back in 2008 when houses were selling for cheap, you gotta buy them.
a conservative politician wouldn’t be any better, red states may be cheaper but utter garbage places to live, worst schools, worst pays, more homeless. We need a libertarian politician to set things back. Conservatives a poor excuse for right wing.
Well America is so great that 50% of its population barely can afford to live there. 2 million US pensioners fled to Mexico/Europe/South America! Older American even live in Medellin Columbia!
I wonder how many long-time residents maybe could have afforded to buy several years ago but decided not to thinking that their rent controlled apartment was a more sound deal that they could just stay in forever?
This is happening to some extent in every city with jobs. Its the same in Seattle with Tech giants like Amazon. Not sure why these tech companies choose to be down town...
Shouldnt matter. Economic booms are a good thing. If houses are skyrocketing, you can blame the local government for not allowing new housing to be built. A city should adapt to demand. This is what happens when people want to keep cities in a perpetual museum type of a state
Shawn irs not about adding new houses its about preventing pricing of existing ones from spiraling out of control. if there is no extra space , you can't built anything without tearing down existing structures and plan anew. i think the reason we hear this now is because for the first time in the city's history its actually affluent whites who are being priced out. when they moved in in the 70s like the old white lady in the clip. they priced out latino residents and once they settled they prevented new ones from moving in. there is a positive side to all this. now that its white people that are being affected we'll see a change so fast all y'all heads will spin.
Lechiffresix six That makes no sense. We have a huge demand here. To house the existing population, and to keep all cultures and people from be expelled from the area. We would indeed need to house those who currently live there, as well as the demand. If by “white people” you mean the baby-boomer generation that votes down new housing projects, and vote in laws to enrich themselves then I would agree with you. I mean, even if we look at world class cities like Tokyo, Singapore, and Seoul...(which are non majority White societies, id say we have alot to learn from them.
Okay so what's the solution here? Are we supposed to give them free houses, tell them to move, or just listen to them endlessly complain? Those legitimately are the only options.
Everything has changed about this city since my time. Honestly it is dead. Say ode and move on. I'm a working class man. In the 1960's you could get a 1 bedroom apartment on waiter job and buy house within a few years. What has the world come to. I don't know and I don't care. I'm hitting the road. It's dead and sometime we need to accept what's gone.
If the city really wants cheaper housing they need to exercise eminent domain and start bulldozing low density real estate. That are tax the tech companies out of town so home prices plummet. 🤷♂️
These tech companies locate to certain areas for a reason. They already have a presence in Austin and Dallas. They tend to choose places that are already well-off and have an educated population. You won't see tech companies opening up in Mississippi or Kentucky in large numbers anytime soon.
What these high-tech folk need to do is buy a large house together, multi-bedrooms, turn it into a cooperative. There are answers to their problems, they just need to use their creativity.
If you have lived somewhere for decades why do you not own a home? How can someone feel sympathy for a person like that? If you can't afford it move. I would love to live in NYC but I can't afford it so I live in San Diego, see how that works? Stop trying to pull sympathy and move east!
They should build in Marin County and Squat. California law says that if you pay the property tax for 5 years the property becomes yours. Find a plot of land and build or drop a trailer on it and pay the property tax. The problem is the cops but if they can't afford to live there maybe you can convince one to live near you and y'all look out for each other. That is how most slums in countries are formed. I think living in a slum is better than being homeless.
someone is buying the coffee and food in those neighborhoods, I also think it's one of the more gorgeous cities out there and there's the potential to make it big with the silicon valley. it's just a mix of everything. I do feel bad for the people that have to move out, but what about the person that's worked hard to get there and wants to make it and they can pay the rent as is. It's slippery slope.
@@PHlophe people don't just move out because of high taxes. Many people were living here before the tech boom and their houses are affordable, but the high prices everywhere else make the house worth a lot of money, and they sell the house to collect the cash. Unfortunately, the amount of people selling their homes is either not enough, or the price is too expensive for tech workers (probably both). Every time a business closes down, an apartment complex goes up in its place, unless it's in an outdoor mall.
This is not about a cost of living. This is about the deconstruction of a healthy society.
