Multifamily Sales And Renting Going Up Says Giro Katsimbrakis
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It is expensive and difficult to find a place to live in San Francisco. There is not a lot of inventory and demand is very high, so rents are extremely high. Trulia reported that rents in San Francisco were up 17 percent in April compared to the year before, making it the fourth-least affordable city in the United States. San Francisco comes behind Miami, New York, and L.A. The median price of a 2-bedroom apartment in the city is $3,450, requiring many to spend about half of their income, based on the average local paycheck. These high rent prices are also raising the purchasing price for multifamily units up to record levels. Throughout most of the country, the peak for multifamily sales around the United States was in 2007 and has since gone down. However, San Francisco is one of two markets in the U.S. that are now higher than that 2007 peak. http://girokatsimbrakis.com
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