“San Francisco’s YIMBY movement (“yes in my backyard”) is pushing the city to build its way out of the housing crisis.
A booming jobs market and years of underdevelopment have led to skyrocketing real estate prices and rents in the region. In 2015, the Bay area added 64,000 jobs but built less than 5,000 housing units. The median home price is now over the million dollar mark and an average one-bedroom apartment rents for more than $3,500 a month. The high cost has made it difficult for many residents to find affordable housing within the city.”
The comment section below the video often has interesting insights. Here’s one example: “I almost applied to Berkeley for their engineering program until I realized how much the rent cost there. It was so bad that some guy was renting out a Winnebago for $700 a month. The rent problem is effecting other cities around the San Francisco area.”