Are San Francisco and Silicon Valley Merging

When you consider the Google, Ebay Apple and Genentech reverse commutes that are allowing many workers to live here and work there and you add to that the new Google digs in the Gap headquarters building, you have a mix of new people that have changed the face of San Francisco and have caused an increase in demand for housing.

Some Numbers For You

1. Population growth in 2007 was 12,000
2. New job formation was at 21,000
3. Almost 55% of the new job formation for the state was in San Francisco
   
4. New housing units in San Francisco a paltry 2,567

Its clear that housing is not keeping up. Granted 6000 units are coming up near Market and Church and we do have the Rincon Center construction. We also will see 20,000 new units coming on line in a few years at the old Hunters Point Shipyard.
Of course, all this good growth is a blessing for workers, restaurants, remodelers and other workers. The question is ...will they be able to live here. Much of this new building is condo driven and will not be a part of the rental market.

Thanks for Reading
Howard Bell
www.yourpropertypath.com
A web site of over 450 articles related to real estate focused primarily on property management.

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