Articles Filed Under: Breaking News

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Bay Area Unemployment Hits a Record Low, But…

Bay Area Unemployment Hits a Record Low, But…

The unemployment rate in San Francisco has dropped to a record low of 1.9 percent, with the ranks of the employed having increased by 2,900 to 569,300 in May. That being said, the ranks of the employed are still down by 6,100 from February’s record high and the rate... Read More »

Mega-Project Has (Partially) Broken Ground

Mega-Project Has (Partially) Broken Ground

Approved by Planning back in 2015 but waylaid by legal challenges, the ground for the massive 5M Project – which spans a 4-acre South of Market site stretching from Mission to Howard and Fifth to Mary – has officially broken ground. Now championed by Brookfield Properties, which acquired Forest City... Read More »

Presidio CEO Pans Refined Plans for 30-Acre Redevelopment

Presidio CEO Pans Refined Plans for 30-Acre Redevelopment

With the singular proposal to redevelop the 30-acre Fort Winfield Scott campus in the Presidio having been thoroughly panned by the staff of the Presidio Trust back in April, the proposing team was granted a chance to “update and clarify” its plans. And with the refined plans in hand... Read More »

San Francisco’s Transit Center Will Reopen on July 1

San Francisco’s Transit Center Will Reopen on July 1

With the repair and remediation of the fractured beams that resulted in the emergency closure of San Francisco’s new Salesforce Transit Center having been completed ahead of schedule, and a comprehensive inspection of the entire structure having failed to uncover any new concerns, the transit center and its rooftop... Read More »

Benchmark Mortgage Rate Nearly Hits a Two-Year Low

Benchmark Mortgage Rate Nearly Hits a Two-Year Low

The average rate for a 30-year mortgage dropped 17 basis points over the past week and now measures 3.82 percent.  That’s the lowest 30-year rate since the third quarter of 2017 and down over one full percentage point, or 23 percent, since the fourth quarter of last year, according... Read More »

City Investigating Unpermitted Pods in the Tendernob

City Investigating Unpermitted Pods in the Tendernob

Hidden away behind an imposing looking gate off Post Street, between Hyde and Larkin in the Tendernob, the 3,500 square foot home at 3 Meacham Place traded hands for $1.63 million back in 2014, listed as a “one-of-a- kind residence” which has been “a source of inspiration through the... Read More »

Benchmark Mortgage Rate Dips Under 4 Percent, Odds of Easing Up

Benchmark Mortgage Rate Dips Under 4 Percent, Odds of Easing Up

Having shed 7 basis points over the past week, the average rate for a 30-year mortgage now measures 3.99 percent, an average rate which is 57 basis points lower than at the same time last year and the first sub-four percent rate since January of 2018, according to Freddie... Read More »

Pace of Home Sales in San Francisco Drops, Inventory Inches Up

While home sales in San Francisco totaled a ten-year low in the first quarter of 2019, the pace of sales turned up at the end of March and April sales will show a year-over-year increase, trends which shouldn’t catch any plugged-in readers by surprise. That being said, the pace... Read More »

Bay Area Employment Really Drops, Unemployment Rate as Well

Bay Area Employment Really Drops, Unemployment Rate as Well

While the unemployment rate in San Francisco returned to a record low 2.1 percent last month, the drop was driven by a reduction in the size of the labor force and the number of people living in San Francisco with a paycheck actually decreased by 5,700 to 566,200, which... Read More »

Wiener’s Big Housing Bill (SB 50) Shelved Anew

Wiener’s Big Housing Bill (SB 50) Shelved Anew

Following in the footsteps of Senator Scott Wiener’s original “transit-rich housing bonus” Bill 827 which was killed last year, Wiener’s follow-up bill, Senate Bill 50 (SB 50), which would allow for taller residential buildings to rise near transit and job-rich areas across California, has effectively been shelved by the... Read More »