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Real Estate Roundup: Are Bay Rental Prices Near Their Peaks?


Recent news of interest to homebuyers, home sellers, and the home-curious includes a debate on whether Bay Area rent prices will cool off or keep gaining. And a new study explains why surging employment rates amongst millennials are key to the country's housing market making a full recovery.

Bay Area rental prices rose by just a few dollars from the third quarter to the fourth quarter, a sign that they could be reaching a plateau. But at least one well-known economist isn’t buying it.

According to an article in the San Jose Mercury News, which cites data from RealFacts, rents increased by $8, quarter over quarter, in Alameda, San Francisco, and San Mateo counties and rose by $5 in Santa Clara County. Rents in Contra Costa County were up by $17 from the previous quarter.

Despite the slowdown, Christopher Thornberg, founding partner at Beacon Economics, told the publication that a combination of rapidly rising incomes and limited housing stock in the Bay Area means that rental prices aren’t likely to top out anytime soon.

In the past, Thornberg’s prophecies have come to pass; the San Jose Mercury News points out that he was one of the few economists to predict the U.S. housing market crash.

For more real estate news, go to https://compasscaliforniablog.com/are-bay-area-rents-near-peaks


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