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Saturday Morning News

Silicon Valley Tech Boom Forces Out Longtime Residents

Aired November 25, 2000 - 8:43 a.m. ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

MILES O'BRIEN, CNN ANCHOR: Well, one strong piece of the booming American economy that is spreading U.S. technology all around the move, but here at home the effects of that success are not good for everyone, as CNN's Rusty Dornin reports.

(BEGIN VIDEOTAPE)

RUSTY DORNIN, CNN CORRESPONDENT (voice-over): He was born and raised here, but when 28-year-old David Buckmaster, mayor of San Carlos, California, tried to buy a home in his hometown, he found that the city known for good living had closed its doors.

MAYOR DAVID BUCKMASTER, SAN CARLOS, CALIFORNIA: It's continually gotten worse. At one time there was a chance when we could afford a home. Now, it's two or three times out of our price range. This house would probably be going for anywhere between $700,000 to $800,000.

DORNIN: So Buckmaster is giving up his gavel and moving someplace he and his wife can afford. San Carlos, 20 miles south of San Francisco, was once a middle class bedroom community. Silicon Valley changed all that.

(on camera): The median price of a house in San Carlos is $780,000. With sticker prices like that, a lot of hopeful home buyers have no choice but to look somewhere else.

(voice-over): Somewhere else for fire captain Mike Miller is 50 miles away.

CAPT. MIKE MILLER, SAN CARLOS FIRE DEPARTMENT: Love to live here, but I can't afford to and I just don't want to leave it.

RUBEN BARRALES, JOINT VENTURE: We are creating a situation where only those who are most successful economically can actually participate in a meaningful way in the region here.

DORNIN: Meaning those who participate on a lesser economic scale, like waitress Laura Santaga, are left out.

LAURA SANTAGA, VIC'S RESTAURANT: I was born and raised here in San Carlos and I find it really sad that I can't even afford to live here. DORNIN: It doesn't make headlines when police officer Tony Medina (ph) can't afford the rent here, but Buckmaster says if it continues, it will.

BUCKMASTER: This is going to be the thing that will stop the economic engine of Silicon Valley is that most of our employees can't afford to live here.

DORNIN: In this case, neither can the town's leaders.

Rusty Dornin, CNN, San Carlos, California.

(END VIDEOTAPE)

KYRA PHILLIPS, CNN ANCHOR: Well, here's a city that wouldn't be too expensive to live in and the people there are supposedly the friendliest in the nation. Charleston, South Carolina has won top billing from a national etiquette expert as the most mannerly city in the U.S. The city, full of southern charm, has been on the list for 24 years now and a legislator for Charleston says he's not surprised about the ranking, that it's a southern custom to be polite to people even though you might disagree with them.

Also on the list, Seattle, Washington, Savannah, Georgia, the windy city of Chicago and Milwaukee, Wisconsin.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com

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