Posts Tagged ‘ San Francisco home prices ’

Home Prices Drop in January – BTW it’s April

The past few days the news has been filled with stories about how home prices dropped in January.

S.F, US  home prices in free fall“  reads one headline.

Twin Cities Home Prices Suffer 20% Plunge” proclaims another.

Home Prices Down 14% year over year” announces yet another.

Talk about ‘yesterday’s’ news!

In January George Bush was President and it was snowing in many parts of the country.

Thousands of homes have been sold since January and Obama’s Stimulus Plan has been passed.

I understand that it takes time to compile data, but January’s home values are not very relevant to today’s market.

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Posted by: Louis Cammarosano on April 1st, 2009 under Home Prices, Home Values, HomeGain

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The State of San Francisco Rental Markets

I’ve been looking through some recent reports to try and sleuth out the general economic level of malaise and I’m am happy to say that we are not yet feeling the pain in a serious way. The San Francisco Apartment Association magazine prints a nicely detailed economic overview by Mat Sheridan. The first chart shows us that the San Francisco employment rate is less that the state unemployment rate by a little less than half. At 4 to 5%, our jobless rate is painful, but not devastating. Our vacancy rates are still less than 5% and we are among the top rental markets in the country.

I have this theory…..San Francisco is host to huge commuter busses that stop in most areas of the city. They pick up workers from Google, Apple, EBAY, Genentech and other south bay companies. The commuters are picked up in central locations throughout the city and driven to work and back. This has brought huge numbers of well paid employees whose only alternative to living and in San Francisco and working in the south bay was to endure a hour plus commute or take Caltrans.

The bus alternative is a no cost convenient way to live in San Francisco and work in Silicon Valley. The net of this, (my theory) is that San Francisco and Silicon Valley are becoming economically interdependent and this has fueled our rental boom. The health of the tech industry is even more closely aligned to the economic health of San Francisco than ever before. The human typography of this city has been undeniably altered.

San Jose as a Leading Indicator Continue reading this post

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Posted by: Howard Sobel on March 20th, 2009 under Guest Bloggers, Market Trends

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