Aaron Bower, whereas there will always be economically the classes of rich and poor and those in between, each generation historically has risen above the generation before it. Studying the indicators more younger people have to live in their parent's home. They simply are not able to buy property as their parents did and for those who can, they will never be able to pay it off as their parents when buying their home. Today most people have to work two jobs, and common enough not to be shocking some have three jobs. Among other things that tells us, moving forward, literally we are coming to a point people dying on jobs will be common. People will literally work themselves to their deaths. Younger people should not overall expect to ever retire. Most people in the US have wealth via property ownership and most today can't afford to buy.The bridges that supported older generations to reach a level of some security is not there for younger people. Social Security will be calibrated based on requiring people to be older to get it. Young people will never see that daylight. Jobs that offer retirement plans are fewer and people can be easily laid off. I ramble. I apologize. There is a lot to it of course but we are in a decaying society.
Political Twinkie LIBERALISM INCOME UN EQUAL CAPITAL OF THE WORLD.. HOMELESS AND MILLIONAIRES ONLY. BAD PLACE TO LIVE
Uncle Chuckles, I respect your right to feel as you do but when the masses use terms to generalize people it is the training of the media that dictates how we see and treat each other. It prevents real dialogue.
Destruction of a healthy society due to voting in Democratic policies for decades
social justice warriors need a living wage of $200K
Did she say the housing costs are “getting” high?!!? This report is about 5-10 years late.
Cam, its because she is white, she didn't notice what local minorities knew 15 years ago until it hit her. now all of sudden she is all up in the street putting posters up . it makes me laugh. That ivory tower
Cameron Morrison FOR REAL!!!!!
I was priced out after 44 years. I'll never be able to ever return home. Not only can I not afford it, it doesn't really exist anymore.
Where are you now? Raleigh NC?
We were priced out after 45 years in North Beach. Apt went from $1600 to $4500, new owner
What happens when everybody moves away? Who`s gonna pay taxes, who`s gonna rent or buy an apartment that`s not affordable? The future is dark for SFO
Everybody won't "move away." The gift and the curse of San Francisco is that it's so beautiful, great weather, and alot to do outdoors. There are filthy rich people all over the world, and the tech industry makes the rich want to be closer to it. San Francisco has lost its soul (I was born and raised there), but it will always be a hot destination, until the physical landscape changes.
supply and demand bro. people won't just all move out over night. as people move out housing price will go down, that in turn will attract back people. Its a constant going in and out.
this is a different scenario than from what happened in places like Gary and Detroit. The tech companies and the rich people are staying, it is the working class and the poor that are leaving. Eventually the tech companies will have a problem recruiting and retaining people if they aren't already. People are not going to want to move to an extremely high cost of living area unless you are going to pay them a very high salary. this is probably why they want H-1B workers because they are used to living in third world conditions.
As long as billionaires and illigal immigrants are there everything will be ok.
@@DeeTruth415 Uhh WHo's going to provide services like firefighting, nursing, and teaching if only 150k salaries are enough to survive?
“Priced out” is a polite way of talking about deliberate price gouging and greed.
"price gouging"
"greed"
lmao those are both made up terms sweetie
It's more complicated than that. There are other people moving in that can afford the higher prices.
$3K for 2 bedrooms? That's a steal. You'd never find a place like this in SF. It's more like $4k+.
in houston for 1.5k a month you'd get a house with 4 bedrooms 2 baths large living space plenty of land and live in a great community.honestly hope it never changes cause a lot of people are moving here and they seem to like it.
@@jorgemartinez-jv8vx I don’t like hurricanes and floods
It's great to live in a small city in Indiana having a 2 bed 1 bath house for only 24K may not be the best looking house but it's a house none the less and I'm satisfied😁😁😁
That same house would cost $1 million in San Francisco. That's how ridiculous it is there.
Is there work there though.
This absolutely makes me laugh! I make $80k in Ohio and live like a king!
zachary stotz till the tech companies have an interest on the east 😶
zachary stotz 26. 64k a year in rva. I can say I’m very comfortable! Those states are great to visit not to live, but what do I know I’m not a huge Starbucks kind of guy anyways.
Yeah my 82 goes pretty far here in PA. I shop at Aldi though. My socks have holes. But I have two new cars and 3 old ones.
I've got my priorities straight. 😂
dchawk81 exactly it’s not really always what you make but how you spend it! Aldi is a life saver
em1ownerify Amen. Aldi cuts my shopping bill in half easily. Partly because the prices are lower but also because the selection isn't as vast, so I stick to the basics. Most of the time I need to get straight home and get stuff in the fridge, so I'm not bouncing to the other stores.
