San Francisco Real Estate - Janice Lee

As the world’s second-largest economy, China is at an important turning point. China’s leadership has pledged to put the economy on the right track and be less opaque about its currency moves. Economist Stephen Green and China affairs specialist Andrew Dougherty discuss: •  The outlook for China’s economy and why a soft landing is more likely •  The case against China pulling the trigger on big, one-time devaluation of its currency •  Whether China’s leadership can manage the political and social implications of deep structural reforms •  Pockets of strength in the Chinese economy during this transition to consumption-led growth What are your expectations for China’s economy this year and can a hard landing be avoided? Stephen: I expect China’s GDP to grow in the range of 3% to 4% this year (while the official figures show something above 6%). While China faces serious challenges, I think they can avoid a hard landing. The economy is going through a tough pe...

Sales of previously owned homes climbed in September to the highest level in a year, pointing to growing confidence in the U.S. economy as employment firms. Purchases advanced 2.4 percent to a 5.17 million annual rate, the National Association of Realtors reported today in Washington . Demand was up 1.9 percent compared with the same month last year before adjusting for seasonal patterns. Americans are returning to the real-estate market as employers have added 2 million workers to payrolls so far this year. Sales stand to get an additional boost in the final months of 2014 as the drop in mortgage rates caused by slowing growth in Europe and emerging nations makes properties more affordable for first-time buyers. The decline in borrowing costs “is encouraging for the housing market recovery,” said Brittany Baumann, an economist at Credit Agricole CIB in New York, who projected sales would rise last month. “We see upward trajectory over the next few months, but it’s go...

Shortage of listings and strong buyer demand may create good opportunity for sellers The Bay Area’s housing market has seen a rise in sale prices as strong buyer demand, historically attractive interest rates, an improving economy and a shortage of listings are combining to create a robust seller’s market. The region’s median sale price of $531,000 is up 33% year-to-date compared with the same period last year, according to MLS data analyzed by Coldwell Banker Residential Brokerage. In addition, the average sale price is up 25% over the past year to $680,000. One of the reasons for the surge in prices is that there just aren’t enough homes on the market to meet buyer demand. Inventory has fallen to its lowest level in many years with Bay Area active listings in May down more than 50% from a year ago, according to MLS data. The Bay Area isn’t alone. According to statistics compiled by the National Association of Realtors® the inventory of homes for sale nationwi...