A 26-year-old MIT graduate is turning heads over his theory that income inequality is actually…
Greg Ferenstein
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Housing is only one part…

The housing market in places such as the Bay Area is unsustainable without really significant regional reforms. For example, towns such as Menlo Park, Palo Alto and Mountain View enjoy skyrocketing real estate values but consistently refuse to allow further housing to be built. However, there is an even bigger issue that expresses the dynamic of pervasive inequality in the Bay Area: the absolutely disgraceful neglect of the public school systems in virtually every city. To ensure a quality education through the high school years, you must a) move to one of the towns noted above; b) spend $40,000–50,000 a year for private school for EACH of your children. Otherwise, they are consigned to arguably one of the most underfunded and unaccountable public school systems in the country. (Example. Menlo Park’s public elementary and middle schools have a foundation that is funded to the tune of millions each year by the local VCs and corporate executives who commit to the public schools in their town. This is laudable, but is not being reproduced elsewhere, particularly in places like San Jose.) The fact that nowhere near enough housing is being built worsens this dynamic. The disgraceful performance of California public schools in the wealthiest communities in the country is a factor that I think this study should be taking into account.

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