Background
In the San Francisco Bay Area, between the mid- and late- 1990’s, the bustling information economy brought multitudes of young people to the Bay Area and Silicon Valley’s technology-inspired new economy. Housing was notoriously difficult to find, with vacancy rates at less than 2%. During this period, average rents increased by 30% and the cost to buy increased dramatically. Although the economic recession triggered by the dot-com bubble brought the city’s vacancy rates to pre-boom levels, the Bay Area continued to encounter pressure for new housing development due to extraordinary levels of unmet demand and its high profitability. This phenomenon occurred elsewhere in California and throughout the country, in both urban and suburban settings.
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Famous quotes containing the word background:
“Pilate with his question “What is truth?” is gladly trotted out these days as an advocate of Christ, so as to arouse the suspicion that everything known and knowable is an illusion and to erect the cross upon that gruesome background of the impossibility of knowledge.”
—Friedrich Nietzsche (1844–1900)
“I had many problems in my conduct of the office being contrasted with President Kennedy’s conduct in the office, with my manner of dealing with things and his manner, with my accent and his accent, with my background and his background. He was a great public hero, and anything I did that someone didn’t approve of, they would always feel that President Kennedy wouldn’t have done that.”
—Lyndon Baines Johnson (1908–1973)
“Silence is the universal refuge, the sequel to all dull discourses and all foolish acts, a balm to our every chagrin, as welcome after satiety as after disappointment; that background which the painter may not daub, be he master or bungler, and which, however awkward a figure we may have made in the foreground, remains ever our inviolable asylum, where no indignity can assail, no personality can disturb us.”
—Henry David Thoreau (1817–1862)