Affordability in San Francisco
Gabriel Metcalf on San Francisco’s serious lack of affordability:
But for cities like San Francisco that now have 35 years of growth behind them, the urban problems of today are utterly different from what they were a generation or two ago. Instead of disinvestment, blight and stagnation, we are dealing with the problems of rapid change and the stresses of growth: congestion and, most especially, high housing costs.
When more people want to live in a city, it drives up the cost of housing—unless a commensurate amount of places to live are added. By the early 1990s it was clear that San Francisco had a fateful choice to make: Reverse course on its development attitudes, or watch America’s rekindled desire for city life overwhelm the openness and diversity that had made the city so special.
When San Francisco should have been building at least 5,000 new housing units a year to deal with the growing demand to live here, it instead averaged only about 1,500 a year over the course of several decades. In a world where we have the ability to control the supply of housing locally, but people still have the freedom to move where they want, all of this has played out in predictable ways.
Things have to change. San Francisco is a port city. Prime real estate. Barring an earthquake that swallows the city (actually likely) people are not moving out.