NASDAQ city San Francisco. The stocks of the overvalued tech stock market such as Google, Apple, Twitter, Facebook have driven property values through the roof in San Francisco.
In a free market sense these companies are mis allocated capital. In the sense of saving the US system and keeping it functioning they are short term essential to helping in the survival of normalcy in America.
The US sustains it’s economy by creating monetary bubbles. The last three bubbles that were blown are the first dot-com boom, followed by the housing boom, followed by this 2.0 tech boom in the Bay Area of California.
This monetary bubble can not be created with stocks that for most part have known earning metrics like Johnson and Johnson say set to grow at 7 percent a year , instead to create the bubble the system needs stocks that have no metrics or metrics that are difficult to gauge so a very large monetary bubble can be created. This money is distributed to society at large by the tech people in the form of going to restaurants and buying houses . In the Bay Area region though this creates imbalances such that the workers needed to sustain the infrastructure for the city and provide services to these wealthy recipients of the tech bubble are being priced out of the region.