Silicon Valley Tech Workers Seek Stable Jobs as Opposed to High Salaries: Study
By Rhea Mahbubani : nbcbayarea – excerpt
In a sign of changing times, Silicon Valley tech workers appear to be trading higher salaries for stable jobs.
According to the Mercury News, a study conducted by job-hunting platform Woo shows that engineers and tech professionals’ average salary request reduced by nearly 13 percent in the first quarter of 2016… (more)
Stories about Layoffs and salary in Silicon Valley bring up a question I keep asking about the Affordable AMI income levels that are being used to determine who gets into the affordable housing lotteries. (Yes, they have housing lotteries for qualified “low, moderate, and medium income applicants to get into the Affordable housing units City Hall has been establishing.)
My question is: What happens when salaries and the economy take a downturn and the AMI (average medium income) shifts downward? Do the affordable unit rents and sales prices shift downward as well? Who takes the risk? The developer or the public who is supplementing the rents? do the rents go down or stay the same? How does this effect the eligibility levels of new Affordable units? If you sign up as a medium income applicant, but lose your job before you “win” the lottery, do you get kicked off the list and have to sign up as a low income applicant?
How does a shift in fortunes effect an affordable housing tenant’s “right” to stay put once they are housed? Must they move from one unit designated as “medium” to “low” when you retire? Or, if they get a higher paying job are they forced out of the affordable unit?
Is there a plan to track these things?