I attended a luncheon yesterday at which economist Ken Rosen spoke. Surprisingly, he was pretty positive about San Francisco real estate. Of course, by “positive,” I mean he stated that we’ll probably be seeing a challenging market through 2009, but that things will start recovering in 2010.
His message? View real estate in San Francisco like you would a long-term investment. If you are planning to purchase property and retain it for five to ten years, Rosen thinks that now is a good time to get into the market. Compared to the rest of the country, he believe San Francisco is doing pretty well due to the stronger job market. It seems that the tech world is doing us a lot of good.