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Andy Chen, a home seller in California's Bay Area, was dreaming of Waikiki, where he planned to buy a condo, after getting an offer $50,000 over his $1.5 million listing price and with all ...
The San Francisco Bay Area is one of the most unaffordable places to live in the US. A new report explores several solutions that could alleviate the Bay Area's affordable housing crisis, namely ...
Like the national housing market, limited inventory largely contributed to the price rebound in the Bay Area. "Buyer demand rebounded in 2023 from the deep low point of late 2022," Carlisle wrote ...
Mayor Ed Lee responded to the shortage by calling for the construction of 30,000 new housing units by 2020, and proposing a $310 million city bond to fund below-market-rate housing units. [36] The goal of 30,000 new units was approved by San Francisco voters in 2014's Proposition K, [ 37 ] and the affordable housing bond was passed in 2015 as ...
The Southern California housing market is downshifting. The average home price in the six-county region fell 0.3% from October to $869,288 in November, according to Zillow, marking the fourth ...
Local newspaper The Mercury News reported that in March 2019, the median home sale price for all nine counties of the Bay Area dropped for the first time in seven years. [16] Furthermore, the average monthly inventory of homes for sale in Silicon Valley increased 15% from 2017 to 2018. [ 3 ]
Second wave (2000- 2015): The transition of housing market dynamics in the Bay Area then did not just create housing crisis, but an intensification of gentrification also known as the second wave. [48] This period is characterized by a drastic increased in borrowing predatory loans by residents in order to combat the effects of gentrification.
Reports of a tech exodus have been greatly exaggerated