Real estate prices are causing dilemma in south cities, they're certainly taking hits on the people in the area.
Tony Clifford, CEO of the South San Francisco-based company said "A good percentage of our work force lives outside the area. We've got people coming from across the Bay to be a teller," It's obvious that housing projects are om the verge of rising, and as a result few there have been few South City workers who can afford to live at the same place of their work.
There have been a number of its local industries that has been affected ranging from Clifford's bankers to city employees, all same dilemma.
Norma Fragoso a Redevelopment manger,confirms that it's really a serious problem. She said that "Our city workers, retail workers, hotel workers and teachers can't afford $750,000 homes," and adds "We've got people driving in from Paradise to work here."
A retired meat cutter Councilman Pedro Gonzalez, states the he is in somewhat disturbed by the high-rise of housing prices in South City, in where median home price, reported by San Mateo country Association of Realtors is about $711,000.
Gonzales said that in todays market there is no way he can afford to purchase a home. "We know that San Mateo County, San Francisco and Santa Clara County are very expensive places to live," and adds "Here in South San Francisco, we're making an effort to provide housing for low-income people — and give priority to our teachers, firefighters and other employees." He hopes the efforts will eventually pays off.
Genentech, a biotechnology giant, which has a headquarters in South San Francisco for about 30 years, has been doing their community part on recruiting local workers to work for them. They have a partnership with Skyline College Bio-Manufacturing, they train workers from other fields for jobs at Genentech. Although a great effort it still limits the people who lives in the city about the choice of work they have to work with.
The community is taking big hits, considering the price of homes are extremely high these days, it limits the workers to live in the South City, the demand for it's home-prices are "not affordable" says one employee. Nevertheless the City's company's are making way to local residence to have jobs in the said city.
As long as the real estate prices keeps climbing up,there will be little chance that the local employees can afford it, outside employees would most definitely benefit, but how about the locals? They really need to make things happen, real estate prices has been really causing damage to some industry because of it's overwhelming prices.