By Erin Baldassari | [email protected] | Bay Area News Group PUBLISHED: December 12, 2018 at 6:30 am | UPDATED: December 13, 2018 at 6:48 am SAN FRANCISCO — In a bold new plan to tackle the Bay Area’s housing crisis, regional leaders are calling for a cap on rents, protection against arbitrary evictions and new employer and property taxes to generate $1.5 billion annually to help create new housing, preserve existing housing and pay for other measures. The proposal is the outcome of around 18 months of work from some of the region’s heavyweights when it comes to planning for, approving and building housing: the mayors of the Bay Area’s three largest cities, tech giants, transit agencies and advocates, environmentalists, champions of affordable housing, tenants’ rights organizations, labor groups and developers alike. In short, a lot of people who all agree the region needs more housing but often argue about the best ways to get … [Read more...] about Employer taxes, rent caps, and more in big, bold Bay Area housing plan
Housing market bay area
By Louis Hansen | [email protected] | Bay Area News Group PUBLISHED: August 16, 2018 at 1:16 pm | UPDATED: August 20, 2018 at 4:43 am Could the South Bay’s super-heated real estate market finally be showing signs of cooling? More sellers in San Jose have been lowering their prices on real estate website Zillow recently, and rising interest rates have economists looking for a slow-down. Zillow found that prices in the San Jose region were cut on 9.5 percent of listings in June, up from just 7.2 percent a year ago. Sellers in the San Francisco and Oakland market cut prices at the same rate as last year. Economists from Zillow and online brokerage Redfin expect the runaway market to slow next year — but that doesn’t mean prices will go down. Bay Area prices likely will continue to climb at a slower rate and remain among the most expensive in the nation. “Ever so slightly, the winds are starting to shift,” said Zillow senior economist … [Read more...] about A slight chill coming for the Bay Area housing market?
caption San Francisco is too expensive even for tech workers. source HBO The San Francisco Bay Area’s housing market is so bleak, even tech workers are struggling to buy a home there. A survey by Blind found that 59% of employees at Bay Area tech companies said they cannot afford homes. Cisco, eBay, and Intuit had the highest percentage of employees who said home ownership is elusive. In Silicon Valley, buying a home is out of reach even for the region’s tech workers. Blind, an app that lets (mostly tech) workers chat anonymously about the workplace, asked employees from 13 Bay Area tech companies if they can afford buying a home. A 59% majority said they cannot afford to purchase a house in the Bay Area. At least 100 employees at each of the 13 companies – including Apple, Facebook, Google, Salesforce, Cisco, eBay, Intuit, Airbnb, Uber, Pinterest, LinkedIn, Intel, and Oracle – participated in the survey, with a total of 2,326 … [Read more...] about San Francisco’s housing market is so out of control, 60% of tech workers say they can’t afford homes
By Louis Hansen | [email protected] | Bay Area News Group PUBLISHED: July 25, 2018 at 10:01 am | UPDATED: July 27, 2018 at 2:05 pm Bay Area home buying slowed in June, as the busy summer home shopping season was chilled by scarce inventory and yet another month of near record-setting prices. Median prices last month for existing homes in the nine-county region rose double digits over the previous year to $920,000, just short of the record high set in May, according to a report released Wednesday by real estate data firm CoreLogic. Home sales dropped 9.2 percent from the previous year, suggesting many house-hunters are finally fed up or priced out of the Bay Area. The median re-sale price of single family homes in the region increased 12.1 percent from last June. “It’s obviously a combination of affordability and inventory constraints,” CoreLogic analyst Andrew LePage said. “We’re seeing it statewide and … [Read more...] about Bay Area home prices keep climbing, but sales slow
105 Manor Place--next door to a former drug house at 107 Manor Place-- recently sold for $2.3 million.. (Dan Coyro -- Santa Cruz Sentinel) DeLeon Realty A Los Altos Hills home on La Vida Real that is up for sale for $55 million, in an aerial view. In the latest reminder of the Bay Area housing boom, a hillside estate in Los Altos Hills is on the market for $55 million, a broker and county officials confirmed Thursday. Sound The gallery will resume inseconds The city recently eased restrictions on alternative housing structures like the pictured Granny unit in San Jose. Officials hope it will increase supply and reduce skyrocketing housing costs. BAR Architects, SummerHill Homes, Grosvenor Americas, Eden Housing A drawing shows what housing could come to the North 40 development in Los Gatos. Developments like these are coming in too slow for most people, forcing them to leave California. (Google Maps image) The median house price in the San Jose area as defined … [Read more...] about Nearly half of Bay Area residents say they want to leave