FRIDAY - SUMMERING ON
Rethinking the Master Bedroom
Rethinking the master bedroom; many renters can afford mortgages, but not homes; 5 reason for milllenials to enter the houing market; San Jose real estate market plateaus; housing costs are a drag on CA's economy; 10 year Yelp review: CEO on SF company's journey; Tesla's manufacturing rennaisance; Google propels commercial real estate sales; the future of backsplashes.
Enjoy!
Many Renters Could Afford Mortgages, But Can't Afford Homes - In many metro areas across the U.S., more than 50 percent of renters could afford to own a home, so why aren’t more young renters becoming first-time home-buyers right now? According to data analysis, the Atlantic notes that “Young renters don't appear to be transitioning into homeownership at the rate they could be. Either renters are opting out of the American dream, or it remains out of reach for reasons beyond affordability.” Possible explanations include tight credit, low inventory, and investor cash.
5 reasons millennials should enter housing market now - With the economy and housing market still recovering, some potential first-time home buyers may be hesitant to invest in a new home. Yet there are several reasons why now is a great time for millennials and other first-time home buyers to start building their American dream.
San Jose Real Estate Market Plateaus - The housing market in San Jose, California, has been cooling over time and prices have recently flattened. The trends imply a weakening market, according to Kristen Evans, an analyst for Altos Research LLC. “Despite the consistent decrease in the Market Action Index (MAI), we're in a ‘Seller's Market’ where significant demand leaves little inventory available.”
High housing costs are a drag on California's economy, report says - The good news, Beacon says, is that home prices are cooling off. The firm predicts annual price growth of 4% to 6% for the next two years, a more sustainable pace than the double-digit gains seen for much of the last two years. Sales volume also should rebound as more homeowners have equity and banks loosen tough lending rules. And home building will continue to pick up, though it remains a long way from levels seen last decade.
The 10-year Yelp review: CEO Jeremy Stoppelman on S.F. company's journey - Interesting excerpt from Q&A:
Q: You live and work in San Francisco. What do you think about the backlash against technology's impact on the city in terms of real estate prices?
A: Most cities would be falling over themselves to have the problems we have right now, which is like: "Oh my, we have too many jobs and people's compensation keeps going up, so therefore people can afford to pay more to obtain housing." It's not to say that we don't have very serious problems, but a lot of them are completely self-inflicted, which I find incredibly frustrating.
The other misperception is that everyone working in tech is a millionaire living in luxury condos and there is nothing left for anyone else. The reality is the vast majority of our employees are making anywhere from, you know, like $40,000 to $100,000. If you look at it, we are just like every other company. As rents go up, it hurts people here, too.
A: Most cities would be falling over themselves to have the problems we have right now, which is like: "Oh my, we have too many jobs and people's compensation keeps going up, so therefore people can afford to pay more to obtain housing." It's not to say that we don't have very serious problems, but a lot of them are completely self-inflicted, which I find incredibly frustrating.
The other misperception is that everyone working in tech is a millionaire living in luxury condos and there is nothing left for anyone else. The reality is the vast majority of our employees are making anywhere from, you know, like $40,000 to $100,000. If you look at it, we are just like every other company. As rents go up, it hurts people here, too.
Elon Musk's Tesla could be epicenter of manufacturing renaissance - The growth of Tesla is creating a whole new manufacturing ecosystem in the software-centric Valley.
Google propels commercial real estate sales in Silicon Valley - Google Inc.'s ravenous appetite for office space continued to fuel the region's commercial real estate sales in the second quarter, contributing to a total of $940.3 million of office properties changing hands. That's up 14 percent from a year ago, according to the latest numbers from New York research firm Real Capital Analytics.
The Future of Backsplashes - Grout is out. Continuous sheets of glass, stone, metal and porcelain are saving cleaning time and offering more looks than ever. Some of my favorites:
Enjoy your weekend!
