General Discussion
In reply to the discussion: With Soaring Rents and a Vanishing Middle Class, San Francisco Becomes a City for the Rich [View all]AZ Progressive
(3,411 posts)again.
Big cities emptied during the white flight - suburban era during the latter half of the 20th century, and since at least the beginning of the millennium, big cities and especially urban life have become popular again to live in. Millennials are also driving this trend, preferring to live in big cities rather than suburbs. Suburbs seem to have reached their peak during the baby boomer wave, but Millenials are not following their parents and thus demand is higher than ever for living in big cities. This is intensified in San Francisco with the big money of Silicon Valley coming in, because many Millennial techies would rather live in San Francisco than Silicon Valley, and many of the newest tech startups are being established in San Francisco. These techies in San Francisco have the ability to pay those astronomical rents.