Welcome to the online edition of our new newsletter, Housing Deconstructed. We'll drop a new edition every Thursday, focusing on all the housing news you need to know from the Bay Area and beyond.
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The latest
Should an abandoned theater built in 1970 be protected as a historic property? The theater is the key in a debate about affordable housing in a San Francisco neighborhood. Some say the Stonestown area building is an eyesore that needs to be torn down to make room for more homes (2,900 units in fact), but others say it’s history and has to be preserved, even if that means fewer affordable homes. NBC Bay Area's Sergio Quintana sheds light on the debate.
Confused about the housing market? You're not the only one. The once red-hot housing market has definitely shifted across the U.S., leaving many wondering what's happening now and what will happen next. CNBC takes a look at the key factors behind the topsy-turvy market -- from mortgage rates to inflation concerns.
A new plan approved by BART will bring new housing to Oakland. The transit agency has approved a plan that would create close to 500 market-rate and affordable homes around the Lake Merritt BART station over the next 10 years. The first phase of construction isn't expected until late 2023 or early 2024. Read more about the plan here, including a second phase that include an office complex.
No surprise here... California is NOT one of the top 10 cheapest states to buy a home in, according to a report from HomeBuyer.com. If you're looking to make a move, you might want to consider the great state of Iowa, which topped the list. Check out the rest of the top 10 states in this CNBC Money Report here.
By the numbers
How much?!
We know housing is expensive in the Bay Area. VERY expensive. But a parking spot for $90,000? That could literally be a down payment on a house. However, in San Francisco's South Beach neighborhood. it could also buy you an exclusive parking spot. NBC Bay Area's Ginger Conejero Saab reports on the listing that is somewhat rare since many HOAs typically don't allow for the sale of parking spaces separately.
How much money do you need to make a year in order to afford rent for an average-sized apartment in San Francisco? $173,000 -- according to a study from ApartmentGuide.com. That's assuming you're following the rule-of-thumb advice from finance experts who recommend your housing costs not exceed 30% of your income. Oakland is even more expensive, coming in at $177,000. Check out more from the list of the 15 most expensive cities here.
In-depth
Are short-term rentals, such as Airbnbs, causing housing shortages? New data and maps show how short-term rentals (STRs) are affecting rents and housing in major U.S. cities. Big cities like San Francisco and Los Angeles have long had laws on the books regarding STRs, yet, data shows, that those big cities are still grappling with their long-term impact. Check out our in-depth look here.
Investigative series
Tired of being priced out of the Bay Area's overwhelmed housing market? So is Evan Fu. The 26-year-old has been living in his converted van full time for more than two years, documenting his journey on YouTube with an account that now has tens of thousands of subscribers. NBC Bay Area investigative reporter Candice Nguyen talked to Fu and takes us on a tour of his unique van life. Watch her full report here. You can also watch our Investigative Unit's four-part series on California’s housing crisis here.
Overpriced, Overwhelmed, Over It! Why is our beloved Golden State so incredibly overpriced when it comes to housing? Our investigative team went on a year-long investigation to find out. Binge all episodes of our investigative series here now.
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