Ben Bernanke mad money printing has hit the Silicon Valley head on and is creeping north to the city by the bay. San Francisco is no longer covered by just fog, but also by Bernanke newly printed money.
The cost of occupying office space in San Francisco soared the most of any market in the world as technology companies such as Salesforce.com and Mozilla Corp. fueled leasing in the city, according to broker CBRE Group, reports Bloomberg.
Occupancy costs -- rents plus local taxes and service charges -- surged 36.4 percent in downtown San Francisco to $90 a square foot in the year to Sept. 30 CBRE said in its semiannual survey of world office markets. That was the biggest jump among 133 areas globally.