But that IS his point. People without money bought homes because they had to stretch further to pay the higher prices created by the “demand that has money”, i.e. the tech workers. There are enough tech workers earning over $110K that could pay more for housing, running up the prices for everybody else. There are over 1100 tech companies in San Diego; I have the Excel file. Maybe sduuude will come over here and help me open it, LOL! So these people could pay the higher prices. Low vancies, demand created by people who could pay more prices, and voila, prices go up. That means the other people had to stretch so much more to compete for a home. His theory does have some credibility.