One word GREED, Wonder who is making all that money from those heartless rental prices
It's not really the tech companies, the bigger issue here is the over-regulation to build housing in California. It takes anywhere between 4-6 years to get a permit to build anything. Oh, and California's easy immigration open borders policies doesn't make the situation any better
Hard RIght In a way those regulations cut back on the cookie cutter homes.
A2Kaid @ look at the Japanese people. There building regulations fit on one sheet of paper. They can pretty much build wherever as long as the zoning allows it.
Imagine being born in a city that you can no longer live in as an adult because you can't afford it. It's like you have no hometown and unfortunately that's my reality.
Or imagine that your family decides to move to another part of the us when your a teen... Happened to me when I was 14 I moved from Queens NYC to Virginia Beach VA imagine how I feel...
I was raised in New Orleans and had to leave after Katrina as all the opportunity and stability was gone.
San Francisco now some big apple store
It’s not good for the city. It should be diverse.
Half the tech workers can't afford the area either. Heads up 150k salary isn't buying a 1.5 million dollar home
Seattle and Bellevue, Washington is also very pricey. The average house in Seattle $700,000 dollars and Bellevue is over $800,000 dollars. We’re not talking mansions here either.
You can get a home for half of that amount, if you live 45 minutes away.
Even tech workers can't live in SF. I am a network engineer and couldn't afford it. The only way to raise a family there is if both spouses are senior/management software engineers.
It does suck, but specifically referring to the City of San Francisco, it is super tiny at only 47 square miles. There are only so many people who will be able to live there. Same thing with the 22 square miles of Manhattan. Once again, the richest people win.
Mostly has to do with not willing to adapt to demand.If SF was willing to build up (as well as surrounding cities) it could be a mini tokyo if it had the will power. San Francisco has alot to learn from other world class cities.
NY and SF are going the way of the dinosaur .
I live in San Francisco, I made 50k last year. Rent a room, $1200, make your own food and don't eat out. It's doable.
A room? I lived in Austin, another tech city, just a couple years ago and rented a 3 bedroom, 2 car garage, house for $1200/month. And I was making $104,000, half of which was nontaxable because it was Per Diem. I guess I was living high on the hog.
Sonet , you make me so jealous. Lol
Hang tough, man.
Sonet thank you, it's expensive for multiple reasons. Aside from the tech industry moving in. We are also the gay captial of North America, sanctuary City, offer the most free mental health and substance abuse treatments paid for by the county government, which attracts thousands to San Francisco. In addition, natives are living longer and growing (reproducing) San Fancisco is only 7 square miles. Limited supply and high demand of housing equates to high costs. It's simple economics.
A room for $1200? That's incredible!!
me, third generation born native priced out left now in Reno.
Alot of people from San Francisco are moving to Raleigh NC
NC is a lot better
I hope they don't move to WI.. I like it now .
Greed and price gouging.
"THE STREETS OF SAN FRANCISCO " A Quinn Martin production........
Welcome to Portland, Oregon part 2...I hope you like homeless cardboard cities
California don't worry about it. Our President will Make America Great Again
When?
This is just simple economics. It’s gentrification on a larger scale. When people with money move in home prices rise due to the new demand present. If you can’t afford it unfortunately you have to move outwards. It happens to major cities all the time.
Which also means local businesses that these newer people patron will no longer have any businesses to spend their money on , because like you said, those businesses and its workers move to other cities. What good is a 6-figure tech job with no where near to spend the money on because you gentrified all the low-skill workers out? Capitalism only works when its a complete greased machine. Gentrification is the result of failed capitalism due to corporatism.
It's all good - Rising real estate prices negatively effect people renting on non rent control. People who own during this time sell when prices rise and demand is high. This leads to prices continuing to rise. Wages are high and there are many jobs available. Prices are extremely high but there are many people who make enough money to live comfortably in these conditions.
Andrew Kehres I agree
The problem is California can't build more housing because the NIMBYs block proposals for new housing. They want to make sure their home that they paid next to nothing for is worth a huge amount of money.
Retirement there is out of the question for 99,9% of the US population. Only billionaires will be able to afford living there😩🏡
Let them all go down in the quake .
