There were so many interesting moments in the presentation by eminent economic geographer Michael Storper April 30. One of the more remarkable things he said: For the richest 30 percent of the population, housing costs as a percentage of income have actually gone down in San Francisco. That’s right: The issue isn’t a “housing crisis” for the top third of the population; it’s an affordable housing crisis for everyone else.
Storper talked about why he doesn’t think the theory of “filtering” — that is, the idea that if you build high-end housing prices will eventually fall at the other end of the spectrum — doesn’t work.
it was a fascinating discussion, and the video is now available. Check it out: