Ten percent of ZIP codes in the San Jose metro have median home values of more than $2 million....In the Bay Area... housing has become so expensive that much of the middle class has been effectively priced out of home-ownership. Forty-four ZIP codes have median home values above $1 million, just nine have median home values below $300,000, and not a single ZIP code has a median home value below $200,000.
Citylab crunches Zillow data & finds:
Wall Street Journal says:
Rent growth exceeded 6% over the past year in San Francisco, San Jose and Seattle....But household incomes have stagnated, resulting in a financial squeeze for a growing number of renters.
SF Business Times says of the 5 inner Bay Area counties, prices are up 18% since last. Interesting that some places are 14% beneath the 2006 peak, but some places are soared past the peak. With the exception of Berkeley and SF (urban meccas & always desirable), notice the other cities they mention below all have excellent school districts.
Prices shot up during the tech boom in the late 1990s then dropped after the bust. They peaked even higher in 2006 before hitting a recession low in 2011. They have been on the upswing again, but as of April, the region as a whole is still 14 percent lower than its previous peak in May 2006.
What kind of job do you need to afford a good house in San Francisco? One that pays around $140,000 a year before taxes, according to a new report from financial publisher HSH Associates....And even then you’ll be unable to qualify for a good number of homes on the market. That salary makes the City by the Bay the least affordable major city in the country
Business Insider's got the scope!
The fastest-moving markets had a lower percentage of homes still listed after the two-month period, while the slowest-moving markets had a higher percentage.
San Francisco Mechanic Sold His AutoShop Building for $9M & You Know The Buyer Is a Condo Developer! (It's the Mission)
Property Shark did some investigatin' and found that what they're saying about SF is true. Prices and rents be soaring!
They looked at every home that was sold in the years 2003 and 2013, then compared the median sale prices, adjusting the 2003 prices for inflation.
My Property Beat Radio Interview! Secret Tips For Buyers in SF, Where's Market Headed & Whats 'Price to Entice' About?
Zumper crunched their numbers and found the rental increases weren't city wide since January 2013! Marina, SOMA, Dogpatch, Bernal Heights saw highest gains. But some places went down, contrary to popular belief.