Almost none of my tens of thousands of readers live in San Francisco. So I seldom write about San Francisco unless I believe there is a larger lesson.
In my own neighborhood the Castro, there is the most startling explosion of new houses, newly remodeled houses and expansion of existing houses. I'm talking thousands of units in a small geographic area. The Castro district centered on the dying Castro gay commercial center is a booming residential area.
What is important are the three phenomenon that I associate with this. First this is a gay neighborhood that makes certain that it is safe, ultrasafe in fact. Second it is automatically aesthetically desirable.
Third, it is very casual in this social milieu which is suited perfectly to the successful business people in the new Internet boom. This is in distinct contrast to the northern Pacific Heights section of the city which is made up of fancy clothes, social climbers and self defined elites.
It is important to note that new wealth hides itself in casual clothing at work and in leisure. Such is particularly common in the Castro gay neighborhood.
The lesson here is: a new neighborhood will bloom today if it is safe, attractive and avoids social climbers.