We’ve all heard about the “livability” of San Francisco as well as how this quickly translates into unaffordability. A recent article in Bloomberg.com highlights how this housing frenzy has pushed it’s way across the Bay into Oakland.
Pricier homes are now going for 30 to 40 percent above asking price. Home values skyrocketed 16 percent in June over a year before while monthly rents increased 15 percent – the most in the United States.
And it’s not just residential units. Companies such as Uber have moved in -and the effect has been a 43 percent increase in office rents in the last two years. How far will it go? How much longer will it continue?