East Bay Business Times: "The Bay Area is one of the most expensive regions to live in the United States, driven largely by the exorbitant cost of housing. Only 19 percent of Alameda County residents and 12 percent of Contra Costa County residents could afford a median-priced home in March 2003, according to the California Association of Realtors."
"The Bay Area region is the most productive region in the country - 84 percent more output per capita than the national average - because of its work force and leading technology. But, when productivity is adjusted for the cost of housing, the competitive advantage drops to 36 percent - a sobering reality. This "deep discount" on regional productivity, coupled with the flight of capable workers, cripples the Bay Area's competitive advantage."
