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- The enormous wealth that's pouring into Silicon Valley ought to be trickling down to at least some extent as a vast array of local service providers gain jobs and income as chefs, waiters, doctors, nurses, yoga instructors, gardeners, interior decorators, taxi drivers, accountants, opthamologists, tailors, and housekeepers to the new money elite. Instead, Norimitsu Onishi writes that "the tech boom is also sharpening income inequality and fueling a housing boom that is squeezing families out of many Silicon Valley communities."
He's right on income inequality, but he's dead wrong on the housing boom.