Reading this little article in the San Jose Mercury News, dated Nov. 30, about the job market in the Bay Area, it strikes me as something of the utmost interest in explaining why the real estate market is so imbalanced in the Silicon Valley. (i.e.: too much demand, not enough supply).
This article, which I will simply paraphrase, while giving all credits to the SJ Merc, explains that according to a report from the US bureau of Labor Statistics, the County of Santa Clara saw jobs increase by 3.5 % in the one-year period ending in October 2012.
The San Francisco - San Mateo - Marin metro region had an annual growth of 3.4 %, and the East Bay 2%.
Only the Houston region in Texas showed a higher jobs increase: 3.6%
More work means more people attracted to the area. I believe there is also a parallel between freeway traffic and housing prices... Don't you think so? I have never seen 280 so congested after 3pm between Los Altos and San Francisco.Thank you for reading!
Francis
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Coldwell Banker invites you to warm and brighten the spirits of those in our community this holiday season by supporting One Warm Coat, a coat drive that collects and distributes warm coats to the less fortunate in our local community during the cold winter months.
Our office is accepting donations of new or gently used coats for One Warm Coat now until December 14.
To make a donation or for more information, please contact me today.
Coldwell Banker invites you to warm and brighten the spirits of those in our community this holiday season by supporting One Warm Coat, a coat drive that collects and distributes warm coats to the less fortunate in our local community during the cold winter months.
Our office is accepting donations of new or gently used coats for One Warm Coat now until December 14.
To make a donation or for more information, please contact me today.
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