Farhad Manjoo’s piece in the New York Times caught my eye recently and struck a chord. It describes the awful wealth gap that is increasing, seemingly by the day, with each newly minted tech billionaire in the San Francisco Bay Area. He reports that despite the fact that “the annual household income necessary to buy a median-priced home [in San Francisco] now tops $320,000,” California lawmakers recently killed Senate Bill 50, which would have undone zoning restrictions in the state. Changing these zoning restrictions would make it possible for more dense housing to be built, thereby increasing the supply and providing some relief to the non-billionaires in California.
