San Francisco’s 1 Percent: Tech Wealth’s Displacement Effect

U.S.

The numbers don’t lie. The median monthly rent in San Francisco has jumped 27% since 2011 — from $2726 to $3475. No-fault evictions have doubled from 2012 to 2013. Working-class residents who have lived in the city for years, even decades, have effectively been forced out. The finger is being pointed squarely at the tech industry.

The recent protests against Google buses — private shuttles that ferry tech workers to and from Silicon Valley — have been the latest manifestation of this ire.

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