The Internet Drives the City
Thanks to the internet and the technology industry continuing to be the infinite work space, thousands of new technology jobs drove the city's population to a new high of more than 824,000.
Yahoo and Google have opened offices in the city and continue to provide shuttle buses that have dominated the city neighborhoods. The increase of high paying young professionals has caused a crimp in the housing supply, but it has also certainly boosted the local economy. This huge influx of workers connected to south bay industries seem to be merging the economies of San Francisco and Silicon Valley. Yahoo, Microsoft and Google farmed out some of their work to San Francisco offices and young start ups are popping up and transforming lower rent districts.
The growing number of online-media and business-software firms are creating a perfect compliment to the computer and microchip focus of Silicon Valley. This divergence of skills is highly complimentary and will continue to knit the San Francisco and the South Bay.
City Stats: In 2007, the 3,281 units authorized for construction was a 41 percent increase from 2006. Projects on the horizon - including Rincon Hill, the Transbay Terminal area, Hunters Point Shipyard, Candlestick Point, 5400 potential units in Merced Park, 6000 units in Octavia area of market and trinity place at market and larkin will add tens of thousands of homes.
Thanks for Reading
A web site of over 450 articles related to real estate focused primarily on property management.
Your Property Path
Snap News updates real estate markets and all things of interest to property owners and real estate professionals.
You can add this page to your favorite Social Bookmark site: