Housing is so expensive in Palo Alto, California that its own housing official can no longer afford to live there and is resigning.
“After many years of trying to make it work in Palo Alto, my husband and I cannot see a way to stay in Palo Alto and raise a family here,” wrote Kate Vershov Downing onNewCo Shift.
The Bay Area has suffered from an affordable housing crisis, as rent costs in San Francisco increase with demand. A similar report out in May shows that demand is trickling down south into the peninsula and Silicon Valley.
“The median price paid for a new or existing home or condo in the nine-county region reached $700,000 in May,” a 6.3 percent increase since May 2015.
“Time and again, I’ve seen dozens of people come to both Commission meetings and Council meetings asking [the] Council to make housing its top priority,” Downing wrote. She then accused the City Council of charting “a course for the next 15 years of this city’s development which substantially continues the same job-housing imbalance this community has been suffering from for some time now.”
Due to high-paying tech jobs in the region, most renters and homeowners are willing to pay more for housing. Downing’s husband is a software engineer while she works as an attorney. If they aren’t even able to afford to live in Palo Alto, “then all of our teachers, first responders, and service workers are in dire straits.”
The problem is so severe a nonprofit organization was started in Oakland to help teachers who can’t afford housing in the area.