A Big City Is Not Cheap

794 Words4 Pages
Life in a big city is not cheap. And housing cost is probably the most substantial part of any big city family’s monthly budget. San Francisco, as well as many other US megalopolises, suffers from a lack of affordable housing. People in the area commonly blame computer industry for the problem. Indeed, world’s biggest IT marketplace, located in Silicon Valley, “continue to attract rich, smart people, who are willing to pay high prices”. This people’s flow in its turn boosts the region’s economy and allows the development of important infrastructures (Glaeser 32-34). However, overall population growth creates housing deficit and increasing the costs. A proper housing policy is required to fill the gap. However, San Francisco’s outdated…show more content…
All these demographic movements changed the neighborhood’s composition, and today, with the average cost of one-bedroom apartment at $2640 monthly, the city is officially the most expensive place to rent in the whole country (The Economist). The prices have almost doubled for the last 10 years, and, with more and more people coming, they will not stop growing. San Francisco November’s ballot shows that the population is concerned about the raise, as seven of the eleven propositions “were either directly or indirectly related to high home prices” (Dougherty). In addition, as the city gets bigger overall cost of living is increasing as well. As a result, many people today have found themselves priced out. Yet San Francisco’s population continues to grow. At the same time due to its geographical location and housing regulations the city is very limited in terms of building new constructions. Furthermore, historically San Francisco was designed to be way smaller that it is nowadays. All these factors combined are badly affecting people’s lives. And the interesting thing is that today majority of the townsmen rarely blame tech industry for the high prices. Without a doubt computer boom played a fair role in a development of the issue, but it has definitely been an overall positive experience, that pumped region’s economy and allow growth. Meanwhile, more and more often people criticize San Francisco’s government for been unable to control the situation.
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