The Conservative Cave
Current Events => General Discussion => Topic started by: DixieBelle on June 22, 2008, 01:55:02 PM
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It's urban flight flipped on its head: The number of low- and middle-income residents in San Francisco is shrinking as the wealthy population swells, a trend most experts attribute to the city's exorbitant housing costs.
Many worry it's increasingly turning San Francisco into an enclave of the rich, where nurses, firefighters, cops, teachers and other professionals aspiring toward homeownership or in need of cheaper rent can no longer afford to stay.
"A kind of derogatory term for the city would be Disneyland for yuppies," said Hans Johnson, demographer with the Public Policy Institute of California. "There is a legitimate public policy concern when a city that many people have lived in for many years and regard as their homes becomes so expensive they can't afford to live there anymore."
From 2002 to 2006, the number of households making up to $49,000 per year dropped by 7.4 percent, those earning between $50,000 and $99,999 declined by 4.4 percent, and those bringing home between $100,000 and $149,999 fell by 3.9 percent, according to Census Bureau estimates. In polar opposition, the number of households making between $150,000 and $199,999 surged 52.2 percent and those earning more than $200,000 climbed 40.1 percent.
Certainly, some of the movement can be attributed to people earning their way into higher income classes. But a separate analysis of census data from those who reported moving from San Francisco to elsewhere in the United States confirms the overall trend: The less you make, the more likely you are to leave the city or not move here in the first place.
Cont at link - http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/21/MNJJ10NPSK.DTL&tsp=1
hmmm....I've always wondered how the liberals who suckle off the govt teat survive out there. I bet frank would find this interesting. :-)
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San Francisco is very expensive, moreso than New York. The sales tax is high and housing is astronomical. The median price is $500,000. New York by comparison is $300,000.