SAN FRANCISCO — Some of the biggest tech companies in the world, headquartered in the San Francisco Bay Area, has also meant a tech boom and bigger pay, with a bigger demand for luxury housing.
Unfortunately, this meant gentrification — and for some, eviction from their own neighborhoods — for some original San Franciscans and immigrant families.
Amid the pandemic, there has been a record rental-drops in San Francisco, with tech workers leaving the city as companies began adapting work on a remote basis.
Recent data shared by apartment rental website Zumper showed that one-bedroom rents are down from $3,700 to $3,200, a 12 percent drop across San Francisco, making the city’s decline the biggest in the nation.
Filipino housing advocates and city-planning leader Theresa Imperial reacts to the city’s unaffordable housing system, and the dropping price of rent during the COVID-19 pandemic.
Amid the pandemic – there’s been record rental drops in San Francisco — with tech workers leaving the city — as their companies began adopting remote work on a long-term basis.
Imperial sits on the city’s planning commission and is the executive director of the Bill Sorro Housing Program, a non-profit which advocates for affordable housing.
She said even a 12 percent drop in the renter’s market this year doesn’t help.
San Franciscans will join others across the u-s as millions could face eviction once enhanced federal unemployment insurance expires at the end of the month and eviction bans across the county are lifted.
Housing experts said that a swift recovery of the u-s economy with the addition of more federal aid will help people, who are disproportionately women and people of color, keep their homes.
The House of Representatives on July 13 passed a bill that would allocate $100 billion to rental assistance programs and $75 billion for mortgage relief.