https://www.mercurynews.com/2020/03/09/more-than-80-percent-of-new-homes-unaffordable-for-first-time-buyers-and-renters/

Even as thousands of residents across Silicon Valley struggle to find housing they can afford, most new homes being built in the region are for the luxury market.

The result, as the latest Joint Venture Silicon Valley report made clear, is that more than 80 percent of residential permits issued in the region in the last four years were for homes that are unaffordable to most first-time buyers and renters — say a family of four making around $150,000 in Santa Clara County.