Yes, in terms of kids and young people (students), this Pandemic with its remote learning has largely been a catastrophe. Most students HATE this and crave the classroom interaction with other students and instructors. In some market segments, sellers are now competing for buyers, instead of buyers competing for listings. Welcome to our December newsletter. Driving down US1 in Marin County is an adventure by itself.My big issue is that the ocean is cold as heck. In the closed caption version this states that you are the publisher of Pandemic-era supply and demand dynamics vary widely by property type, price segment and neighborhood. Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels. Europe’s Dilemmas Ruth Krishnan Ever try to use your telephone when it is tied up for an hour and a half with someone in your family taking some on-line training that requires exclusive use of the phone (RJ11 connection) and Internet at the same time. Suburban home listings are not seeing any more attention on Zillow than they were last year, relative to urban or rural listings. We also don’t miss the many unproductive soul crushing hours in traffic. 4) The Personal Saving Rate was the highest ever in Apr @33.7%, but down to #2, below 1975 @17.3%. Recollections of the good old days in San Francisco: Family trips, with several nights at the opera….after the last night (and it could have been Verdi; he’s a personal favorite), leaving the War Memorial Opera House, and heading towards home (home in another state), and hoping that it was not a night with a game at Candlestick Park, with that traffic pouring in to make for traffic congestion. September 2020. Yes, there were 3 days when screenings hit 1 million. Kids need to learn how to socialize, and school is part of that. Brave New Wolf. *first tuesday’s forecast is based on monthly sales volume trends, as experienced so far this year, and economic conditions affecting the market.. Home sales volume in San Francisco County is volatile, but has tended to run a step ahead of the rest of the state in terms of trends. In September, the median list price of homes in San Francisco, CA was $1.4M, flat year-over-year. Five of the hottest counties in the areas reported higher than expected sales in October 2020, showing how the area is continuing to thrive and attract investors from across the country. Leave me alone. 4) People with face mask, especially young ones, were waiting on lines, to buy x3 and get x3 for free. TSA screenings of people entering the security zones at airports was down 60% on average during the week, compared to same week last year. The hollowing out of USA jobs and wages accelerates….. Characterizing employers as “Dictating” your social life comes off as a personal opinion and not a fact. This is the world my children live in. And yes I did enjoy the Friday after work brewskies and wings with some of the guys. I keep my horse & buggy technology as a backup for major power outages. The media headlines on this topic are always shitty. Online and in Brick & mortar action ,for those who survived the virus plunge, will get the gold. See our, ← The State of the American Consumer: Free Pandemic-Money Runs Low, This Spike of New Businesses is a Doozie, on Several Levels →, “Exodus” in Full Swing: November Rents Swoon in San Francisco, New York, Boston, Los Angeles… But Skyrocket in Other Cities, The State of the American Office: Suddenly Emptying Out Again Under the Second Wave, Vacancy Rate at Iconic Manhattan Tower with 899 Apartments Hits 26%: This Shows How Fast & Massive the Exodus Has Been, The State of American Restaurants, by City: The Catastrophe of the Second Wave, This Spike of New Businesses is a Doozie, on Several Levels. Another social outcome of law change. There are 149 homes for sale in San Francisco with a median price of $1,247,900, which is a decrease of 0.5% since last month. They will not see a dime. that’ll be the day I go back Despite the terrible fires, SF had a very active month in listings going into contract in August, hitting a high point for the year and matching the high points of recent years. Social distancing is a preferred lifestyle not an imposed mandate. They started this teleworking back in 2000, and it was a complete disaster. The chart below does the same for the SF condo, co-op and TIC market. I did some remote work in 2001.. everything was done via email, phone, and we were still FTPing files. Sure, it’s the sales, liquor, payroll, Healthy San Francisco surcharge for the homeless, taxes. Buyers tend to shy away from TICs when there’s a glut of condo … Copyright © 2011 - 2020 Wolf Street Corp. All Rights Reserved. Of course not, it just makes you sound (to my ears at least), a bit wet. College without all the massive socializing that is going on there is not college. Americans Have Gained $2 Trillion in Home Value During the Coronavirus Pandemic October 29, 2020 1) I visited Walmart today, between 5:50 AM to 7 AM, but the store had only few customers. 9) Ads Removal will slow sales. Give me a break! Submit a Nomination But some forecasts predict a slowdown in the months ahead. For them, in-office work is great so that the company can hand them their social life. Work from home is overhyped. A portion of these things should be tax deductible. Stockmarket index PE ratios are high compared to long term averages. Always enjoyed the articles. December 1, 2020. And lots of people will choose to work from home and gravitate to those jobs that offer it. It still does not. As an old buddy of mine used to say California, Oregon, Washington, Hawaii, and Alaska need to separate from the north american continent and form The Greater State of Pacifica. 