From the San Francisco Business News
Read about it HERE
Bay Area Home Prices Up 12% In One YEAR!
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Tag Archives: housing
SF Housing about to get even pricier
From San Francisco Business Times:
San Francisco only built one home for every 10.4 new jobs created in 2016, a recent report says, after comparing new data from the San Francisco Planning Department to estimates by the U.S. Census.
A new report from housing site Curbed S.F. arrived at the ratio of homes to jobs by comparing the 27,048 new jobs created in the city in 2016, as tallied by the Planning Department, to the only 2,600 new homes the Census estimates were built during the same period.
Curbed notes that while the Census and the Planning Department categorize job and population growth slightly differently, “unless the Census somehow missed 10,000 new homes, it’s not going to make a big difference.”
Some other takeaways from the Planning Department’s “2016 Commerce and Industry Inventory” report, released last week:
- Total wages in San Francisco shot up 6 percent overall in 2016, to $71.5 billion total, or a median wage of $101,640, a massive jump from the median wage of $83,570 in 2011.
- Building permits issued citywide fell 2 percent to 29,117 new permits.
- Job growth went up 4 percent in 2016 across San Francisco, creating a new record of 703,230.
“ROOM FOR RENT”
It’s been officially acknowledged and certified by the Lost Coast Journal that we indeed have a housing shortage, if not a crisis, on the North Coast. Apparently something like 500 students who started school in August are still looking for housing. That is ridiculous! Why hasn’t a public health crisis been declared? What is HSU doing about it??? Many unanswered questions.
I rent out my extra room and bath. I resisted it for years, then got smart. A tenant solves a lot of problems. An extra hand for heavy chores, someone to watch the dog when I’m out of town, lots of advantages. Plus the extra income is like crack; you are instantly addicted. What’s puzzling to me is that with all the shortage talk, the PRICE for a room hasn’t really gone up at all. I charge $600 for a furnished room with private bath, in a decent area. I’ve only seen a couple of ads on Craig’s List that want more for a room. So the law of supply and demand doesn’t seem to be applicable.
Craig’s List is always a good read. It’s amazing how many folks want to rent a room for nothing or “work in exchange for rent”. Who does that except for growers? I usually don’t have to list my vacancy. I just scan Craig’s lIst for people looking for housing who sound reasonable.
Anyway, my new tenant is moving in this week. Happy New Year!
END
April Economic Index Is In
You may feel that you’re being bombarded by economic indices. That’s because the Times-Standard wrote up the MARCH index just a few days ago, when the April index was about to come out. That’s okay. They’ll get the hang of it.
For the April index, click HERE. Housing sales and prices are creeping up but of course gasoline prices lead the way. Our thanks again to Dr. Eschker and his crew for their great work.
Some Interesting Numbers for Redwood Coast Businesspeople
Here’s some food for thought. You might see a few surprises.
UNEMPLOYMENT RATE IN HUMBOLDT COUNTY(January): 7.9%
UNEMPLOYMENT RATE IN SAN FRANCISCO: 4.8%
UNEMPLOYMENT RATE IN MEXICO: 4.76% (December 2013) (Time Magazine) Yes, Mexico!
SHASTA COUNTY MEDIAN HOME PRICE JAN 2014: $180K (DataQuick)
HUMBOLDT COUNTY MEDIAN HOME PRICE JAN 2014: $247K (HAR)
CREEPYIEST CREDIT CARD: Capitol One, which according to the LA Times, recently sent its cardholders a contract renewal authorizing the com[any to contact its cardholders by any means including visits to home and workplace, and gives permission to “modify or suppress Caller ID and similar services and identify ourselves on these services in any manner we choose.”
MINIMUM WAGE PROPOSED by LA lawmakers for employees in large hotels: $15.37/hour.
APPLE Computer now has more stores in Shanghai than in San Francisco. (Economist)
CHINA’S $3.3 TRILLION consumer economy is about 8% of the total, and is likely soon to overtake Japan as the world’s second-biggest consumer. Half of the world’s new shopping malls are being built in China. (Economist).
MOST CONGESTED HIGHWAY IN CALIFORNIA: I-5 in LA County. “In 2012 alone, vehicles spent an extra 6.6 MILLION hours on the road, due to heavy traffic.” (LAT).
PERCENTAGE OF AMERICANS WHO BELIEVE THE SUN GOES AROUND THE EARTH: 26% (National Science Foundation).