Fitch Ratings, the New York global credit rating agency, reports that San Francisco Bay is experiencing a house price surge that is now unsupportable by the area’s income levels. Figures from Fitch’s latest US sustainable home price report indicate that San Francisco house prices reached an all-time high in Q3 2015, up an overall around 16% in the past year; 62% above the post-recession low of early 2012. Furthermore, the San Francisco housing market is now 10% overvalued. The last time the Bay area experienced such growth was reportedly during the dotcom era of 1997-2000. Experts cite the booming technology industry as the key factor in this recent price surge although, as yet, it is not thought to be a cause for alarm.
Fitch Ratings, the New York global credit rating agency, reports that San Francisco Bay is experiencing a house price surge that is now unsupportable by the area’s income levels. Figures from Fitch’s latest US sustainable home price report indicate that San Francisco house prices reached an all-time high in Q3 2015, up an overall 10% in the past year; 62% above the post-recession low of early 2012. Furthermore, the San Francisco housing market is now around 16% overvalued. The last time the Bay area experienced such growth was reportedly during the dotcom era of 1997-2000. Experts cite the booming technology industry as the key factor in this recent price surge although, as yet, it is not thought to be a cause for alarm.