Exodus Of San Francisco's Middle Class

Glenn Reynolds links to San Francisco Chronicle staff writer James Temple, who describes “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.”

Last year, USA Today noted,