Unlike the prior generation of tech executives who spent their lavish earnings on wealthy neighborhoods and Silicon Valley suburbs, a new generation of dot-com profiteers are driving up housing costs in grittier parts of San Francisco.
Nancy Keates and Geoffrey A. Fowler report on the dramatic effect that "infusions of cash from the rising shares of Apple and Google and the initial public offerings by Zynga, LinkedIn, Yelp and soon Facebook" are having on such San Francisco neighborhoods as the Mission, where median home prices have grown 44% compared with a year ago.
"Real-estate agents say it's a cultural shift. The new generation of Internet executives-younger than the last generation of dot-commers-eschews the trappings and responsibilities of expensive properties. They want to bicycle, walk or take public transportation. They like living near food trucks and dive bars," write Keates and Fowler.
Although "the gentrification is far from complete," as Keates and Fowler observe, those same "gritty" elements that attract enthusiastic renters and buyers are being forced out of some of the last areas of the city to offer housing options to middle and lower class families.
FULL STORY: The Hot Spot for the Rising Tech Generation
Does Zoning Create a Vicious Circle—Or Can It Fix Itself?
Ideally, planners could balance homeowners' interests in zoning against the public good, liberalizing zoning when prices got too high. But this may be politically impossible.
S.F. Rezoning Plan Paused for Equity Analysis
A plan to rezone parcels around the busy intersection of Market Street and Van Ness Avenue in San Francisco, called the Hub, will undergo an analysis of the potential impacts of the plan on marginalized communities.
'A Strange, Second-Wave Gentrification' in San Francisco
Vast amounts of tech money have transformed the city's commercial spaces in unexpected ways.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
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