I don’t love how this WSJ article starts. It seems to place the blame on technology companies for “pumping the west coast full of choking traffic and expensive homes.”
But I do really like these charts:
They show the gap between the increase in labor force and the increase in housing supply across the various cities in Silicon Valley.
The solid line is the percentage increase in labor force since 2010 and the dotted (bottom) line is the percentage increase in housing units since 2010.
The darker the color, the bigger the gap.
Many new jobs. Lots of wealth created. Not nearly enough housing. And yes, there have also been a number of negative externalities.
The full article is definitely worth a read. It’s about Google’s development plans for downtown San Jose.