Boom time in the Valley is driving up housing costs and gridlocking traffic, and CEOs are worried about the impact on further growth. The Valley is now 87% more expensive to live in than the average US city. “Silicon Valley’s disconnect on jobs and housing is most pervasive on the Peninsula, where there is a combination of scarce land for development and large employers like Google, Facebook and Stanford. In Palo Alto, the least balanced city in the region by a significant margin, the ratio of jobs to housing is 3-to-1,” reports the Silicon Valley Business Journal. Building out the boonies won’t help people people working in the downtowns. And San Francisco, the hottest tech center, is adding only one housing unit to every seven people who move there. Something’s gotta give.
Photo credits: daily sunny and The Tens / Flickr
