“Our family has been priced out! Has the Bay Area gone crazy? Real estate prices have doubled in the last few years, a tent in the backyard can rent for $900/month, foreign investors are driving up prices, evictions and rent hikes are everywhere, people are commuting longer than ever, the middle class is disappearing, empty investment homes are everywhere, and locals are leaving in record numbers. The worst part? Some people are calling it “progress”.”
This is a really hot topic. There are over 2,800 comments on this video at YouTube.
Here’s another closely related video about people in Silicon Valley who are living in vehicles instead of paying outrageous rent. Some of these people earn over $100,000/year but choose to live simply in a custom van or motor home in order to beat the unusually high costs in the area. My prediction is we’re going to see more and more of this sort of thing as rents and cost of living continue to rise, and incomes and job opportunities stagnate.
Related: Real Estate Wars
Wow, look at the eviction map at 7:34. The San Francisco city map is covered in red.
Tables Turned: High-Paid Techies Priced Out Of Silicon Valley
Related: Hotel Walmart
4 thoughts on “Million Dollar Shack: Trapped in Silicon Valley’s Housing Bubble”
Here are some videos about folks who left the sysstem and are living in rv’s and cars and vans.
very empowering to watch these and dream of the possibilities!
That final comment in the Million Dollar Shack film, the ‘wealthy real estate agent’ saying folks who grew up there and others who have ‘less education’ than the techies and being priced out of the area, “well they just need to work harder…blah blah blah.”
such a blind lack of compassion and worship of the soon to be dead dollar…
Even 6-figure Google techies are being priced out now. It’s turning into a gambling atmosphere for the super rich, many of whom don’t live there. This is not sustainable.
Search for house price charts online. The same type of runaway property speculation by millionaires and billionaires is also happening in other cities like Vancouver and London. It’s like a real life game of monopoly with no concern for people who live there. Even 6-figure income Google employees are having to move out.
Many of these “investors” then leave the homes empty!
What a strange surreal life those folks have, completely cut off from their real true self.
Yet, even where we live in rural Appalachia, there are “better off” folks who would rather leave homes empty than to have someone live in them.