Silicon Valley Expands Unevenly

Income inequality grows, but no bubble ahead.

SANTA CLARA, Calif. — Silicon Valley's economy continued to expand in 2014 and is not approaching a bubble but does face serious issues with uneven distribution of wealth, poverty and an over-burdened infrastructure, according to the annual Silicon Valley Index.

"The nation's hottest economy is getting hotter," said Russell Hancock, the chief executive of Joint Venture Silicon Valley, the non-profit made up of public and private organizations in the region that publishes the report. "Is it all going to come crashing down on us? Our sense is its not," he said, citing the dotcom bubble that burst in 2001.

However, the latest index did underscore the region’s lack of affordable housing, a declining middle class, stagnating wages among the lowest earners and gender inequality among its problems.

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