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concludes that the Bay area is better than most of the country for renters, because while our rents are high, the average income is even higher. This article summarizes the study
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So do we have a housing crisis? It seems like what we really have is a national income inequality issue. Rental housing here is actually better than many cities. But prices are being driven up by the high salaries of tech workers. With such a widespread in income levels, its impossible to drive the housing prices down. Trickle down house pricing doesn't work.
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