The perennial debate about whether or not it makes more sense to rent or buy continues, video above via the PBS News Hour.
San Francisco is a market unlike most others (if I had a nickel for every time I blogged, that…), and in our city by the bay we are approximately opposite the national stats with regards to percent of owners. While I don’t know what the numbers are exactly at the moment, we historically are about 30 – 35% owner occupied properties, and 65 – 70% tenant occupied properties.
San Francisco hasn’t had the national meltdown that other markets have experienced (Modesto, Stockton, Las Vegas, Arizona to name but a few), and I wonder if some of that might be related to the fact that property was so expensive to start with that it acted as a barrier to purchasing homes by folks that weren’t really qualified in the first place. So there you have it folks, in some crazy way our incredibly expensive homes might have been a blessing in disguise.