Developments in Development: Is it over?
It’s official! Two writers have officially called the end of The Boom. It’s over, you guys. It’s done.
So says Wolf Richter, anyway, the author of the Wolf Street blog featured on Business Insider.
‘And what a boom it was. Was ‘ past tense because it’s over. And now jobs and the labor force itself are in decline,’ Richter writes.
Strike two: According to SFGate, foreign investors are losing enthusiasm for parking their money in San Francisco. With inventory up and prices down, it looks like things may be slowing a bit.
Yes, we have built a crapton of condos in the city. Yes, the supply seems to have dampened the rabid demand. Buuuuut! Curbed, citing studies by Polaris Pacific and Paragon, indicates that this may not necessarily mean the bust is here. Just because things are less hot doesn’t mean they’ve cooled ”and demand for other kinds of homes is still rising.