Bay Area wages soaring — but still can’t keep up with housing prices

The San Jose Mercury News reports:

The Bay Area’s wages are getting higher, far outpacing most of the country, but more residents are finding their paychecks can’t keep up with the region’s skyrocketing cost of living.

The typical Silicon Valley income — well over $100,000 annually — is now double the national average, according to a Bay Area News Group analysis of ten years of federal data. But while pay here is soaring, the cost of housing is rising even faster.

Yet, the Federal Reserve says inflation isn't a problem.