I was just in San Francisco and prices and rents are INSANE. The city will not allow any new development and as such the hyper-liberal city is home nearly exclusively to the rich.
There are exceptions. There is a huge homeless population. But for those with mailing addresses the cost of living is astronomical. This is common in many “liberal” cities. Why is this?
(From The Atlantic)
The city’s gaps—between rich and poor, between housing need and housing supply—have been duly catalogued. Even among American tech hubs, San Francisco stands alone with both the most expensive real estate and the fewest new construction permits per unit since 1990.
But San Francisco’s problem is bigger than San Francisco. Across the country, rich, dense cities are struggling with affordable housing, to the considerable anguish of their middle class families.