San Francisco is replacing its low-income and working class populations with (very) rich people.
Graph courtesy of @sfplanningpic.twitter.com/SIH90kz9kU
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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San Francisco is replacing its low-income and working class populations with (very) rich people.
Graph courtesy of @sfplanningpic.twitter.com/SIH90kz9kU
So why is less than 30% AMI rising slightly?
It's telling us what we already know. That the only non-wealthy residents who are living in SF are living in subsidized housing for very low-income residents. No refuge for lower-middle and middle-incomes. What's happened to the Black Community in SF is happening on a wider scale
I think there’s a larger conversation to be had about how CA cities are effectively financially structured to replace their own working-class populations. You have unpredictable, large (and usually growing) unfunded liabilities, a historically formidable 2/3s threshold to raise
dedicated tax revenues, Californians hate taxing themselves and love something for nothing, so cities and the state are historically dependent on a small number of individuals/businesses funding services, which perversely makes them even more dependent on attracting that 1/0.001%
I don’t think any progressive elected city leader wants their city to be less socioeconomically diverse. I think cities, which are largely on their own, and have weaker and weaker support from state and federal programs/leaders, effectively end up in this situation.
You can’t really house low-income workers in SF absent public subsidy anymore these days. That or overcrowding or some kind of non-standardized, non-legalized housing. Or living in a family member’s place.
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