SAN FRANCISCO—Prospects for Bay Area real estate markets have shifted significantly according to Emerging Trends in Real Estate 2018, the latest edition of the 39th annual report co-issued by the Urban Land Institute and PwC. In the report, San Francisco falls from 10th place in 2017 to 27th in the 2018 rankings. Oakland also dropped in the rankings from 14th to 20th this year, while San Jose jumped from 17th up to eighth place; the Bay Area's only top 10, GlobeSt.com learns in this exclusive.
ULI and PwC officials weighed in on the report and its future implications for the Bay Area earlier this week, going beyond the rankings released nationally in October.
“Housing is absolutely unaffordable in the Bay Area, and we are dramatically underbuilding. This is partly due to demographics, partly due to urbanization, but also due to self-inflicted wounds in California and Bay Area given our policies as they relate to development,” said Carol Galante, faculty director of UC Berkeley's Terner Center for Housing.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
