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Old 11-06-2017, 03:13 PM
 
769 posts, read 710,370 times
Reputation: 1035

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Growing homeless camps contrast with West Coast tech wealth

Rising housing costs along the west coast are being blamed for a surge in the homeless population in virtually all of the major west coast metros - especially Seattle and San Francisco/San Jose.

Some blame the boom in tech jobs, especially in the aforementioned cities - i.e, new money pricing out the locals.

Others blame a lack of homes being built over the past decade (or longer), and a shortage of supply in the hottest markets (particularly in the most geographically constrained areas).

Some also say that foreign speculation/investment is also a big factor at play, artifcially inflating housing costs.

What is certain, is that this is a real issue, and there's many questions...

- How much worse will things get before they get better? Which cities will handle this issue the best/worst?
- Will there be a significant spike in crime resulting from this?
- Will more tech jobs eventually spread out to other parts of the country? (Surely, there a number of cities that would love to have such jobs with far lower COL), easing the growing pains of west coast cities? Or will the west coast cities simply be forced to become much bigger to accomodate the growth?

Discuss!
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Old 11-07-2017, 10:34 AM
 
5,449 posts, read 2,289,752 times
Reputation: 16436
I read an article a couple of years ago that stated how a schoolteacher in California would not be able to afford 83% of the homes in the state on his or her salary. 0% in places such as San Francisco. Here's the article: https://www.redfin.com/blog/2014/02/...-teachers.html

Mind you, I won't go into the methodology of the article or the cause and effect if it is indeed accurate. But if a school teacher cannot afford a home, the same is true for a lot of professions that must exist to support the lifestyle of all those top earners. Cooks, clerks, first responders, and a host of other professions. The result is what a lot of demographers are calling the "Hollowing out" of California, so only the rich and the poor will eventually live there.

The bleeding due to domestic migration is cutting across all demographics, evidently, and housing costs are driving it.

California for whom? Joel Kotkin and Wendell Cox – Daily News
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Old 11-08-2017, 06:57 AM
 
Location: Lakewood OH
21,699 posts, read 23,648,620 times
Reputation: 35449
I could no longer afford renting in Portland, OR after living there for nearly forty years. Between the new very expensive (for me) mega apartment buildings going up and the diminishing number of older slightly less expensive rentals, I was priced out of the market. Eventually I relocated back to the Midwest area where I was originally from.

The tech boom in the Portland area was a contributing factor to the high price housing costs and the ever increasing COL as well.
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Old 11-08-2017, 07:39 AM
 
Location: I is where I is
2,097 posts, read 1,521,748 times
Reputation: 2300
Quote:
Originally Posted by Los Orangales Empire View Post
People who think California is unaffordable are only looking at LA,SF,SD, SJ, and Tahoe . Thereís still an enourmous chunck of that state like Sacramento, all the Central Valley, The Inland Empire, Imperial Valley, and the Coachella Valley to grab a piece of your paradise
If Sacramento & the Central Valley are paradise, Iím truly sorry.... California is wholeheartedly overrated
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