The Unfortunate Case of Homeownership in the Silicon Valley By Ian batra
Even Tech Workers Cannot Afford Homes In Silicon Valley
Living in San Francisco is becoming expensive by the day. Average paid workers such as teachers, firefighters, and service industry workers find it difficult to live in San Francisco. On the contrary Tech, workers are the most paid workers but also it is difficult for them to live in Silicon Valley. Reasons behind this problem are workers’ salaries and wages have remained constant for the longest time and on the other hand the prices of houses are increasing by the day. The California Association of Realtors shows that an average house in San Francisco is about 1.2 million dollars. Only about 12 percent of San Francisco residents were able to buy
median-priced homes by the end of 2017. In San Mateo County the number increased to 14 percent and 15 percent in Santa Clare County. The affordability rating was at 26 percent for single-family homes and 56 percent around the state in the same year. Tech workers still complain that the housing cost is too high and for that reason plan to leave the State. There are 13 major tech companies in San Francisco. Workers of the company claim that they are underpaid and want more money to enable them to afford houses in San Francisco. Among those complaining are eBay and cisco workers however Facebook and Google workers are struggling to live in San Francisco. The problem in housing has raised alerts in major tech companies like Facebook and JUNE 2022 | 73
PHOTOS FROM 123RF
LIVING IN SAN FRANCISCO IS EXORBITANTLY EXPENSIVE.
