Articles Filed Under: Real Estate Economics

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Employment In San Francisco Hits Another All-Time High

Employment In San Francisco Hits Another All-Time High

Employment in San Francisco has reached another all-time high as the number of residents with a paycheck increased by 1,300 last month and now totals 477,600 with an unemployment rate of 4.4 percent, the second lowest rate since 2008, according to California’s Employment Development Department. That’s 17,600 more people employed in San Francisco than at the Read More »

30-Year Mortgage Rate Under 4 Percent, Lowest In Over A Year

30-Year Mortgage Rate Under 4 Percent, Lowest In Over A Year

The average rate for a conforming 30-year fixed-rate mortgage has dropped from 4.12 percent to 3.97 over the past week, the first time it has been under 4 percent in over a year, and the lowest rate since June of 2013 when it averaged 3.93 percent.  And it’s a move which shouldn’t have caught any plugged-in Read More »

Prepare For Lowest Mortgage Rates In Over A Year

The index for the S&P 500 is currently trading at 1,845.99, down 1.7% for the day and back to even for the year, having dropped 9 percent over the past four weeks as worries about an economic slowdown in Asia and Europe – and a strengthening dollar – grow. Between a flight to safety and Read More »

VC Funding In The U.S. Dropped 30% Last Quarter

The Glass Half Full: Venture capital investment in the U.S. was 59% higher in the first three quarters of 2014 versus the first three quarters of 2013, with $13.9 billion invested in second quarter of 2014 alone, the second highest quarter for venture funding since the first quarter of 2001. The Glass Half Empty: Venture Read More »

San Francisco Rents Pushing Professional Firms Out Of The City

San Francisco Rents Pushing Professional Firms Out Of The City

With demand for office space in San Francisco having reached an all-time high, the average asking rent for space in the city has increased 15 percent over the past year and nearly doubled since the first quarter of 2010, up 88 percent to just under $60 per square foot.  That being said, rents remains around Read More »

Mortgage Rates Drop, Back Near 2014 Lows

The average rate for a conforming 30-year fixed-rate mortgage has dropped from 4.23 percent to 4.12 percent over the past three weeks and is back to within 2 basis points of its 2014 low (4.10 percent) and 11 basis points lower than at the same time last year, according to Freddie Mac’s latest mortgage market Read More »

Trulia Deems San Francisco Overvalued, San Jose And Oakland Too

Trulia Deems San Francisco Overvalued, San Jose And Oakland Too

Based on ratios of home prices, incomes and rents, San Francisco, San Jose and Oakland all made Trulia’s latest top-ten list of the most “overvalued” housing markets in the U.S., ranking fourth, seventh and tenth respectively. While Austin, Texas topped Trulia’s list of the most overvalued metro areas with home prices 19 percent overvalued relative Read More »

Federal Judge Orders SF To Justify New Eviction Law Payments

A Federal judge has given The City of San Francisco until Friday to file a legal brief justifying The City’s newly adopted and accelerated law which requires landlords in San Francisco who invoke the Ellis Act to pay evicted tenants an upfront sum equal to the difference between their current rent and a similar market Read More »

City Responds To “Gloomy” Outlook For Affordable Housing In SF

Responding to the Civil Grand Jury report which noted that the Mayor’s goal of creating 30,000 new and rehabilitated homes is San Francisco by 2020 “will provide some relief to the current shortage, but exactly how far it will go in addressing the affordability issue depends on many factors and the outlook tends to be gloomy,” the Read More »

Existing-Home Sales Slow As Investor Activity Declines

The seasonally adjusted pace of existing-home sales in the U.S. dropped 1.8 percent in August and is running 5.3 percent lower on a year-over-year basis versus 4.3 percent lower in July, with “a marked decline in all-cash sales” and investor activity. At the same time, the inventory of unsold homes on the market across the U.S. Read More »

Nearly 70,000 More Employed In San Francisco Since Early 2010

Nearly 70,000 More Employed In San Francisco Since Early 2010

Employment in San Francisco has reached another all-time high as the number of San Francisco residents with a paycheck jumped by 5,500 last month – the largest increase in a single month since the end of 2009 – and now totals 476,300 with an unemployment rate of 4.7 percent, according to California’s Employment Development Department. That’s Read More »

Mortgage Rates Move Higher, Biggest Increase Of The Year

Mortgage Rates Move Higher, Biggest Increase Of The Year

The average rate for a conforming 30-year fixed-rate mortgage jumped from 4.12 to 4.23 percent over the past week, the highest rate since the beginning of May and the biggest one-week increase since the beginning of the year. Speculation that the Federal Reserve might start raising rates sooner than expected helped fuel the jump.  And while Read More »

600 Years To Underground Utility Lines In SF At Current Rate

It will take an estimated $3.6 billion to underground the remaining 470 miles of overhead utility lines in San Francisco.  And at the current rate of funding for the initiative, or lack thereof, it could take 600 years to complete, according to the latest numbers from the City Controller’s Office. Last week, San Francisco’s Local Read More »

More Homes On The Market In SF This Week, Slightly Lower YOY

With typical seasonality in play as people (and their agents) return from vacation, the number of homes listed for sale in San Francisco increased by 150 (36 percent) over the past week, but overall inventory remains 2 points lower than at the same time last year (6 percent higher for single-family homes, 7 percent lower Read More »

Cost To Build Affordable Housing On Sixth Street: $690K Per Unit

Cost To Build Affordable Housing On Sixth Street: $690K Per Unit

With a 99-year ground lease from the City of San Francisco for which Mercy Housing will pay a total of $99 as proposed, the projected cost of building the affordable housing development to rise on the southwest corner of Sixth and Howard is $47,333,630, which includes $4,600,000 in consideration for the land. With $1,110,264 allocated to Read More »