So a few days ago, I saw something on the news that made me sad. A college professor making $100,000 has to sleep in her car. It’s because she can’t afford a place to live in San Jose. San Francisco area’s housing crisis is affecting everybody, including IT service employees.
In the greater San Francisco area, buying a home is impossible for many in the IT support and computer tech industry. This includes those working for big name companies. In fact, 59% of all tech workers in that area can’t afford a home. Then, another stat says a person making $110,000 a year or less in the San Francisco/Silicon Valley area is below the poverty line. No tech company is immune. Even employees from Facebook, Apple and Google are struggling.
The average price for a San Francisco home is $1.6 million. The super rich often bid hundreds of thousands or pay cash altogether. Therefore, many software engineers or tech managers can’t afford housing in Silicon Valley. In fact, only 12% of Silicon Valley/San Francisco residents can afford a their own home. Only 49% of Google employees say they can afford homes, and they’re faring the best. But here is the irony. Apple just became a trillion dollar company. Yet, only 37% of Apple employees in this area say they can afford homes.
People are leaving these areas because of San Francisco area’s housing crisis. In fact, whole tech companies are leaving because of the Silicon Valley area’s housing crisis. They’re moving to Seattle, Denver, Raleigh, NC, and yes, our Greater Boston area. But San Francisco and Silicon Valley are losing more citizens than any other metro area in America right now. Even more than crime ridden Chicago. It’s causing havoc on the streets, to the point where downtown streets are littered with heroin needles and human urine and feces. Keep in mind this was once one of the most beautiful and treasured cities in America. But now, it’s come to this. Yet, they’re celebrating because they banned straws! However, they can’t seem to find housing for their citizens, even those in computer repair. Are their priorities out of whack?