San Francisco has a big problem. The city is projected to have a budget deficit of $907MM by 2022. You would think with real estate prices absolutely booming that the city’s coffers would be flush with property taxes. You’re wrong.
This week I’ve been posting about construction trends in San Francisco. On Monday, I dissected how construction spending is falling off a cliff, but on Tuesday, we were surprised to learn that residential projects aren’t the ones going undone.
Yesterday I posted about construction spending with many asking if this data were specific to single family homes.
If you’ve lived or been to San Francisco in the last 5-6 years, you’ve seen the rapid development that’s going on from Marina Green all the way to Visitacion Valley. Literally, across the entire city.
Foreclosures. The real estate investment community loves them for the potential outsized returns, but in Boomtown times like these, foreclosures are typically far and few between, right? Right.