Below is a transcript from our press conference being held on 4/12/2017.
“By a show of hands, how many of you are from the bay area?” “ How many of you had a hard time finding a place to live, whether it's in the Bay area or San Francisco specifically?”
We’re starting to see a differentiation of views in the bay area, Pro Development vs. Development. Both of these have different kinds of impacts.
Impact of Development
Keenan ( Benefits of Development)
Right away I already know it is going to be hard to hear what I have to say, and not somewhat disagree with me. Main reason being is that I am going to be telling all of the many benefits that the extreme development of the BAy area, which only seems to be increasing, is a positive thing. Yes, I do know that this development is what is leading to the high cost of living, but would the contrary be? We also must take a closer look at why these prices are skyrocketing so fast.
We are currently located in the technology capital of the world, with every large tech startup that has turned into a major conglomerate, most of them started here in the bay area, not only did the development of these companies such as uber, lyft and twitter bring many jobs to the bay area, more importantly it brought massive innovation. Everyone want to come to Sillicone Valley, because of what it represents, it represents opportunity and the future. “Silicon Valley has always been a Promised Land with almost Biblical aspirations, concerned as much about the search for meaning as for money.”
Ever since the “tech boom”, as it is now known as, of the early 2000’s aspiring computer engineers and entrepreneurs flooded to the bay area, more specifically the silicon valley, this increase in people moving to the area has resulted in what we now know as the housing crisis and the increased living rates. So are these increased rents and living expenses a bad thing, for most people, yes. WE have to think about what would happen if this wasn't the case, if silicon valley was the center for technological growth and progression. We would not only lose out on being part of the group that design the future, but simply said we would take a huge tole economically.
Silicon Valley is the world's premiere "Business Cluster". Originally this cluster was focused on the chip industry but now is more focused on software and Internet.
In fact Silicon Valley has become the shorthand archetype for all business clusters. With people constantly talking about: How can we produce the Silicon Valley of country X? or How can we produce the Silicon Valley of industry Y?
So let’s consider the contributions of such a cluster:
Silicon Valley does all of the above.
And it is because of all of this, that we are left with the housing problem that we are currently facing, innovation and progress going hand in hand with the skyrocketing rent. WE can keep one, but lose the other.
Rory(Impacts of Development):
Like Noah explained to us earlier, the cost of housing is rapidly increasing. With the expansive development of high density housing and commercial real estate, it has become very difficult for anyone at or below the average salary in the Bay Area to afford housing (the average salary being just over $110,000).
As Keenan discussed the pros of development in San Francisco, I will be discussing the impacts it has on other parts of the Bay Area and will be specifically referencing San Mateo, a city about 20 miles south from here with a census of just over 760,000 people.
So whether you are for or against, the Bay Area is going to keep on growing. For more information on development projects in your area, City Council meetings often discuss current and upcoming projects.
“The Pros and Cons of San Francisco’s Tech Boom” — Th M Report 5/14/2014 by Colin Robins
“America’s Rental Housing - Expanding Options for Diverse and Growing Demand” — Harvard.edu
“In Cramped and Costly Bay Area, Crises to Build, Baby, Build” — Ny Times 4/16/2016 by Conor Dougherty
“A Clear-Eyed Report on Housing Crisis” — The San Francisco Chronicle 10/21/2016
“There’s a Profoundly Simple Explanation for San Francisco’s Housing Crisis” — Huffington Post 6/2/2016 by Kate Abbey-Lambertz
“The Citis Where a Six-Figure Income Is Barely Enough to Get By” — Huffington Post 4/2/2016 by Kate Abbey-Lambertz
“Bay Area Wages Soaring - But Still Can’t Keep Up With Housing Prices” — Mercury News 9/25/2016 by George Alavos
“San Mateo’s Bay Meadows Scores Popular Craft Brewer for Beer Garden” — San Francisco Business Times 12/7/2016 by Tessa Love
“Reasonable Growth on El Camino in San Mateo” — MoveOn.org 8/4/2016 by Walter Schwartz