Blame policy, demographics, and market forces
Nearly two-thirds of renters nationwide say they can’t afford to buy a home, and saving for that down payment isn’t going to get easier anytime soon: Home prices are rising at twice the rate of wage growth....More
When Paul Wickboldt moved to the Bay Area from Boston more than two decades ago, he settled in Walnut Creek for the same reasons many families choose the suburbs: good public schools, safety, a backyard for the kids to play in, and the pleasure of knowing his neighbors....More
From August 2018
In the coming years, an increase in Millennials forming households will create robust demand for both single family homes and apartments. Why inadequate supply over the long term may bode well for apartment REITs....More
California finally is beginning to consider solutions to its housing crisis that are on the same scale as the problem.
The state is desperately in need of more housing. Home prices are the highest in the continental United States, and population growth continues to outstrip construction....More
“…The practical implication is that we shouldn’t be talking about housing affordability in isolation.
We should really be talking about “affordable living” rather than “affordable housing.”
If your rent is low, but you have to spend a disproportionately large share of your income on transportation, then your living situation isn’t affordable…”...More
“…This year, eight major tech companies are expected to hold initial public offerings. The first, Lyft, took the public-market plunge last month.
Yesterday, Pinterest did. Airbnb, Instacart, Palantir, Postmates, Slack, and Uber remain.
Amazingly, all but Palantir are headquartered in San Francisco, currently home to only five other public software companies—Dropbox, Salesforce, Square, Twitter, and Yelp…”...More
A huge influx of both apartments and people will hit West Oakland BART station in the coming years, and it could start at 500 Kirkham St.
Developer Panoramic Interests will seek final approvals from the Planning Commission this spring for its 1,032-unit project, a go-ahead that would come after three redesigns, a fight over parking and years of planning....More
SB50 Opens Gentrified Neighborhoods to Working and Middle-Class Residents
California’s SB 50, with lead co-sponsors Senators Nancy Skinner and Scott Wiener, expands housing opportunities for working and middle-class tenants who have been priced out of cities. So why do many tenant groups oppose the measure?...More
“…The Chronicle reported earlier this week that tech companies have leased 2.2 million square feet of San Francisco office in the first three months of this year.
That’s enough space to fill nearly two Salesforce Towers. And that’s in only three months…”...More