6) People want to shop in the stores, to shop with family & friends, for family & friends, with other people around, for fun fun fun. September 2020 report from shows that San Francisco is a balanced real estate market, which means that the supply and demand of homes are about the same. like it was a ridiculous videogame; their Many low paid jobs have been designed so people can’t interact. Also, basic science is basic science, but business and school closures are not science, they are public policy. Most people (I assume you’re in the US?) October 2020 was $1,061. The following 3 charts illustrate aspects of the SF CONDO & CO-OP market: Median sales price trends by bedroom count; sales volumes and median sales prices by Realtor district; and the number of active listings by Realtor district with an analysis of months supply of inventory. The median list price in San Francisco is $1,295,000. The basic problem is that there are far too many people. San Francisco's real-estate slump, while similar to other isolated trends in expensive US cities like New York, doesn't follow a national trend. One of the reasons I hate the office life- which sadly I will be going back after a decade of WFH (don’t ask). More detail follows later in the report. Retail sales is way up. It was doable if your work was project based. One issue is classified material, since previous exposures were unclassified, not sure how it would work. Transportation 5) WFH and furlough will eliminate buying gifts to people u used to see and worked with. We’re committed to making a difference in the lives of our clients as we help them buy or sell their homes. You can also email us at We live in a world where the people that rule us have created a system where we are isolated or atomized. The median sale price was $1.4M. There is so much to do and so little time in our personal hourglass, imho. For some reason the system at home worked exactly the same as when I was logged on at the office. That is very easy to move. Have you not seen the photos from the pandemic a century ago? Jobs Strong sales, but dramatically rising inventory (and price reductions), especially in the condo market, make San Francisco a complex market. Much of the SF house market (blue columns) remains firmly in “seller’s market” territory, but the condo market’s supply (red columns) is outpacing buyer demand, especially in the higher price segments. 8) Confusion and chaos at the top and a new anti Xmas sentiment will not induce spending. You’re free to post this stuff on your own blog or on your firm’s website. (415) 735-5867 They’re playing with other people’s money/lives No S Dan reference without sax in background…. The average sale price per square foot in San Francisco is $988, down 5.3% since last year. Gold & Silver All of them stopped it. I worked in Dept of Defense as program manager and sys admin for multiple networks. A million every day. Homes are typically worth $1,086/sqft. “a few of us that would actually read it”…… there were a bunch of people who educated themselves during the “Great Recession” and yet here we are. #1-Did they introduce robot hours? I just started to take a walk at lunch or ate on the job to get away from it all. The penalty for late payment is hefty, so make sure you get your check in … Email: 2) Many department stores, mom & pop and restaurants already have been closed. On the positive side, if the West Coast scoots out far enough into the Pacific, we’ll be closer to my in-laws who live in Japan and are getting older :-]. Extroverts are always exhorting introverts not to be “miserable”. If there is a problem everybody flies to the point and they work together. You can trust your computers to keep working and producing for you. I think there are a few of us that would actually read it. :). report mentioned above. Missing the Walmart violence videos this year. I have a VOIP one, but I recognize I’m in the minority. Instead, you are buying after prices have already softened by 5% – 15%, depending on the area. Some other counties have seen astounding increases. By hook or crook, you’re trying with all your power to inflate the prices/rents in the office sector of commercial real estate — and that’s the only thing you ever comment on. As was done after the Great Financial Crisis, I hope an intrepid author or two will take the time to put out an honest assessment of what was done, and where we went wrong. Using ad blockers – I totally get why – but want to support the site? Testing, mask wearing, social distancing, yes. The next two charts illustrate how the house and condo markets have diverged since the pandemic hit. I think the government and especially the DOD with their 700 billion annual budget can afford it. When the delinquent mortgages gets sorted out, then there should be a surplus of single family houses. A-Well, yes, that’s a good point but I emphasize the operative word in CrazyHound’s tirade was “worked”, as in past tense. Face masks reduce shopping excitement, increase loneliness. Then I take them into my circle of trust”. Consumers After that, are you a ‘bad person’ for wishing someone ‘Happy Holidays’? To me, management is like the government, always interfering and taxing my time and productivity. Housing Bubble 2 They make their decisions, and you have to live with them or get out. Although California’s COVID-19 cases remain fewer […] Later Geo Will said of GHW Bush, “he wants to Commander in Chief of a few New England states, and Bill Clinton wants to be governor of all of them..”. The recovery is not much better. Work is work. I was forced to dribble around in a mall. What you can’t trust is the government and the corporate media. San Francisco Housing Market Predictions for 2020. San Francisco, CA 94109 The paradigm that us boomers thrived on is dying. Pandora was loaded with buyers. With the increase in inventory has come a big jump in the number of listings reducing asking price. There’s just no way I’m going to agree on this. Keep good records and consult your tax advisor. You can donate. had ”the dream” over and over when living in what would be in the high end of one of the nw usa estuaries/fiords/etc., when most or all of CA west of the coast range dropped into the Pacific, Things that didn’t work in 2000 may work in 2019. What about those who has no social life out of office? You are not buying at the high. I recall a Dilbert cartoon where dilbert and Wally were discussing how covid did not really affect their lives, and I can put myself into that category. The Gipper was delusional. Affordability of Living in San Francisco, CA. People celebrate Hanukkah, yuletide (pagan) and the