California’s Housing Crisis: Part II

(I am starting new, semi-regular sorta-column related to all things housing in San Francisco (title needs work). I figure that some of you (i.e. tenants, qweirdo’s who read this blog, potential tenants) may be interested in this subject, especially if you are planning or even thinking of planning to buy a home in San Francisco. Plus, since I have to read this stuff to stay atop of San Francisco housing rules & regulations, I figured I may as well share some of the more interesting articles I come across) (Part 1 Here)

A recent New York Times article highlights not only the dismal (at least if you’re a buyer) state of our state’s housing issues but also how a state currently experiencing an economic upswing could face a housing calamity. Read on for the gruesome details, high or read some low lights below:

1). “The median cost of a home here is now a staggering $500,000, twice the national cost.”

2). “For California, this crisis is a price of this state’s economic boom. Tax revenue is up and unemployment is down. But the churning economy has run up against 30 years of resistance to the kind of development experts say is urgently needed.”

3). “Housing prices in Los Angeles, San Francisco, San Jose and San Diego have jumped as much as 75 percent over the past five years.”

4). “But the worsening housing crisis here has created a political environment where prospects for a state housing intervention appear more likely than ever.”

5). “California is the toughest market for first-time home buyers and the cost of housing is beyond reach for almost all of this state’s low-income population. Despite having some of the highest wages in the nation, the state also has the highest adjusted poverty rate.”

As ever, please feel free to comment, I would love to read what others think about California’s housing issues.

Published by 574 3rd St. - Central Apartments

Originally "The Central Hotel", built by Edward Rolkin in 1907, 574 3rd St: Central Apartments used to consist of 440 small rooms and several storefronts across the first floor, including a large saloon and dining room. Currently family-owned and managed, over the past 44-years Central Apartments has been converted to the thriving multi-family apartment community it is today. Couple constant upgrades and renovations with astute attention to detail and CNT is now a bona fide fixture of the SoMa/South Beach area, a multi-family apartment community that features a total of 102 apartments. From our smallest studios to our two studios with storage lofts to our two junior one-bedrooms to our one-bedrooms to our one two-bedroom, all our apartments are wired for high-speed internet and boast updated plumbing lines and electrical fixtures. Combine that with our usual apartment amenities - granite countertops, hardwood floors (entry, living room, bedroom), granite tile floors (kitchen and bathroom), gas stoves, range hoods, sturdy cabinetry, along with the fact that we include all utilities (excluding internet and cable service) with the monthly rental charge? Located three blocks from Giants Stadium, Chase Center right up the way and practically across the street from the lush oasis of South Park, we boast a perfect 100 Transit Score.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: