Though long-term market fundamentals in the Bay Area are strong despite the current downturn, the region faces a number of challenges that could constrain growth.
"After growing at a breakneck pace during the late 1990s and 2000, the San Francisco Bay Area economy has been mired in a deep recession for more than two years. Job losses in the hundreds of thousands wiped out all the gains of recent years and returned the regions employment base to its 1997 level. The pace of job losses is slowing, but employment in both the San Francisco and San Jose metropolitan areas will continue to slide through the end of 2003, according to Rosen Consulting Group, a Berkeley, California based real estate and economics research and consulting firm. Oakland is faring better, posting slight job growth this year after losing jobs during 2001 and most of 2002."
Thanks to Urban Land Institute Email Newsletter
FULL STORY: The Bay Area’s Booms and Busts
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
How Financing Restricts the Rental Housing Market
The way apartment buildings are financed has a major impact on supply and costs.
Houston Mayor Pauses Complete Streets Projects
The move raises concerns among road safety advocates who point out that traffic deaths continue to rise.
Twin Cities Trains Move to Fewer Cars, Higher Frequency
Headways will drop from 15 minutes to 12 minutes.
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