I dont know why some smart little city near sf (maybe like foster city over on the bay side or somewhere like that…) does not decide that they are going to invest in a portion of town and build luxury living (renting) and luxury dining for this part. Clearly we need another place that these tech workers would consider living other than the city or there will be nothing but only tech and advertising highly paid kids living in the city. They are young and quite wealthy (at least bringing in large paychecks) and want the lifestyle of luxury and modernity and hip swank.
If some city close to SF decided to create true luxury living with larger apartments with terraces and pools and gyms and concierges etc, and were charging equeal or less than these ridiculous prices the city is demanding, I have a feeling you could create your own little rich young high tech super development. It (with the right advertising and PR) would draw those that really chose to get what they are having to pay for actual luxury. If a true luxury living enclave popped up nearby and they made sure that haute-eateries and social she-she drinking establishments (as well as high end retail down the road…) came in, it would be hard not to, at the very least consider taking a look if i was one of these tech kids.
I know whenever i see a show like location, location, location or house hunters etc, 9 times out of 10, the people pick the house that they can actually functionally live in. Usually they will take the space for an additional 10 minute commute over being crammed up in a tiny shoebox in a so-so in-town apartment.
It would also be interesting to see if, say, google or twitter might get into the housing development game. Wouldnt that be cool if they could make apartments near their campuses with all of the hi-end and modern technology that they have integrated into their offices? I bet the workers would love to be able to move into the apts. right when they get hired and recruited. From there if they wanted to later move to SF or the East Bay or wherever, after they settled into their jobs, they could, but at least by then, they may know the area a little better and know where is the right fit for them. Or maybe they would just love to stay in the tech residences. I invision it being like the Olympic Village but for tech workers.
I dont know. There really is no solution in the immediate future for this problem. The city is going to continue to hemorrhage locals and culture and its soul until something comes along and starts fighting (within city hall and on the streets!) for some stabilization for the older residents.
I know that gentrification is a commonality of our times, so, creative solutions to some of these problems need to be brainstormed and enacted. We need to be able to allow all of our residents feel like they belong in whatever town they chose to live in. There should be some market protections so this never happens again… just in my own opinion….
What do you think about this situation with the housing market. Do you have any ideas for some creative solutions? Please share your thoughts! 🙂
- The booming luxury housing market in Kenya is not for the locals as the country’s upper class can no longer afford them (newstimeafrica.com)
- Duravit in “Making Room: New Models of Housing for New Yorkers” (chictip.com)
- Top Luxe US Home Markets (foxnews.com)
- Consider These Renting Community Trends in 2013 (apartmentguide.com)
- The invidious reach of personal-finance snake oil (blogs.reuters.com)
- 20 Most Popular Projects Presented on Freshome in 2012 (freshome.com)
- Disaster Capitalism Hits New York (inthesetimes.com)
- The Quarter Life Crisis: How should a young woman live now?; a Contemplation. (1shelflife.wordpress.com)
- Hebron Properties Launches Ultra Luxury Project in Bangalore (prnewswire.com)
- Death of the Middle Class: Market-Rate Rentals Succumb to Luxury Makeovers (observer.com)