3 ms·
> there is no housing shortage. you are factually inaccurate there, for most US metropolitan areas on the East and West coasts. In particular, the San Francisc
by mistrial9 4y ago
> there is no housing shortage.
you are factually inaccurate there, for most US metropolitan areas on the East and West coasts. In particular, the San Francisco Bay Area for sustained decade+, had several hundred thousand more available jobs than available places to live.
source: professional Urban Planners in California
- adam_arthur 4y agoI'm talking nationally. There are going to be outliers you can cherry pick for local concerns. The national data is quite clear on this, reference any stats you want on FRED or otherwise And those jobs in SF are likely to go remote in large part, as we've already seen a strong transition towards. It's not very economically efficient to make employment contingent on location, so I'm doubtful that will continue to be the baseline model for white collar work. Home prices in the Bay Area are driven by local employment, yet I can take the same job now and move to Texas and buy a 300k house rather than 3 million. The amenities and culture will develop over time. Doesn't seem to be a very favorable outlook from a fundamental perspective for BA RE prices to me
- _huayra_ 4y agoAnd Silicon Valley is uniquely messed up by Prop 13 and NIMBYs, not to mention the fact that there is no room to sprawl out like midwest cities given the geography. That's not to say that other cities don't have a similar mix, but those other cities are not home to the headquarters of highly-paid software folks who all compete for housing. Even Seattle folks priced out can possibly afford places way up north in Everett or down south in Tacoma, if one absolutely must have a house for whatever reason. Even cities that are a heinous commute to Silicon Valley (e.g. Santa Cruz) are still wildly expensive.