Noah Smith, Columnist

How Affordable Urban Housing Stays Affordable

NIMBYs may not like the answer, but it's the law of supply and demand.

This photo is always used when discussing high San Francisco rents.

Photographer: David Paul Morris/Bloomberg
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Living in San Francisco, it’s hard not to notice the city’s changing demographics:

San Francisco’s black population has declined, and though the city's Hispanic population has risen, it has fallen in some historically Hispanic neighborhoods like the Mission District. Meanwhile, some projections indicate that the city will have a lower percent of black and Hispanic residents in the years to come.