^^ Flunked Geography
Does anyone from the area have a theory on why SV doesn't just go vertical? Are there water restrictions on new construction? Weird hippie building codes that make sure all new building look like Mars-landing ecosphere prototypes? Seems like this 'problem' gets solved with a few 40 story buildings with one bedrooms for 3k a month. #Crowdfundnerdhives
Isn't this just the same 'problem' every region with a thriving industry must endure? At least part of the problem has to fall at the feet of the tech companies building sprawling campuses with bean bag rooms, water slides, Jello-O bars, enormous footprints and no altitude or concern for what their employees endure off-campus.
AirBnB is part of the problem, too. It is jacking up prices all along the coast. This makes even the process of buying a house really frustrating, never mind the crazy price for a 1925 Sears and Roebuck craftsman. Assuming you have your 2mill ready, and you are willing to pull the trigger during your first walk through, as is, you will still lose more than one house to a cash buyer over the asking price who will rent it to German tourists/Chinese mistresses for 2k a week and live over the hill in the county. I assume this is a bubble regulators will pop soon enough.