Finding the Downside In San Francisco's Tech Boom

snydeq writes "The NYTimes reports on the San Francisco's shifting socio-economic landscape thanks to a massive influx of tech workers and tax and regulation breaks to big-name startups. 'In a city often regarded as unfriendly to business, Mayor Edwin M. Lee, elected last year with the tech industry's strong backing, has aggressively courted start-ups. But this boom has also raised fears about the tech industry's growing political clout and its spillover economic effects. Apartment rents have soared to record highs as affordable housing advocates warn that a new wave of gentrification will price middle-class residents out of the city. At risk, many say, are the very qualities that have drawn generations of outsiders here, like the city's diversity and creativity. Families, black residents, artists and others will increasingly be forced across the bridge to Oakland, they warn.'"

Comments

Is this bad?

[phantomfive]

Wow, now that I've read the article, look at the first two sentences:

Wayne Cooksey joined the flight of African-Americans from this city last year to escape soaring rents and buy a home. Michael Higgenbotham left six years ago for a safer neighborhood and better schools for his three children.

One guy bought a home, and the other guy found a better school? Sounds to me like people are moving up in the world! These are two success stories.

Re:Is this bad?

[geek]

Pretty much this. I moved out of state. I now live in Idaho and make half what I used to. However, my living expenses are about 1/8th of what they used to be. I was paying $2000+ in rent on average when I lived int he bay area. I now pay $300. I'll never go back. In just 2 years I have paid off every bill I had with the exception of one because I'm using it to build credit.

Add to this, the average cost of a house out here is just two years of my salary. My fiance and I will be buying in a few months with 40-50% down. I didn't understand how much better it was in other states until I moved to one.

It's not just starving artists /welfare recipients

[AtlanticCarbon]

Reading some of the early comments, it seems like people are acting like this just affects artists or poor black people or that this is somehow a reversal of white flight (largely a middle-class phenomenon).

I grew up in San Francisco and still live in the Bay Area. Middle-class and even many (by national standards) upper-middle class people have been and continue to be pushed out of the city. It's not really about racial diversity either. It's a socio-economic and cultural thing. It's also an age thing. To me the quintessential San Francisco resident is a yuppy transplant female in her late 20s or early 30s . She works in tech marketing. She's a foodie and loves visiting all the trendy new brunch places and maybe hitting up a street fair afterwards. She could be white, Asian, hispanic or something else. That doesn't mean it's not monotonous and homogenous. It is homogenous and that's what people are complaining about. And if you want to have a family in San Francisco, you need to be downright wealthy. So there's nothing wrong with being a young professional in itself, but when that's all a city has it's lost a lot of its character.

Anyway, such is life in a market economy. I don't know if there's a right or wrong here and a city like San Francisco has seen waves of demographic changes. But don't think this is like people complaining if white people were to return to inner-city Detroit. This is nothing like that. This is really an entire city becoming like the wealthier parts of Manhattan. I don't expect people from other cities to care, but as a San Francisco native I wish Silicon Valley had been a place in Washington state.