"The real reason only rich people can afford to live in Silicon Valley"
Badger blames rising demand for the high cost of living in these cities. But the real culprit is strict regulations that make it almost impossible to expand the housing stock in most parts of these cities. . . .
It doesn't have to be this way. The Bay Area has plenty of room for more housing. San Francisco is less than half as dense of Brooklyn. Surrounding communities are a lot less dense than that. If housing regulations were relaxed, developers would make room for millions of new residents, creating thousands of construction jobs in the process. That would alleviate the severe housing shortage currently plaguing the city. And it would create opportunities for millions of non-wealthy people to live near the opportunities and amenities of America's high-tech capital.