I can put gold leaf on inanimate objects and call it art weeeeeeeeeeeeeeeeeeeeeee I am soooooooooo San Francisco
Yeah, let's paint some stuff gold. That will help the city. Dude needs to get a life.
Techies should consider moving out to Montana or n/s Dakota. Plenty of real estate for office buildings.
@@sfrealestatedealmaker6001 young people like me are secretly yearning for clean new places to live and work. New-vibrant metros can and will be built from scratch.
Give it time, about 10 years. New development costs money, and it's reflected in high rent prices.
Can you imagine making 100,000 dollars per year and being considered in terrible poverty...welcome to SF!! XD
1:53 even that dog is worried on how it will pay for the rent next month
Underrated
This is a global problem every major city in the world is suffering this problem
So I guess now we're going to call ridiculous tax prices "tech boom"..🤔.... They must really think we're stupid
Well you got your hugely Trump bigly tax cut! You should be able to afford everything.
Robert Smith just the tax prices dont cause the prices to soar that high for housing...obviously its a very convenient political talking point but the reality is a lot of immigrants come to the bay area to work in startups and tech companies . They live temporarily there causing the housing market to not be able to withstand the demand.Even if they cut taxes the housing prices are not going to come back to earth . Locals move out but immigrants keep coming to the bay area as they dream of better jobs in the short term and not stable housing (like locals)
How old are You? That's not how taxes work
Taxes a problem eh? It wont be long and McDonalds, Target, Wal-Mart, car dealerships, bars, starbucks, yoga studios, gyms, and every retail building will close down and nowhere for these elite to spend their 6-figures. Those low wage jobs will be gone. Where ya gonna shop techies?!?!!? Thats the good thing about gentrification. Its backfires.
Stop israel's Genocide the state increased their taxes to negate the tax cut (and then some)
Democrat government puts in so so so much regulations it's virtually impossible to build. Result? Ever higher prices for existing property.
San fransisco might not be a city for old people with walker
This will be the future in most cities. Miami Orlando NYC DC
It’s kind of implying the saying of ‘out with the old, in with the new’, with people.
She said her friends moved to LA and Portland? If you can afford either of those cities you can afford san Francisco too lol
Greed at its finest
This is why I live with my parents living in the Bay area
Frisco smells real bad.
Like any major city with a homeless problem. Los Angeles reeks too downtown.
You speak about this like it's something new.
People....believe me when I say this........What goes up, must come down!!!!!! San Francisco will one day be begging people to rent apartments and buy homes. Time will tell.
Kelly that day has come
Why don't any of these newscasters ever mention the draconian zoning laws in the bay area? It's simple supply and demand. Tech is a scapegoat.
"Something deeply wrong with the housing market…" she says. Good grief.
Stop complaining about companies that pay their employees well and get rid of the pointless government rules and regulations that make it harder to increase housing supply. Real estate developers would be engaging in a frenzy of new development to provide more housing if government wasn't holding them back, increasing the cost of providing housing and them time it takes to develop with pointless regulations that only increase prices and promote urban sprawl as people move farther outside the city center.
throw back to when I was working and then became broke homeless there
Just think one big shake and it's all gone.
crashweaverda - There was a “one big shake” in 1989, annnnnd SF is still there. Lol
@@sfrealestatedealmaker6001 Home prices will be $0.
Susan Thurston
So land prices will be zero? Don’t forget dirt costs 👉🏼 money. 😂
This is what a housing bubble looks like. Its actually worse than 2007-08.
Jeff Cann God help them when it bursts...and it will.
As long as big tech companies are here.......nothing will burst
GREED
Quit living in the city!
Problem solved!
And this is way worse than just a year ago. Crazy.
I have a tech job and I agree with this. However, I think there needs to be more housing built to reduce the prices. I also hate the zoning laws. Build a denser city and the prices will be affordable .
The answer is MORE HOUSING. SF needs to start looking like Manhattan.
I think they want San Francisco to look more like Orange County.
Who uses shoe repair anymore? Thats like lamenting VCR repair stores and Blockbuster being gone.
This is the same thing happening in Dallas.
madboyreadynow28 nah. It’s not widespread like it is in San Francisco. There’s large swaths of Dallas that haven’t seen any gentrification or redevelopment at all.
madboyreadynow28
You should come check out Denver, CO. Homes here are absurdly overpriced. I have a 731 sq ft Condo, build in 1972, no garage, needs work, and very modest. Has rather thin walks too. I bought it in 2005 for $60k. Today, if I were to put it on the market for $140k, I'd have a contract in under a week.... but not before several buyers had a bidding war, and getting it for close to $170k.
