Here are some of the most recent local real estate news headlines: When most people think of building wealth, they think of saving or investing in stocks or bonds. However, simple land and home ownership is often overlooked. In the Bay Area home ownership is increasingly becoming more expensive. Some are unable or unwilling to take that route and we now see renting rising in popularity. Many want more housing but don’t want it enough to put up with less open spaces or more crowded highways and transportation.
Land Is Underrated as a Source of Wealth
In the long term, housing does about as well as stocks. It’s also a major driver of inequality. Read the Full Story on Bloomberg.
Bay Area residents want more housing, but …
Fed up with soaring prices that are increasingly putting home ownership, or even a decent rental, out of reach, Bay Area residents overwhelmingly say they want more housing built, according to a new poll. But it better not make their commutes worse.
Residents said they support everything from new single family homes to housing for the homeless in their communities, tossing aside NIMBY concerns that sometimes throw a wrench in building plans. But there were limits to their enthusiasm. Respondents balked at building anything that would cut into the Bay Area’s cherished open spaces or funnel more people onto crowded local freeways and public transit, making their treks to work longer. Read More…
Bay Area home prices shoot up 12% in January as inventory plunges
The Bay Area’s median home prices shot up 12 percent in January from the prior year amid a worsening housing shortage.
Single-family home inventory hit a three-year low, pushing the Bay Area’s median price for single-family homes and condos to $880,000, compared to around $774,000 in January 2016. The price was down slightly from November 2017’s all-time peak of of $910,350. Read More…
Is home ownership losing its luster in these Bay Area cities?
As more people are unable, or unwilling, to buy a home, many major destinations in the Bay Area and beyond are turning into cities of renters. Read more…
Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.
To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.
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Peter is a real estate broker serving Central Contra Costa County. He and his family live in the Dana Estates Neighborhood.
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