The 2-4 Unit Building Market

San Francisco’s roaring economy spurs worries of a bust

Here’s an interesting article that covers housing trends in the Bay Area, Boomers and Millenials and the job market. A lot was covered so read on…

The Bay Area economy is firing on all cylinders, but there’s still plenty to worry about.

Talk of a possible Bay Area housing bust triggered by a tech slowdown or how the national economy will be affected by the next president’s trade policies were among the concerns raised by top economists speaking Thursday at the San Francisco Chamber of Commerce’s annual ForecastSF breakfast program.

Perhaps the city’s business leaders were setting the stage for San Francisco Mayor Ed Lee’s announcement later in the day that he was calling for the city’s first-ever “economic resiliency plan.”

In a region known for its boom-and-bust economic cycles, the mayor’s calling on the Office of Economic and Workforce Development to create a plan that will advise the city on “how to prepare for a future economic downturn.”

“The Economic Resiliency Plan reflects our commitment to the people of San Francisco to have an action plan in place to address any potential downturn in the city’s economy,” said Todd Rufo, director of the Office of Economic and Workforce Development.

The mayor is calling on his economic development team “to plan ahead and explore ideas on how to keep the city’s economic engine and workforce steady during challenging economic times.”

At least the mayor might score some points for forethought and ambition. One UCLA economist said last January that San Francisco could be the epicenter of the nation’s next recession. However, the UCLA Anderson Forecast, released this week, sees California’s economy continuing to grow at a steady rate and generate high levels of employment over the next two years.

At the chamber’s ForecastSF breakfast, housing and demographics were sources of concern.

San Jose and San Francisco top the list of least affordable U.S. cities for housing, according to Visa’s Chief Economist Wayne Best. In a handout Best shared with his audience, he called the two cities, along with Santa Cruz, as “severely unaffordable.” Those hoping to buy in markets considered just “moderately unaffordable” are advised to check out Vallejo, Modesto or Yuba City.

Source: BizJournals

From our NorCal network : The Artisan Group


6601 Elverton Drive
Oakland, CA 94611
Offered at $1,875,000

For more information about this property or a referral to other areas of Northern California, please contact me.

SF Ranked Top City For Trick-or-Treating

1For the third consecutive year, San Francisco takes the prize as Zillow’s top US city for trick-or-treating. To help identify locations that could potentially dish out the most candy and present the least amount of safety and walking concerns, Zillow determines their rankings based on four categories of equal value: the Zillow Home Value Index, population density, Walk Score, and local crime data from Relocation Essentials.

Other California cities that land in the top 20 are San Jose (#4) and Los Angeles (#6) each moving up a spot from last year, as well as San Diego (#12).

Curious which part of town takes the crown? Zillow also includes in their rankings the top five neighborhoods per city. San Francisco’s may surprise you:
#5- Glen Park
#4- Presidio Heights
#3- Cow Hollow
#2- Sea Cliff
#1- Noe Valley

Zillow’s ranking is, of course, just one way of looking at it. We’ve gotten feedback that lists Cole Valley, St. Francis Wood, and West Portal as tried and true. We’d love to hear more – chime in with your pick!