Oakland’s Golden Gate neighborhood is conveniently situated at the crossroads of Oakland, Emeryville and Berkeley. History Established in 1885, Golden Gate was originally the 150-acre town of Klinknerville. It was named after rubber stamp tycoon Charles Alexander Klinkner, who developed and built 75 homes in the area. It was known as one of the prettiest and most prosperous suburbs around the great harbor of the Pacific coast. Three years later,...
Sacramento has been hit hard by California’s declining home market. Post-recession growth has been slow, with most of the state and local government jobs being cut after the 2008 recession. Home sales volume and construction has stalled, with developers waiting for the market to recover. Home Sales Volume Sacrament sales volume in 2018, however, has steadily improved, beating the statewide trend of flat sales volume. A major reason for Sacramento’s...
Within the past few decades, black neighborhoods in many cities have experienced gentrification – a dramatic shift towards better-educated and more affluent residents in the demographic composition. Whether you’ve been witness to rapidly changing demographics in your neighborhood or noticed an influx of Starbucks cafes while passing through areas you were once cautious of visiting, gentrification is hard to ignore. But it’s far from being all glitter and rainbows with...
After years of steady home price increases, almost every market in the U.S. has experienced a slowdown. This is especially true in California, where a market shift seems to be happening. While the biggest media coverage has been given to the Bay Area – home of the hottest real estate markets in the U.S. since 2012 – Los Angeles county, Orange county, and Riverside county have also experienced a significant...
While home affordability remains an important issue across the U.S., no other state faces a worse situation than California. The Golden State is infamous for high rents, skyrocketing home prices and a large homeless population. In fact, according to an article published in Mercury News,[1] the number of people living on the streets rose 13.7 percent from 2016 to 2017 – approximately 134,000 people. Data from the Harvard Joint Center...
Southern California home sales has seen the worst crash ever in the market, sending huge waves to the nation of yet another bubble that is about to burst. Sales of both new and existing houses dropped 11.8 percent Y-O-Y, with the prices shooting up to a record high according to data by corelogic. The supply for new homes in the 2nd quarter of the year rose at 3 times the...
Affordability has become a major issue in the Californian housing market. For years rising prices in the country’s most populous state has meant that homeowners coming from the underprivileged communities find it almost impossible to purchase property. However, steps are being taken to alleviate the problem. For instance, San Bernardino recently became the first Inland Empire community to receive a $20 million help fund from the California Affordable Housing and...
Unlike other Californian cities, which date back their roots to the 18th and 19th centuries, Irvine began its history in later in the 20th century. Yet, despite of just celebrating its 45-year anniversary, the city has grown to become one of the crown jewels of the Orange County. Irvine currently boasts a population of a quarter million people and offers great job and real estate opportunities, along with beautiful landscapes,...
Homes in California keep getting pricier and surprisingly many people want to live here! California is attracting high income people who are creating more wealth, but for the middle and low income earners like the teachers are forced to move because housing has become extraordinarily expensive. Upshot recently took a look at how much housing costs in various cities in the United States in relation to how much economists think it...
Real estate market is a dynamic market, and will keep changing from time to time and 2019 will see some major changes with the top threats being rising mortgage rates and the general economy according to the Counselors of Real Estate (CRE). The counselors also broke down a list of some longer term issues to watch out into the foreseeable future. Top threats in the real estate market Rising interest...