The housing activists are complaining that the tech workers are driving up rents and squeezing out “middle class families, small businesses, artists, and intellectuals.” I guess the tech guys are not intellectuals. According to Real Facts LLC, the average asking rent of a one bedroom in San Francisco is $2,797 (LA Times. Aug 14 2013, page A8). According to Enrico Moretti in the New Geography of Jobs–every tech job produces 5 service jobs. A lot of cities in the United States would like to have a successful tech sector like San Francisco. It’s too much of a good thing. You can read the entire article below.
San Francisco split by Silicon Valley’s wealth – latimes.com.