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Gentrification cannot be solved without crucial, large compromise

September 18, 2015

By : dailycal – excerpt

It seems like every day I read another story about the housing crisis in the Bay Area. Gentrification is rampant, and displacement is a fact of life. Buying a home is increasingly difficult for most area residents in most places. Rental prices in places like San Francisco and Silicon Valley have reached such absurd levels that a man can rent a tent in his yard for $46 per night. And in places like Antioch and Oakley, the aftershocks of the foreclosure crisis are still being felt — more people are renting and more people are poor, sometimes because they lost their house, other times because they got pushed out of the region’s core.

Sadly, the Bay Area is not alone in this. In virtually every major “up-market” city in the nation, gentrification and rising housing costs are major issues. Rents in Denver have nearly doubled in three years. Housing prices in some locations have tripled in less than a decade. Yes, their economies are booming, but incomes for the majority have not nearly kept pace with housing prices. Across the nation, and in globalized cities like London or Rio de Janeiro, the relationship between how much most of us earn and how much it costs to acquire housing is fundamentally broken… (more)

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