Skin in the Game

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According to data from the California Association of Realtors, the housing market is weathering the economic downturn better than it did during the Great Recession, as buyers have more skin in the game.

Compared to those who bought their homes before the recession, buyers in recent years have made higher down payments, taken on fewer risky loans and second mortgages, and have higher household incomes. That means we can expect fewer defaults and foreclosures as the market continues to shift.

Rentals on the Rebound

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As COVID eviction moratoriums expire up and down the state, investment in rental properties is on the rise and back to pre-pandemic levels. Meanwhile, the wages and wealth of renters have remained pretty much stagnant for the better part of this century, while homeowners have seen a surge in their net worth since the early 90s, despite the housing bubble bursting in 2007-08.

Mapping San José’s Housing Future

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If you’re a regular reader of our blog, you’ve probably heard of “housing elements” – plans that every California city need to update every eight years to set goals for housing development based on projected growth.

If that sounds super geeky, well, that’s because it is. But it doesn’t make it any less important, especially if you’re considering the affordability of homeownership in Silicon Valley.

For example, here’s a Mercury News article with a map of where the City of San José would like to build 77,500 new homes in the next ten years.

Over the River, Through the Woods

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AAA estimates that about 113 million people will travel for the holidays, with more than 100 million of them traveling by car. That’s a huge increase of 3.6M travelers over last year, and the latest sign that we’re growing more and more comfortable with post-pandemic living. But it could only take one viral surge to turn an entire industry on its head again. How are you getting to grandma’s house this year?