“In the trendy, South of Market neighborhood” of San Francisco. That’s where a tech entrepreneur named Jon Wheatley lived, until the painful cost of housing impelled him to move to St. Louis.
Almost $4,000 a month for a one-bedroom apartment? For cryin’ out loud, that’s ridiculous. San Francisco is now a more expensive housing market than Manhattan.
Even the tech companies are getting nervous about their impact.
The impact on San Joaquin County as a housing exurb is to dive up home values, expecially in the south county. That’s a good thing, if you own a home. But the Manhattanization of San Francisco means fewer Stocktonians will ever be able to live in the city; they’ll have to retreat to one of the Queens-like “boroughs” such as San Ramon.
The other impact is the potential to capture some of the digirati. Stockton has the shell of a historic downtown, low prices and a post-come-to-Jesus government culture that now realizes the importance of being business friendly. The city just needs to stay on the rails financially, purge itself of its feckless mayor and continue its successful efforts to reduce crime, and it can happen.