Articles Filed Under: Real Estate Economics

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S.F. Employment Hits New High, Unemployment At 15-Year Low

S.F. Employment Hits New High, Unemployment At 15-Year Low

With the state’s latest labor force revisions and refinements now complete, the estimated number of people living in San Francisco who have a job now measures 520,900, a nominal increase of 400 since the beginning of the year but also a new all-time high. Since January of 2010, the... Read More »

Housing Production In S.F. Highest In Over 20 Years, But…

Housing Production In S.F. Highest In Over 20 Years, But…

Housing production in San Francisco was the highest in over two decades last year, with 3,514 new units added to the city’s overall inventory (which now totals 379,597 units), a dramatic swing from the 269 units of housing added in 2011. That being said, the number of employed residents... Read More »

Over 100K More Employed In San Francisco Than 5 Years Ago

Over 100K More Employed In San Francisco Than 5 Years Ago

On the heels of a typical seasonal dip in January, the estimated number of people living in San Francisco with a job increased by 3,800 to a record 520,500 in February and the unemployment rate in the city is back below 4 percent (3.8).  That’s 19,500 more people living... Read More »

Employment In San Francisco Way Higher Than Previously Thought

Employment In San Francisco Way Higher Than Previously Thought

Following a once-a-year benchmarking, a revision to the data which incorporates additional inputs and refined estimation techniques, the unemployment rate in San Francisco is back above 4 percent. But the estimated number of people living in San Francisco who have a job now measures 516,700. That’s 33,900 higher than... Read More »

Mortgage Rates Reverse Course, Drop To 21-Month Lows

Mortgage Rates Reverse Course, Drop To 21-Month Lows

Erasing a one week bump and back to a 21-month low, the average rate for a conforming 30-year mortgage has dropped from 3.66 percent to 3.59 percent, 73 basis points below the 4.32 percent average rate at the same time last year. Averaging 6.7 percent over the past twenty... Read More »

San Francisco’s Unemployment Rate Under 4%, Lowest In 9 Years

San Francisco’s Unemployment Rate Under 4%, Lowest In 9 Years

Employment in San Francisco hit a new all-time high in December and the unemployment rate dropped to 3.8 percent, the first time the unemployment rate in the city has been under 4 percent since 2007 and the lowest rate in nine years. The drop in San Francisco’s unemployment rate... Read More »

Mortgage Rates Continue To Drop, Jumbos At A Small Premium

Mortgage Rates Continue To Drop, Jumbos At A Small Premium

The average rate for a conforming 30-year mortgage has fallen for the third week in a row to 3.66 percent, the lowest rate since May 2013 when the rate averaged 3.59 percent and 75 basis points below the 4.41 percent average rate at the same time last year. And... Read More »

Mortgage Rates Drop As Bond Market Sounds An Economic Warning

The average rate for a conforming 30-year mortgage has dropped to 3.73 percent, the lowest rate since May of 2013 when the rate averaged 3.59 percent and 78 basis points below the 4.51 percent average rate at the same time last year. While the Federal Reserve is expected to... Read More »

Ten-To-One: San Francisco’s Housing Market In A Nutshell

Around 7,500 units of housing have been built in San Francisco since January 1, 2010.  Over the same five years, the number of employed residents has increased by 74,000.  And in a nutshell, that ten-to-one ratio has been driving the trend in rents and property values. With nearly 7,000... Read More »

San Francisco’s Record Employment Run Takes A Breather

San Francisco’s Record Employment Run Takes A Breather

Following twelve straight months of growth and having hit an all-time high in October, employment in San Francisco was relatively unchanged in November as the labor force dipped by 100 and the number of city residents collecting a paycheck slipped by 200 to 481,700. That’s 22,900 more residents employed... Read More »

Mortgage Rates Drop To Lowest Levels In 2014

Mortgage Rates Drop To Lowest Levels In 2014

The average rate for a conforming 30-year mortgage dropped from 3.93 to 3.80 over the past week, the lowest level since May 2013 and 67 basis points below the 4.47 percent average rate at the same time last year. That being said, with the Federal Reserve having rather clumsily... Read More »

Report: San Francisco Needs A New Plan To Combat Homelessness

Report: San Francisco Needs A New Plan To Combat Homelessness

Although the City of San Francisco has created over 3,000 units of supportive housing since the adoption of its Ten Year Plan “to abolish chronic homelessness” in 2004, and the number of supportive housing units in the city now totals over 4,600, the number of homeless individuals hasn’t declined.... Read More »

A Plan To Tax ‘Hoarders Of Homes’ In San Francisco?

Arguing that “when wealthy people who don’t actually live here buy up San Francisco residential properties, housing prices skyrocket beyond the reach of residents,” San Francisco Supervisor Eric Mar has begun working on potential legislation to discourage nonresidents from buying or owning property in the city, perhaps by... Read More »

San Francisco’s Tech Sector Nearly Doubles In Four Years, But…

According to the Planning Department’s latest Commerce and Industry Inventory report for San Francisco, employment within the city’s tech sector has grown by almost 91% since 2009 – up from 19,700 to 37,600 jobs in 2013 – but still represents a fairly small proportion (6 percent) of total employment... Read More »

Top 5 Reasons For Renting, And Factors For Buying A Home

According to a Freddie Mac commissioned Harris Poll of around two thousand adults, a third of which were renters, the top five favorable factors for renting versus owning a home are: Provides freedom from home maintenance responsibilities Allows more flexibility over where you live Protects against home price declines... Read More »