Quote:
Originally Posted by nequidnimis
My first house was in East Oakland, a neighborhood that often makes the news but has good transit, and I lived in that house for fourteen years before I was able to move to San Francisco.
The reason I eventually was able to move to San Francisco is over those years my house appreciated, and I built equity. To start making San Francisco affordable to people earning the median income, prices in San Francisco would need to come down a third or more.
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I think you and people like you are the reason it won't happen (prices coming down by a third). As long as San Francisco--almost any part of it, not just the "good" neighborhoods--remains the place most Bay Area residents would prefer to live, demand for homes there will only increase if prices come down at all.
But you have to ask why they want to live there. It has great views but there are arguably better views from Berkeley, Oakland, parts of Marin. Treasure Island may have the best views in the Bay Area but I wouldn't want to live there having experienced the place for 3 years working there. For some, SF's weather may be an attraction (gets neither too hot nor too cold but for others it may be a negative--foggy).
I suspect the main reason is a short commute and so much going on from restaurants to high culture to spontaneous gatherings and festivals. To keep the jobs in the city, we need to keep office rents as low as possible which means meeting demand for office space and that requires vertical development over time. And, as I've already explained, to keep the place lively and fun, more density means even more "happening" and more reasons to want to live here.
Nobody is going to build highrises in the Richmond, Sunset, Mission, Haight, Pacific Heights, Marina, Noe Valley etc. Those neighborhoods will remain largely as they are for those who can afford them--whether having built up equity in Oakland or not--but vertical housing and office development downtown can enhance the city's affordability and desirability for many and is very much worth doing even if it blocks a few people's views or otherwise detracts from their ideal vision of San Francisco when they chose to come downtown.