Oh. How the world wants to move forward minus traffic.
So 15 of the 30 cities with the highest rents in the country are all in the San Francisco Bay Area, with Palo Alto topping the list, according to this lovely report from Lovely that came out last week.
Part of this is cyclical. We don’t know where we are in the cycle or when it definitively turns. However, there are lots of structural forces at play that have accumulated over the last 40 years to get us where we are today including growth controls from back in the 1960s and 1970s, the emergence of the tech industry as an economic powerhouse and fragmented governance that often pits the Bay Area’s 101 municipal governments against each other. Here’s an overview I wrote back in the spring. These forces will almost certainly persist into the next economic cycle.
Unfortunately, there isn’t a startup or a piece of tech that’s going to solve…
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