The Exodus of San Francisco's Middle Class

The San Francisco Chronicle reports:

It's urban flight flipped on its head: The number of low- and middle-income residents in San Francisco is shrinking as the wealthy population swells, a trend most experts attribute to the city's exorbitant housing costs.

Many worry it's increasingly turning San Francisco into an enclave of the rich, where nurses, firefighters, cops, teachers and other professionals aspiring toward homeownership or in need of cheaper rent can no longer afford to stay.

"A kind of derogatory term for the city would be Disneyland for yuppies," said Hans Johnson, demographer with the Public Policy Institute of California. "There is a legitimate public policy concern when a city that many people have lived in for many years and regard as their homes becomes so expensive they can't afford to live there anymore."

From 2002 to 2006, the number of households making up to $49,000 per year dropped by 7.4 percent, those earning between $50,000 and $99,999 declined by 4.4 percent, and those bringing home between $100,000 and $149,999 fell by 3.9 percent, according to Census Bureau estimates. In polar opposition, the number of households making between $150,000 and $199,999 surged 52.2 percent and those earning more than $200,000 climbed 40.1 percent.

Unions,land use restrictions,and zoning are no friend to the non-rich in San Francisco.No one would confuse San Francisco with Houston.That's for sure.