In Silicon Valley, home prices are out of control and are unaffordable even for tech workers, according to a survey by Team Blind, which operates an anonymous online community for workplaces. The survey found that 59 percent of tech workers — including many at 13 major tech companies — said they cannot afford to buy a house in the San Francisco Bay Area.
Everybody knows that Silicon Valley is an expensive place to live, but the survey shows that even those who logically ought to be able to afford a home cannot do so. The California Association of Realtors reported a house in San Francisco now runs over $1.5 million on average and that only 12 percent of San Francisco households were able to afford a median-priced single family home at the end of 2017.
Read Dean Takahashi's full article here.