“Our family has been priced out! Has the Bay Area gone crazy? Real estate prices have doubled in the last few years, a tent in the backyard can rent for $900/month, foreign investors are driving up prices, evictions and rent hikes are everywhere, people are commuting longer than ever, the middle class is disappearing, empty investment homes are everywhere, and locals are leaving in record numbers. The worst part? Some people are calling it “progress”.”
This is a really hot topic. There are over 2,800 comments on this video at YouTube.
Here’s another closely related video about people in Silicon Valley who are living in vehicles instead of paying outrageous rent. Some of these people earn over $100,000/year but choose to live simply in a custom van or motor home in order to beat the unusually high costs in the area. My prediction is we’re going to see more and more of this sort of thing as rents and cost of living continue to rise, and incomes and job opportunities stagnate.
Related: Real Estate Wars
Wow, look at the eviction map at 7:34. The San Francisco city map is covered in red.
Tables Turned: High-Paid Techies Priced Out Of Silicon Valley
Related: Hotel Walmart