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Weekly Roundup – August 13, 2020

August 13, 2020

2 MINUTE READ

Happy Thursday, California!

This week sees housing trends proceed along similar trajectories as weeks past: Californians continue to move and shake their way to greener pastures. Onward, pioneers!

 

Renting? That’s so pre-pandemic.

What’s this all about? Just months ago, rents were soaring, our cities booming with civic life and commerce. But now, that ride is over: statewide, rents have begun to drop and tenants are starting to ask themselves, “Why am I renting if there’s nothing to do?”

It’s no surprise: if you stop the cultural heart of a city — it’s parks, museums, theaters, and business districts — an exodus is sure to follow. Where? To the suburbs of course.

Tell me more: As increasing numbers of city dwellers head for the hills, first-time buyers are having trouble entering today’s under-supplied suburban housing market. But with rents dropping, the only pressure to buy is around securing a mortgage at historically low rates.

For homeowners facing such limited supply and increased competition, it makes sound financial sense to sell (with Reali!). But it begs the question, where to next?

 

Thinking about the future

What’s this all about? With so much focus on the short-term, scientists are doing their best to make sure we remember the long-term. Cash-strapped municipal budgets mean initiatives meant to mitigate the looming effects of climate change are often first on the chopping block.

Tell me more: In California, we respect the delicate balance between ourselves and our environment. However, with budget shortfalls abounding at home and city hall, there are no clear answers when there’s only so much money to go around.

It’s a reminder that involving yourself in the decision-making process, even at the smallest level (vote!), helps Mother Nature out.

Don’t skip this…