This is starting to happen in coastal LA and the South Bay, caused by SpaceX instead of the AI companies. The number of millionaires minted by one IPO is going to have a big impact on our tight housing market, none of it good for middle class folks.
California YIMBYSF is about to get flooded with AI IPO wealth. The Chronicle warns that w/o more housing, it will price out the middle class again. A transfer tax cut projected to cut $32K per home got shelved. What's left: inclusionary reform, single-stair construction. www.sfchronicle.com/opinion/edit...