Bay Area Retains Tech Crown and Place in Top 10

This chart shows the unemployment rate in the Bay Area as of mid-year 2016 (courtesy of Paragon Real Estate Group).

SAN FRANCISCO—During the past few years, San Francisco has arguably been one of the most attractive markets in the United States, consistently being rated at the top of the emerging trends in real estate survey by PwC US and the Urban Land Institute. The market is facing the challenge of convincing the rest of the market that San Francisco’s boom does not necessarily need to be followed by a bust. Recent growth may not have been sustainable, but it doesn’t mean that normalized growth is a bad thing, GlobeSt.com learns.

The recent strength of the San Francisco economy has created shortages in labor, housing and commercial space, resulting in a quick rise in costs. San Francisco’s highly regulated operating environment can make it a challenge to address issues such as housing and commercial space shortages, while the housing industry, in particular, is reporting a rise in organized resistance.