Real estate investors are shunning the threat of Brexit and have ranked London, UK as the world’s top city for investment.
While New York’s slip is big news, the most significant drop for US cities in the survey is San Francisco’s plunge from the top 5 since 2011, to number 11 in 2017.
Among US cities, New York shares its top ranking with Los Angeles and the complete top 5 is:
SFO-Bay Area cost of living is too high in my view, & with SALT tax deduction gone & temporary tax benefits for consumers unlike corporation tax cut(which is permanent) its not a comfortable life here.
Fact: people have been calling for the demise of the Fab 7x7 for EONS, yet the venerable old girl stands tall as ever and is kicking and scratching as ever…
Not everyone has the privilege to live and OWN in the Fab 7x7…
Tell me again what happens when the bridge tolls go up and your job is in the Fab 7x7??? Cha-ching for me…
You know it, and I know it, it is all about the JOBS. If your job is there, and the money from that JOB is in the Fab 7x7, you have no say, right? You gotta pay the man or no JOB for you…
I have a colleague who is British. He is wondering if he should sink money into a house in Berkeley or buy in London and rent it out. I think latter is better in the current Bay area market.
Having said that I think there is still some pain to be felt in London RE. The NYT had an article last month about the NHS where European nurses and doctors are fleeing the hospitals at an alarming rate. I would think that is true for other verticals and not just healthcare/banking.
I never understood the hype about SF. You’re near the ocean, but it is always too cold to go into. Even the air temperature at the beaches is cold. SLO and San Diego actually have usable beaches and ocean.
Oh, and then there’s the fog and 60 degree summer. Giants games sound like fun until you realize you need a winter jacket in July.
I think cities designed before everyone owned a car suck. They are only livable if you stick to your little neighborhood which defeats the purpose of living close to so much. The incovenience of getting around within the city is terrible.
Come on, you’re caked in RAIN a good chunk of the year yet housing prices are as high as ever and you are wondering why the Fab 7x7 is as good as it is? Probably for some of the same reasons why Seattle is desirable. Jobs, outdoor activities, restaurant scene, etc…
SJC is closer to Apple and Google. Google wants to put 20,000 employees downtown. BART will connect to Diridon and make it the largest transit hub west of the Missippi. Even the 49ers moved down to Santa Clara. Once they implode the collesium, the South Bay will have the only pro football stadium. I forgot NVDA, INTC, CSCO, NOW, PYPL, AMAT, ADBE, and it’s nicely between TSLA HQ and factory. They are roughly equal distance from Facebook and Oracle although Oracle also has the old Sun campus in Santa Clara. Good luck finding an equivalent roster of tech companies in SF.
San Jose has more room to grow south towards Morgan Hill and Gilroy. Is there any place equally close to SF that can add massive amounts of housing? You know Marin won’t.
Salesforce is the only top 5 employer in SF that’s tech. You do have Gap though. There are a bunch of unicorns that can’t go public without it being a major down round. Actually, now I’m wondering if there are any SF IPOs from the last 5 years that are above IPO price? Some how Uber and all their scandals and mistreatment of women happened in a city that’s as liberal as it gets and prides itself on how PC it is.
Ok, I see you have been taking advantage of the new recreational marijuana laws…
First, look at the geography/topography of San Jose. Nothing remarkable about the area. Flat as a whistle. No water nearby, no mountain ranges. What you wasted your time typing about is, yes, it is a business park. For sure, I give you that. But people aren’t going to want to live in a business park. Look at all of the desirable cities in the world. A lot of them have something unique or interesting. What is interesting about San Jose? There is no water nearby. There are no mountain ranges nearby. San Jose doesn’t have a rich history that it can even leverage to get people to buy in. What San Jose is, is simply a suburban sprawl town that lacks character. And you want to challenge SF? Please…
To say that San Jose will overtake San Francisco culturally and in terms of world recognition is a joke. That will never happen. In fact, as San Jose becomes the office park for more people, more people will want to live in San Francisco for the fun aspects. Come on, why even discuss it? We all know it is true…
Tell me, @marcus335, how does San Jose transform itself completely to lose this title:??? Putting a pathetic light display downtown ain’t gonna cut it…
San Francisco will always be a tourist destination and San Jose will always be a tech hub. They complement each other due to their proximity. It’s not a competition but a symbiotic relationship. Each place will always reap benefit from the economic halo created by the other place. That’s why I own properties in both places.
SF is mostly young people that rent. Once people get married and start having kids they leave. You can’t be a world class city if you aren’t a good place to raise a family. SF is the party girl people date for fun before they get married.