Back in May 2018, when pundits everywhere delighted in sounding the death-knell for SF’s residential market due to a host of local challenges including lack of affordability and rampant homelessness, I suggested they might be a bit premature. In the summer of 2020, months into the Covid pandemic, Zillow published data suggesting that SF was again on the skids. Again, I suggested that “this too shall pass.” Condo and home prices proceeded to hit record highs until 2022 when higher interest rates brought the real estate party to a stop, leaving a hangover from which much of the Bay Area — indeed the country as a whole — has yet to recover. ...
