Background to this video: Basically, residents in San Francisco are being priced out of living in the city-especially the Mission district mentioned in the video-because Google, Twitter, and Facebook are located nearby or within the city. The influx of these “white” and “techie” employees is creatingahuge increase in the housing market; housing in SF is equal to NYC. Most locals can’t afford this, and landlords are raising rents to make the most profit, so residents are forced to move to the East Bay where housing is cheaper.
Of course more housing is being built, but only apartments or studios that are over $2000 per month. And who is most likely able to afford suchaprice? The “white techies” employed by these companies.