Somehow, San Francisco is getting even more expensive.
While the whole country is feeling the pressures of inflation, rental prices are up 25% in San Francisco since last year, and electricity prices in California are 78% higher than the national average.
We asked city dwellers: What would make San Francisco more affordable for you?
Lynicia Thomas, a mom who works from home, says managing expenses is hard right now. “The housing, food, everyday expenses, all of it. It's affecting me.”
Justice Jones says that the system isn’t working. “I see a lot of marches, I see a lot of protests, and I see people at the steps. Apparently, they're not being heard."
When asked about affordability, Gloriana Darwin brought up the tech industry and income inequality. "Because you know how it goes. If you got that kind of money being made in the city, then they're gonna charge you just that much."
And with the AI boom in full swing, the city’s wealth gap is expected to increase even more when some of the industries biggest companies IPO. When Open AI goes public, for example, the average employee is expected to become a multimillionaire.
In November, voters will decide on several local and state measures that are trying to address the affordability crisis.
Like Prop 40, California’s billionaire tax, and Prop 37 which aims to create low mortgages for homebuyers.
In San Francisco, there are three key affordability measures on the ballot: Prop C and Prop I are both aimed at raising funds for affordable housing initiatives.
Prop B takes an important step towards establishing a city-owned public bank, which could be a long-term funding source for community-focused projects like affordable housing, green energy, and small business development.
Hannah Clemmensen is a musician who used to live in San Francisco.
“San Francisco's the only place where I can live as a blind person independently. It's really heartbreaking that the only place that I can be the person that I really want to be is a place that I can't afford to live in because housing costs are just too high.”
Even though Clemmensen no longer lives in San Francisco, she hopes for a city less influenced by money and Big Tech.
