Thursday, January 14, 2021
Associate Professor of Economics Venoo Kakar shared an economic perspective on San Francisco's housing market recovery as the COVID-19 vaccine rolls out.
Vacancies in San Francisco have more than doubled compared to 2019, but as key sectors anticipate returning to normal operations, some experts believe returning workers and students will gradually increase housing demand. “We don’t expect anything to change dramatically over the next 4-6 months,” says Kakar. “The value of housing is very tightly linked to economic recovery... it’s the local economies, job growth, employment growth, and income growth that is going to determine what happens to housing.” While the future is uncertain, Kakar is optimistic that we’ll start to see San Francisco recover.
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