A Note from EBALDC’s Leadership
Between 2010 and 2016, the Bay Area added 500,000 jobs, but only 50,000 housing units. With a large influx of people moving to the region, hundreds of thousands of people were priced out of the region and thousands became homeless. This displacement of long-time residents is being repeated in cities all over the country, as people who once chose the suburbs are now choosing cities.
In the Bay Area, we do not have the capacity to build fast enough to keep up with increased demand, so this change in housing preferences is driving up prices in the city. With limited supply, and when market forces are left unchecked, low-income residents are priced out. |