ThePistolero2011 I know LA is the worst of any city. You guys have tent cities all over the place. Its sad. I have family and friends in LA. I use to live in Venice Beach so I lnow how bad things are in LA. Its horrinle. LA is not like Dallas where its ok to be homeless. Things will get better
No way! According to republicans, this only happens in cities with democratic governments lol.
For a More Liberal America Yet Dallas is way more affordable and taxation is much lower.
You make $117,000 your still considered broke or Low wages 😂😂 damn liberals and demonrats make California great again.
Colleen M you need to get out more, this is very very false.
Colleen M You're an idiot if you think that. Go do some basic research before commenting. In this video they just told you in Houston low income for a family of 4 would be 69k....
I drive a truck across country I seen the difference all of the states out there are way cheaper then Cali you make 117k anywhere out of state your pretty rich get a nice big house compare to here for same price you get a lil shed lol.
I was a native San Franciscian. I was a renter and eventually just took the buy out money. I moved to LA. I miss my old city sometimes =(
You can live there for free. So many do. Just walk the streets.
So if housing prices are high (all time high) with a homeless epidemic and CA is greatly in debt with high state taxes, how did it get to this? And folks working in the tech industry can’t even afford to live in SF while making 6 figures.
That's a shame.
The #1 cause of the exorbitant housing prices and traffic congestion is all the tech companies locating their campuses in SF and the peninsula. If they were geographically dispersed across the Bay Area, the prices and congestion would be dispersed across a larger region as well.
if you've a resident and you've been renting for the past 10 years, then you're now priced out. but if you own a property, then now you're filthy rich. it happens in every city. back in 2008 when houses were selling for cheap, you gotta buy them.
120k salary = low income. I am poor AF :))
You know what IRC is?
@@lkjhb1 no
You never heard of Raleigh NC 20 years ago...
And then the people who move come to cities like the one I live in and drive up the housing prices here.
You know what IRC is?
2:12 rage level spiked. What're you an animal? Food all over the table top, with a food tray in front of her...
I live her - don’t move here - high prices, high taxes, drug addicts, and liberal politicians sending it down the tubes
a conservative politician wouldn’t be any better, red states may be cheaper but utter garbage places to live, worst schools, worst pays, more homeless. We need a libertarian politician to set things back. Conservatives a poor excuse for right wing.
blame gavin newsom for starting all that mess in san francisco
So sad.
Well America is so great that 50% of its population barely can afford to live there. 2 million US pensioners fled to Mexico/Europe/South America! Older American even live in Medellin Columbia!
the US has become a third world country. Americans don't want to admit it.
@@Imperial0666 with $32 trillion debt. Where has it all gone?
So why are gold man hole covers needed????
Right? that guy is so out of touch.
they're painted gold. it's not real gold, if it was the bums would have stolen it.
I wonder how many long-time residents maybe could have afforded to buy several years ago but decided not to thinking that their rent controlled apartment was a more sound deal that they could just stay in forever?
What else is new.
This is happening to some extent in every city with jobs. Its the same in Seattle with Tech giants like Amazon. Not sure why these tech companies choose to be down town...
Billie Matteo Access to transit, amenities, infastructure...and more importantly young people.
Shouldnt matter. Economic booms are a good thing. If houses are skyrocketing, you can blame the local government for not allowing new housing to be built. A city should adapt to demand. This is what happens when people want to keep cities in a perpetual museum type of a state
Big cities attract the creative types.
Shawn irs not about adding new houses its about preventing pricing of existing ones from spiraling out of control. if there is no extra space , you can't built anything without tearing down existing structures and plan anew.
i think the reason we hear this now is because for the first time in the city's history its actually affluent whites who are being priced out. when they moved in in the 70s like the old white lady in the clip. they priced out latino residents and once they settled they prevented new ones from moving in.
there is a positive side to all this. now that its white people that are being affected we'll see a change so fast all y'all heads will spin.
