Important attention has been drawn to the shameful condition of middle income housing affordability in California. The state that had earlier earned its own "California Dream" label now limits the dream of homeownership principally to people either fortunate enough to have purchased their homes years ago and to the more affluent. Many middle income residents may have to face the choice of renting permanently or moving away. read more »
The United States and Europe continue to dominate the list of strongest metropolitan areas (city) economies in the world, according to the Brookings Institution's recently released Global Metro Monitor 2014. This is measured by gross domestic product per capita, adjusted for purchasing power parity (GDP-PPP). read more »
In this predictably difficult year for the Democrats, the party of the people is turning, of all people, to its plutocrats. However much the party stigmatizes right-wing billionaires like the Koch brothers, a growing proportion of America’s ultra-rich have become devoted Democrats, giving them an edge in fund-raising. Indeed, an analysis of billionaire contributors this year by Politifact found that 13 supported liberals while only nine backed Republicans. read more »
This week I’m helping a friend move house after watching her grapple with some unappealing options for the last couple of years. In the end she’s leaving San Francisco and moving to the suburbs forty-seven miles to the south. She absolutely hates the suburbs, but given all the possibilities it really is the right thing to do under the circumstances. Here’s a little background. She attended Berkeley University in the 1990′s as a foreign exchange student and fell in love with the Bay Area. read more »
Silicon Valley’s biggest names—Google, Apple, Intel and Adobe—reached a settlement today in a contentious $3 billion anti-trust suit brought by workers who accused the tech giants of secretly colluding to not recruit each other’s employees. read more »
For seven decades urban planners have been seeking to force higher urban population densities through urban containment policies. The object is to combat "urban sprawl," which is the theological (or ideological) term applied to the organic phenomenon of urban expansion. This has come at considerable cost, as house prices have materially increased relative to incomes, which is to be expected from urban containment strategies that ration land (and thus raise its price, all things being equal). read more »
The New York Times ran a Timothy Egan editorial on California on March 6. The essay entitled Jerry Brown's Revenge was reverential towards our venerable Governor. It did, however, fall short of declaring Brown a miracle worker, as the Rolling Stone did last August. These and other articles are part of an adoring press's celebratory spasm occasioned by the facts that California has a budget surplus and has had a run of strong job growth. read more »
Third-generation venture capitalist Tim Draper believes he has a solution for California's problems that will make the Silicon Valley safe for its wealthy: secession. In a recent interview, Draper suggested that California be divided into six states, including one dominated by the Valley and its urban annex, San Francisco. read more »
Is New York City ready to contest in high-tech against Silicon Valley? Fuggedaboutit.
Gotham is so far behind in every conceivable measurement — from engineering prowess to employment and venture funding — that even the idea is somewhat ludicrous.
While Madison Alley has marketed the city’s tech prowess before, going back to when owners of lower Manhattan real estate promoted “Silicon Alley,” the action has been elsewhere. read more »
In an upcoming study I am working on with Chapman University’s Center for Demographics and Policy, we show that San Francisco and Houston are North America’s “emerging” global cities. They are also rival representative champions and exemplars of two models of civic development. San Francisco is the world’s technology capital; focused on the highest levels of the economic food chain; paragon of the new, intangible economy; and promoter environmental values and compact development. Houston is the closest thing to American laissez-faire; unabashed embracer of the old economy of tangible stuff, including unfashionable, but highly profitable, industries like oil, chemicals, and shipping. read more »