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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 U.S. housing market has been so hot for so long that it’s easy to forget it can’t stay that way forever. At some point, home prices will have to stabilize or head lower — at least ...
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 ...
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 ...
Peter Yang, a 37-year-old product lead at Reddit, described the Bay Area housing market as “crazy.” ... CBS News. Winning ticket for $1.22 billion Mega Millions jackpot sold in California.
The shortage is statewide; from 2010 to 2017, the state added one new housing unit for every five new residents, and is pronounced in employment centers such as the Bay Area and Los Angeles. [ 15 ] : 1 [ 16 ] In 2023, housing affordability in California reached a 16-year low, with only about 16% of homebuyers able to purchase a median-priced ...
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 ]
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