San Francisco has the second biggest income gap in America. For those of us living in the bay area for the past few years it is no news to us that housing and rent prices are through the roof. Evictions are becoming the norm for people who have called the bay area home for so long.
The problem is fairly complicated, but it essentially boils down to supply/demand. Prices are going sky high because there isn’t enough supply of housing to keep up with demand. To hit a market equilibrium, economics 101 tells us that it is inevitable for prices to rise.
Although, I’m not sure what the right answer is it is interesting to see that our capitalist economic system and the laws of supply/demand are creating this issue. As people are getting evicted, some are saying it isn’t fair for people who have called San Francisco home for so many years to be forced out.
I wonder what a more compassionate decision making system would look like. A new system, where decisions aren’t solely made to maximize the bottom line, but where other factors are taken into account – like compassion, giving, culture, attitude.
Today people are driven out of neighborhoods based on their bank account balance, and what isn’t taken into account is how that person contributes to the social fabric and culture of that community. I know that this sounds idealistic, too subjective, and possibly communistic, but it is an interesting thought experiment on how to incorporate other non-capitalistic factors into our societal decision making framework.