doctorhousingbubble.com / Dr. Housing Bubble / October 23rd, 2015
You know it was only a matter of time that the Bay Area real estate madness was going to be captured in a new documentary. The documentary seeks to highlight the plight the middle class in California is having in affording housing. Forget about buying a home, many are struggling to pay the sky-high rents that plaster the Bay Area market. The tech sector is making the epic gentrification accelerate and with 24/7 media coverage, we are seeing it happen in real-time. The Bay Area is home to the$1.2 million crap shack that is basically the standard piece of junk property. It is interesting to see this story being told through documentary format and it is a counter to all the house-humping TV shows that are out there plastering cable. What is interesting is the documentary looks at how the middle class is getting squeezed right out of the market.
The Bay Area real estate mania
The documentary is aptly called Million Dollar Shack – probably a nicer sounding title than Million Dollar Piece of Crap:
“(SF Gate) Million Dollar Shack aims to share the plight of the Bay Area’s middle class who are slowly being squeezed out by the high-priced cost of living. “The bigger the tech industry gets, the less room there is for families like us,” Michelle says at start of the film.
The message is communicated through a collection of personal anecdotes from Bay Area locals. There’s the story of Deb Follingstad whose San Francisco landlord raised the rent on her home in San Francisco’s Bernal Heights over 300 percent. And there’s the tale of Maryann Creasy Rieger who was forced to commute some 180 miles a day between her home in Fairfield and her job at Yahoo on the Peninsula when CEO Marissa Mayer put an end to telecommuting. Maryann couldn’t afford to move closer to her job.”
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