Articles Recently Tagged: Affordability

(9 posts)

Most Expensive Metro Area In The US? San Jose. San Francisco #2

While home-price growth in the U.S. has slowed to its slowest pace since 2012, up an average of 4.4 percent, year-over-year, the median single-family home sale price within the San Jose metro area, which includes Sunnyvale and Santa Clara, increased 11.3 percent from the first to second quarter of 2014. And with a median sale Read More »

San Francisco Will Miss Its Affordable Housing Allocation By A Mile

San Francisco Will Miss Its Affordable Housing Allocation By A Mile

As was long ago determined by the California Department of Housing and Community Development (HCD) and the regional Association of Bay Area Governments (ABAG), in order to meet the growing demand for housing in San Francisco, the City was given a goal of building 31,193 housing units between 2007 and 2014, its Regional Housing Needs Read More »

San Jose Most Expensive Metro Area In US, San Francisco #2

With a median single-family home sale price of $808,000 in the first quarter of 2014, “San Jose” ranked as the most expensive major metropolitan statistical area (MSA) in the United States, according to the National Association of Realtors. The “San Francisco” MSA, which includes Oakland and Fremont, ranked as the second most expensive metro area with Read More »

Exceptional And Extraordinary Circumstances In San Francisco

Set at 80 percent of the combined land and structure values of single-family homes in San Francisco, the threshold for “demonstrably unaffordable and financially inaccessible housing” in the city is now $1,506,000, up from $1,342,000 ten months ago. While merging units in a building where the least expensive unit is over the $1,506,000 threshold of Read More »

SF Sellers Are Moving Out, And Behind A Couple Of Buyer Myths

A couple of stats from a survey of Paragon Real Estate Group agents with respect to their last 12 months of activity in San Francisco: 60 percent of the sellers represented by Paragon are relocating outside of San Francisco. The main reasons for their moves: 1. schools (and other family-raising reasons), 2. affordability (the ability Read More »

San Francisco’s City Attorney Sues Short-Term Rental Scofflaws

San Francisco City Attorney Dennis Herrera has filed two lawsuits against landlords in San Francisco for illegally converting their apartments into short-term rentals, which the property owners then marketed through online platforms such as Airbnb, Homeway, and VRBO. “In the midst of a housing crisis of historic proportions, illegal short-term rental conversions of our scarce Read More »

San Francisco Named Third Least Affordable Major Housing Market, Worldwide

San Francisco Named Third Least Affordable Major Housing Market, Worldwide

According to the 10th Annual Demographia Housing Affordability Survey of 360 housing markets worldwide, “San Francisco” is the third least affordable major metropolitan area, behind only Vancouver and Hong Kong, the least affordable market by a wide margin. The Demographia rankings are based on “Median Multiples,” median house prices divided by gross annual median household Read More »

Loan Limits Set To Fall From $729,750 To $625,000 In San Francisco

As we reported two weeks ago: While industry groups furiously lobby, it’s now t-minus two weeks until the super/jumbo conforming loan limits that provide for federally backed mortgages up to $729,750 in high cost areas like San Francisco are set to expire on September 30. As we first reported two weeks ago, it would appear Read More »

San Francisco Affordability: Is C.A.R.’s New Reality Already Old?

According to the California Association of Realtors and their First Time Buyer Housing Affordability Index, 23% of San Francisco households can currently afford to purchase a home priced at 85% of the local median. Their assumptions: $693,840 purchase price, 10% down, 5.69% financing (ARM), monthly payment of $4,420 (including taxes and insurance), and a household Read More »