ML-Implode News - The "Housing Crisis" in San Francisco Strangles Demand

For teachers, the math doesn't work out. Average teacher pay for the 2014-15 school year was $65,000. And less after taxes. But the median annual rent was $42,000 for something close to a one-bedroom apartment. After taxes and utilities, there's hardly any money left for anything else.
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These are a scary numbers for the housing market! If only 13% can buy that median home -- when in a healthier housing market, over 50% should be able to buy a median home -- who the heck is going to buy the rest of the homes?

This puts a stranglehold on demand. To sustain these crazy home prices, San Francisco needs to bring in an endless flow of highly paid people, including absentee foreign investors, to replace the teachers and other middle-class households, the artists and shop keepers and office workers, and to push out city employees, nurses, and the like. That's how the process has worked.

But that endless influx of highly paid people and investors is grinding to a halt.

Relevant:

The "Housing Crisis" in San Francisco Strangles Demand