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July 12, 2023



From local realtor Raziel Ungar's e-newsletter....like I said....

The San Francisco Chronicle also noted that homes for sale in the Bay Area are at their lowest level in 20 years. In fact, on a 12-month-rolling basis, the number of new listings AND the number of sales are both at their lowest points in well over 20 years! Perhaps the biggest wild card has been severely depressed new-listing activity as potential sellers have held back – ascribed to the “mortgage lock-in effect” – which not only artificially constrained the number of sales, but put upward pressure on prices as buyers, once again, competed for an inadequate supply of homes for sale.

Paloma Ave

Based on this news, what are the chances that our democrat politicians will slow down spending increases?

Not a chance! Time to increases taxes and fees!


Also old folks are waiting to die so their kids can inherit the home.

If they sell the home to their kids then the kids have to pay taxes on the current value of the home.



SAN JOSE — Three downtown San Jose housing tower projects have encountered delays due to a murky economy, sky-high interest rates and the withdrawal of a key tech partner from the highrises.

The housing towers are located in downtown San Jose’s South First Area, or more familiarly, the SoFA district, and together would produce a combined 474 residential units, once they are all constructed.

One unique feature of the three towers was the involvement of Nabr, a tech startup that uses software to automate and customize how people choose and design their homes and craft financing packages for potential ownership.

Nabr collected deposits from people who wished to rent the apartments in a program that would enable people to eventually own their apartments. At one point, Nabr reported the waiting list was in the thousands.

Now, however, Nabr has pulled out of the project of three towers and has returned all of the deposits. The tech startup, which in August 2022 had raised $48 million in a venture financing round, has decided to shift out of the San Jose market.

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