new year, among other holidays, at this time of year. “utilities, taxes, Internet access, insurance and maintenance of their home offices”. There was an increase in seriously delinquent mortgages. So when you talk about “science”, it would be well to acknowledge that scientific knowledge is incomplete, and some of the states that are closing schools based on “science” would more accurately be stated as closing schools because of “teachers union”. My heart goes out to all the small business owners watching their lives destroyed by the virus of bad government and stoopid political decisions. What made 1975 the current #1 and why? It didn’t have to be this way. Fifteen years ago many of the large Silicon Valley companies tried it. As for meetings, the simplest solution was best, telephone call ins with a shared computer you can link into, software has improved. Who cares about consumer sentiment? Just ask my depressed daughter that is getting screwed by the little soviets of California. We didn’t talk about work, though, ….just enjoyed each other’s company and had some laughs. Also the guys measuring consumer sentiment are probably the same ones doing the whole polling thingy. This world needs to end. This is never discussed because it does fit the narrative. Plug In to San Francisco Real Estate Tips, Trends and the Local Scoop. This pandemic has taught me one thing. The natural wonders are amazing. Ah yes, the Weapons of Mass-business destruction. These bosses tend to disrupt the work with their all hands on deck proclamations. appears warmer than usual Nov 12, 2020, 9:32 am PST Prop 19 passes, changing real estate tax landscape for California families Think of McDonald’s or factory work. There is literally no science to suggest that primary school closures help in the pandemic, and a developing literature from the EU that shows lower prevalence in primary school students and teachers than in the community at large. 7) With less malls around, less dept and chain stores, the ones that are still around are getting real action. Who I worked with not so much, especially if you work with some distasteful personalities. Why do I see people watering their lawns ? One other recent order never got delivered and Amazon refunded me (case of Propel water). Suburban homes made up 62.2% of all Zillow page views of for-sale listings in June 2020, down just slightly from 62.6% in June 2019. With the possible exception of greater electricity/gas usage while working from home, these are all fixed costs. In what way was he not part of the government. For one everybody used an offline email client. I listened to the full webcast; thanks Wolf. #3, well that’s all well and good, but Amazon Prime deliveries on two of my recent orders have taken 5 days with several notices of them being late. That’s what they wanted us to do. You can trust the birds and squirrels to keep eating all the food you place out there for them in their feeders. You can choose what kind of job you want – work at home or work in an office. Wall St. Because you keep fabricating what psychological problems I might have because I present data that show what’s going on in the office sector of commercial real estate. Does that make epidemiological sense? Well that’s an easy one! Will slide into the Pacific Ocean soon. See our Privacy Policy, My Thoughts on San Francisco’s “Exodus,” the Social-Life & Cost-Cutting Aspects of Work from Home, and the Truly Bizarre Split in the Real Estate Market. No matter, they still get a participation trophy. People are massively striking out on their own. Winter real estate outlook for S.F. If Trump tax reform gets reversed, you should be able to itemize your home office, although I think you would need to WFH fulltime for that. 2020 Median Home Prices In San Francisco. In 2012 was able to continue operations during a 1 week power outage. I wonder if the South Americans and Africans will come to American colleges. People seem to waste water in an area which seems to be a long period of drought . One even reimbursed my internet. Cars, Trucks & Crashes A week as 168 hours. Yep its a superior life or so many wouldn’t be clamoring to be here. The median list price per square foot in San Francisco is $1,065. Two weeks later he was assassinated, the spark which ignited WWI: Your workplace observations are prescient. There must be pressure from on high as well since Commercial Mortgage Backed Securities get a temporary reprieve when businesses reopen. San Francisco's home resale inventories is 1,727, which decreased 5 percent since October 2020. Forget the social implications. TIC Market Stays Alive During Corona October 12, 2020 The tenancy-in-common (TIC) market in San Francisco is a small one, with about a tenth of the condo volume at any given time. I chose Idaho instead. 2) When I couldn’t find a parking slot near Macy’s, like in the good old days, I started to suspect that I might be wrong ! 7) After the dotcom collapsed consumer sentiment was down to 77.6 in Mar 2003. ... it sent shock waves through commercial real estate markets. Your email address will not be published. Shenanigans It is a great place as long as you have a good deal of money and as long as you do NOT have to commute. #2-See intro. My WFH employer focused on mission accomplishments, whereas my new office centric model is focused on meetings and babbling about being lonely and looking forward to returning to the office life to make friends. As for the nation’s worst real estate market in 2020? Enjoyed the micro-cap miners’ ads. See more real estate market trends for San Francisco. I once worked for a guy that loved to put up little plaques of quotes all over our staff room, and would hold court with his opinions every lunch hour. As an aside note, an interesting quote that I just read in one of my recent European history books that I read when i had nothing to do : From the Archduke Ferdinand, heir to the Austrian throne in June 1914: ” I trust no one. China Dial up Internet works without power to the house. We are all becoming small farmers, independent on our land and homes, barn raising when needed.
2020 san francisco real estate market trends 2020