San Jose's Intergenerational Mobility
Joyce Park stashed this in Silicon Valley
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San Jose used to be the best place in the entire country for class mobility... but is it still today?
Some San Jose residents say that as inequality has grown in recent years, upward mobility has become much more difficult to achieve.
As Silicon Valley has become home to more successful companies, the flood of people to the area has caused housing prices to skyrocket—median sale price reached $830,000 last year. By most measures, San Jose is no longer a place where low-income, or even middle-income families, can afford to live. Rents in San Jose grew a whopping 42.6 percent between 2006 and 2014, which was the largest increase in the country during that time period. The city has a growing homelessness problem, which it tried to address by shutting down “The Jungle,” one of the largest homeless encampments in the nation, in 2014. Inequality is extreme: The Human Development Index—a measure of life expectancy, education and per capital income—gives East San Jose a score of 4.85 out of 10, while nearby Cupertino, where Apple’s headquarters sit, receives a 9.26.