Tuesday, April 10, 2012
PCL/Passport Oakland in The SF Chronicle Today and More News on Oakland Affordability
PCL and the Passport Oakland events got mention in today's San Francisco Chronicle
Buyers' market: If San Francisco real estate is a little too rich for your blood, how about Oakland? Home sales are up, especially in the condo market, and property developers are keen to show you their wares.A number of developers and real estate firms, including Holliday Development and Uptown Place, are part of a month-long business campaign called Passport Oakland, designed to entice folks to experience a city that has had some not-so-good press lately. Five "new home communities" are available for inspection, plus neighborhood tours. Barbecues, wine tasting, deals on meals and $100 gift-card prizes are among other incentives.More information at passportoakland.com and on Facebook (Facebook.com/PassportOAK) and Twitter (#PassportOAK).
Notably, it comes as the latter part of an article about a parking lot being purchased for $41 million in ALL CASH, which gives context (albeit, one of insanity) to the claim that prices in SF have just gotten too far out of reach.
Also this morning, on NPR's California Report (during Morning Edition), there was a segment on how middle income buyers are squeezed out of San Francisco, with affordable housing incredibly limited and competitive, and less than 25% of housing in San Francisco affordable to people earning less than $110k per year. That means that most single earner and young professional households can't hope to establish themselves in San Francisco long-term.
And, in case the message wasn't resoundingly clear, another piece from a few weeks ago echoes that with prices so far out of reach in San Francisco, it's still better to rent than buy. Yes, even with San Francisco 1-bedrooms renting for over $2000/month and and 2-bedrooms in the mid $2k range, its still better to rent. Unless you're looking to buy in Oakland -