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Rental Rates and Mission Bay in San Francisco

From Inside SF The number of apartments and condos under development in San Francisco has increased to a new record of 63,700 units. In the third quarter, there were slightly more new proposals for housing than finished construction. At this time last year, there were 4,700 less units in the pipeline. Statistics from Cushman and Wakefield show that the average cost of rent in a San Francisco building with more than 50 units dropped 2.7 percent in the third quarter as well. So the laws of supply and demand are taking over.  4700 more units are now in the pipeline.  The most have to be in Mission Bay.  That is the area just south...

Glick Predicts the Election Real Estate Style!

Jill Stein (Green Party) I’ll start with Jill Stein. Stein is a candidate from the Green Party. Her overall campaign is to increase the “Green Trend”. This means enacting tax credits for installing solar energy, encouraging US citizens and companies to compost and recycle, conserving water, and lowering greenhouse gases. What does this mean for you and me who own real estate? Prices will increase because of the cost of installing these items in the short run. In the long run, eventually, these items may be the norm and costs will come way down.   Evan McMullen (Independent)/Gary Johnson (Libertarian Party) For Evan McMullen and Gary Johnson, if we...

Could $50 Per Month Save Housing?

The 30 year mortgage.  As American as apple pie.  It’s the sacred cow of the real estate finance industry.  But, is it also destroying wealth in this country? When you take out a mortgage, they are simple interest.  That means that you pay interest on the outstanding principal balance each month.  After 10 years on a $100,000 original mortgage, you are only down to owing $78,000. But, if you paid $50 per month more (on a 25 year mortgage), you would be down to $67,000.  It may not be much, but psychologically, it’s better to have your head over the water level rather than underwater! Looking at the bigger...

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