Saturday, April 30, 2016

Beating a dead horse: the failed San Francisco housing experiment and soaring costs for housing

Followers of this blog will have read about the failed housing experiment in San Francisco many times over. The 'dream' actually turned out to have a "Shakespearean Flaw". By limiting growth and housing they increased demand in a culture that now prefers to live in cities; once the Great Recession ended the writing was on the wall, as they say, and the San Francisco dream to 'save' the  city failed.

Housing in San Francisco is at such a premium that costs have soared for apartments, condos, homes, etc. How much? This article by Gizmodo titled, "Could You Save Money By Commuting to San Francisco From Las Vegas?" says it all; here's a short excerpt:

     "Many of San Francisco workers are being priced far out of the city due to the housing shortage. But how far? According to one person’s calculations, rents are so high, it would be worth it to move to Las Vegas and fly back to San Francisco for work.
     Supercommuters—people who live in one city and fly to work in another—have been growing in numbers due to the seemingly incongruous trends of dirt-cheap airfare and outrageously high costs of living. But these choices usually have to do with family situations or job changes; it rarely pencils out economically. But sometimes, when cities are really expensive, it does."