San Francisco, the city I live in, is a beautiful city. It has nice weather, and it also has many tourist attractions. People from different countries come to San Francisco to travel. However, there is a lot of homeless people and gentrification here. Poor neighborhoods in San Francisco are changed by middle-class or affluent people, including the repairing and rebuilding of houses and businesses. If I can improve my city, I would decrease the prices of houses for homeless people and create laws that advocate for them.
I would also limit the number of houses each person can buy so that the homeless people have houses to live. One of the reasons that caused the homelessness and gentrification in San Francisco is that a lot of business people and companies are in San Francisco.
It caused the commodity price to increase, such as houses. In San Francisco, the house median sales price was $666,000 in 2012, but after 6 years, in 2018, it increased to around ,600,000.
The condo median sales price is $646,000 in 2012, and it increased to 1,200,000 in 2018. Many people with lower income cannot pay for the expensive houses, so they become homeless. Nearly two-thirds of American families of four live on less than San Francisco’s ‘low-income’ threshold of $117,400. To change it, the government should pay the people with lower income more money by increasing the hourly wage, so that they have enough money to pay the high-priced taxes and buy necessities for themselves. If the people that have a lower income can afford the necessities and taxes in San Francisco, the next thing that we have to work on is the income disparity gap.
Another reason that caused San Francisco’s homelessness and gentrification is the income disparity gap. People like business executives, attorneys, and physicians have a higher income, but some people like cashiers, bartenders, have a lower income. I think there are two reasons caused this: family and race. I also think that they are connected because race can be one of the reasons a family is wealthy or not. White families are most likely wealthier than black families. People from wealthy families, or have a family background, can get jobs easier than others. They are able to receive higher education than others, and their family can somehow help them get a job. Higher education helps people get a better paying job. According to Peter Osborn, a professor at Cornerstone University, the median usual weekly earnings of people with a high school degree is $678 in 2015, but people with.
A doctoral degree have a $1,623 weekly earning, which is higher than high school degree people for nearly $1,000. Some of the wealthy families have companies, so their children can work in their companies, or inherit them. For example, Bill Gates’s four children, three daughters and one son have a wealthier family than others. They were able to go to better colleges such as his eldest child, Jennifer, who went to Stanford University. Her successful father helped her to have their own success in college studying human biology. Not only family, but people’s race also affects their income. In San Francisco and a lot of other cities, white people can get a job easier than black people because of their race. White families have nearly 10 times the net worth of black families, and the gap is still growing. In 2016, white families had a median net worth of $171,000. However, black families only had a median net worth of $17,600 and Hispanics had $20,700.
The last reason that caused San Francisco’s homelessness and gentrification are the investing businesses here. The prices of houses in San Francisco have been increasing a lot these years. As what I mentioned in the second paragraph, the house median sales price increased nearly one billion dollars in six years, and the condo median sales price increased around five hundred thousand in six years, from 2012 to 2018. Many investors buy many old and cheap houses. They spend years renovating them and sell them out at a good price. The home flipping While they are renovating the houses, there are a lot of people that don’t even have a house. My suggestion is that limit the number of houses each person can buy. Homelessness and gentrification in San Francisco are the things that we have to improve on. San Francisco would be better if people can lower the prices of houses, give people with different family, race the same income, and limit the number of houses each person can buy.