The largest used book sale on the West Coast continues this Saturday and Sunday at Fort Mason, with books, audio books, CDs, and DVDs all selling for $3 or less at the 53rd Annual Big Book Sale. SF Music Day takes place on Sunday, with 35 ensembles and 155 musicians performing on four stages between noon and 7:45 PM at the ornate and wonderful San Francisco War Memorial Veterans Building. Admission is free! And finally, the 7th Annual Marina Family Festival also takes place on Sunday, from 11 AM to 6 PM on the Marina Green.
On the “Homes for Sale in San Francisco” front, here’s our report for this week, 9/17/17 – 9/23/17
The World’s Most Valuable Asset Class — Real Estate
HSBC just released a report, distributed at a recent conference, which looks at real estate worldwide.
Global real estate is a more valuable asset class than all stocks, shares and bonds combined. Residential property had a combined value of $168.5 trillion in 2016, and high quality commercial property had a combined value of $32.3 trillion. The value of all gold ever mined throughout history pales in comparison at only $6.5 trillion.
In advanced economies, real estate is a big part of personal and household wealth. As more people grow wealthier in new and emerging economies across the globe, they seek to buy real estate as an investment.
The report profiles 12 global cities, and here’s what it has to say about San Francisco — largely a familiar story to those of us who live here:
“San Francisco is attracting large numbers of young professionals, tech entrepreneurs and other creative people. It has seen an increasing number of successful people migrating out of Silicon Valley in search of an urban, rather than suburban, lifestyle. People from all over the world choose to make San Francisco their home.”
“A small city, just 46 square miles in size, its compactness and walkability is central to its appeal, but that also means that new housing delivery is restricted by a very limited supply of land. Hayes Valley, the Mission District, Mid-Market and SoMa have seen an influx of tech firms, pushing up commercial rents and in turn demand for residential property.”
“Of all the world-class US cities, San Francisco has experienced the highest growth since 2008.”