San Francisco’s Mission District, known for its vibrant Latino culture might soon be a thing of the past. A new study shows that the Latino population is increasingly being squeezed out of the neighborhood by steadily growing housing prices.
So, what exactly does that mean? Well, looks like the Mission District will experience a sharp decline in its Latino population over the next ten years.
Wondering how it all came about? Let’s just say that the booming tech industry has plenty to do with. As it turns out, the skyrocketing rent costs have been attributed to the Silicon Valley’s rapid growth in the tech sector, according to Mashable. The boom has ushered in a new class of wealthy workers.
But, not all is lost. Looks like city representatives are looking to address the gentrification problem, and they’ll need a solution sooner rather than later. If an agreement isn’t reached between the city and the big developers, the Mission’s culturally rich and diverse population could be wiped out.