The story of two markets continues. Median rents in San Francisco are down some 27% percent over the last year. Sales of homes priced under $300,000 are down by about a fifth. And yet, according to the Financial Times, sales are up significantly for homes… Read More
Back in 2006, Paul Graham penned an essay about how to be Silicon Valley. Since then, it seems like every city on the planet has tried to replicate the successes of the Valley. At the time, his argument was pretty simple. Geography used to be… Read More
Another day, another set of announcements about large companies and rich people moving to lower cost US states. Yesterday it was announced that Oracle will move its corporate headquarters from Silicon Valley to Austin, Texas. (If you remember, Elon Musk also recently announced that he… Read More
I was speaking to some friends in New York City over the weekend and they said to me, “you know what Brandon, we don’t really go out at night anymore. It doesn’t feel safe. There are homeless people everywhere and they’ve started to get very… Read More
This month’s issue of Monocle Magazine has a feature on a new masterplanned community to the north of Cartagena called Serena del Mar. Currently under construction, the entire 971 hectare community is slated to be finished by 2030. When complete the developers believe it will… Read More
I don’t love how this WSJ article starts. It seems to place the blame on technology companies for “pumping the west coast full of choking traffic and expensive homes.” But I do really like these charts: They show the gap between the increase in labor… Read More
At the beginning of this year, a16z announced that they co-led a $175 million investment in the real estate company Loft. Based in São Paulo, Loft is doing in Brazil what Opendoor is doing in the US. They are bringing more liquidity to the residential… Read More
Robert C. Ellickson’s recent paper, titled Zoning and the Cost of Housing: Evidence from Silicon Valley, Greater New Haven, and Greater Austin, really holds back when it comes to the shortcomings of zoning ordinances. Here’s an excerpt: Zoning, as practiced in much of the nation,… Read More
The Wall Street Journal’s recent piece about “Silicon Valley invading Toronto” is, in my view, describing a generally positive outcome. We are one of the largest cities in North America (the exact ranking depends on where you draw the urban boundaries). We have more enlightened… Read More
Bloomberg recently published a good summary of Zillow’s business and their move into algorithm home buying and flipping. (They are trying to avoid the “flipping” moniker because of the negative connotations associated with it.) Zillow started buying homes directly from owners last spring. They charge… Read More
