Report: Bay Area Still Kicks Ass

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The Bay Area Council Economic Institute (whew!) has issued its latest biannual report, and we're still really, really rich. Like up there with New York, Tokyo, and London. We've got the fourth-largest concentration of Forbes 1,000 global companies and more global subsidiaries than we know what to do with. However, the East Bay Business Times reports, we still haven't dealt with the high cost of housing, traffic congestion, and lousy schools. Here's the most interesting part: contrary to our long-held myths about being the hub of young tech geeks forging a new world, the Bay Area is actually getting old. The report claims that a substantial portion of the workforce will hit retirement age in the next fifteen years, and we'll have to start figuring out how to deal with a large elderly population.

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