Lechiffresix six That makes no sense. We have a huge demand here. To house the existing population, and to keep all cultures and people from be expelled from the area. We would indeed need to house those who currently live there, as well as the demand. If by “white people” you mean the baby-boomer generation that votes down new housing projects, and vote in laws to enrich themselves then I would agree with you. I mean, even if we look at world class cities like Tokyo, Singapore, and Seoul...(which are non majority White societies, id say we have alot to learn from them.
OH well many of these people are Progressives and love they have to move.
They come to SEATTLE and the same is occurring
Okay so what's the solution here? Are we supposed to give them free houses, tell them to move, or just listen to them endlessly complain? Those legitimately are the only options.
Everything has changed about this city since my time. Honestly it is dead. Say ode and move on. I'm a working class man. In the 1960's you could get a 1 bedroom apartment on waiter job and buy house within a few years. What has the world come to. I don't know and I don't care. I'm hitting the road. It's dead and sometime we need to accept what's gone.
Same in cities in Europe. Banks are milking us and the politicians are in on it. Regulation is a thing of the past
At least those that have a house and are ready to move will make a nice return.
Keep voting in the same fools! 👍
There’s also a lot of old people who own front beach property out right and won’t move out. Seems fair to me.
You vote in the DEMS in you LIVE with them. Stop jumping ships to RED state and then vote DEMS all over again.
Did they caught the guy who stole a gold toilet 🙃
Sad....
If the city really wants cheaper housing they need to exercise eminent domain and start bulldozing low density real estate. That are tax the tech companies out of town so home prices plummet. 🤷♂️
You dont get priced out if you own the place.
yes the tax on the home will put out sooner or later
maybe not in California but in other states they will raise the taxes to price you out. This is an issue in Texas and Illinois.
This is a free country. Feel free to move.
This is why I live in the south
The south is growing everyone is moving here.
More companies should leave the bay area for other Tech hot spots where the housing is more plentiful and cheaper. Like Austin
I lived in Austin.it has turned into Cali homeless everywhere and uncomfortable housing
And make housing there more expensive?
These tech companies locate to certain areas for a reason. They already have a presence in Austin and Dallas. They tend to choose places that are already well-off and have an educated population. You won't see tech companies opening up in Mississippi or Kentucky in large numbers anytime soon.
What these high-tech folk need to do is buy a large house together, multi-bedrooms, turn it into a cooperative. There are answers to their problems, they just need to use their creativity.
If those tech guys making $100K + a year would pool their money, they could as a group buy a large home.
Some of them are already doing that.
If you have lived somewhere for decades why do you not own a home? How can someone feel sympathy for a person like that? If you can't afford it move. I would love to live in NYC but I can't afford it so I live in San Diego, see how that works? Stop trying to pull sympathy and move east!
yeah, why don't kids who grew up in the bay area just own a home? I'm sure you bought your own home when you were 18 years old right?
Gamer Haven bought it when I was 21 actually. I moved to a reasonable place to afford it. Anything else?
@@gamerhaven7959 he doesn't realize that not everybody has access to Daddy's trust fund.
They should build in Marin County and Squat. California law says that if you pay the property tax for 5 years the property becomes yours. Find a plot of land and build or drop a trailer on it and pay the property tax. The problem is the cops but if they can't afford to live there maybe you can convince one to live near you and y'all look out for each other. That is how most slums in countries are formed. I think living in a slum is better than being homeless.
someone is buying the coffee and food in those neighborhoods, I also think it's one of the more gorgeous cities out there and there's the potential to make it big with the silicon valley. it's just a mix of everything. I do feel bad for the people that have to move out, but what about the person that's worked hard to get there and wants to make it and they can pay the rent as is. It's slippery slope.
people who bought in 10 years ago got very lucky.
housing taxes increased too. hence why folk are selling and moving out too. so nope very few are lucky
@@PHlophe people don't just move out because of high taxes. Many people were living here before the tech boom and their houses are affordable, but the high prices everywhere else make the house worth a lot of money, and they sell the house to collect the cash. Unfortunately, the amount of people selling their homes is either not enough, or the price is too expensive for tech workers (probably both). Every time a business closes down, an apartment complex goes up in its place, unless it's in an outdoor mall.
Greedy landlords. They find out how much money you make, then set about taking it from you.
It’s all because of greed😮
When the next big one hits it will tell you why is not worth to live there.
Beary Captainjack right, because that’s what the last one about 30 years ago did😏.
then accept gentrification.