Silicon Valley Gains Stuck by Housing

Silicon Valley’s global‑scale tech profits mostly raise national averages without delivering equivalent local prosperity because restrictive housing and transport policy prevents labor and ancillary industries from scaling where the firms are headquartered. The result is concentrated wealth, constrained regional growth, and limited spillovers to middle‑America despite apparent national gains. — If true, debates about tech’s societal value should shift from taxing billionaires toward pro‑growth housing and transit reforms that enable real geographic diffusion of tech-generated prosperity.