San Francisco’s housing slowdown could spread
Source: Wall St. Journal
As many as 10,000 baby boomers retire daily. Members of this generation are increasingly looking to real estate to diversify their retirement portfolios and boost returns.
San Francisco, once the hottest housing market in the U.S., is now one of the coolest, in a reversal that could presage a broader slowdown if more buyers decide it isn’t worth chasing rapidly rising prices.
Home price growth continues to accelerate in many parts of the country, driven by a lack of supply and rising demand. The S&P CoreLogic Case-Shiller Indices, which cover the entire nation, rose 5.5 percent in the 12 months ended in April, after a revised 5.6 percent year-over-year increase in March.