I’m always looking for good news about the SF Real Estate market – and while I feel like the market is doing well (in fact, I feel like we may have hit the “bottom” in July, but since you can’t see the bottom until it’s out of sight of your rear view mirror, we won’t know for some time), I always like to hear that I’m not the only one that feels confident that buying a home in San Francisco is, indeed, a good investment.
So, when I read that SF home prices are expected to have a hefty rebound over the next 3-5 years, I kinda wanted to say “I told you so” to the naysayers. But since I’m too mature to actually say it myself, I’ll quote an article I just read:
Home prices in [San Francisco] are expected to bounce back solidly as well. Real estate values in San Francisco had fallen 29 percent from their peaks through the first quarter of 2009. Chen says that San Francisco will pull out of the recession sooner than most other parts of the nation, and she expects future job and population growth to support rising home values. “The types of jobs [in San Francisco] generally tend to be higher paid, and personal income growth is going to accelerate [there] quicker,” Chen says. “Personal income growth really does drive home prices.” Moody’s Economy.com projects that home prices in San Francisco will rise about 12 percent by the first quarter of 2012 and 26 percent by the first quarter of 2014.
So while I won’t say “I told you so” – just don’t accuse me of ever saying that San Francisco real estate isn’t a solid investment over the long-term.
For the rest of the article, click here.
