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Mayor's housing office and planning staff lay out 2008 inventory as market cools; commissioners press for targeted acquisitions
Summary
The mayor's office and planning department told the San Francisco Planning Commission that home prices fell about 20% since April 2008 and that rental occupancy remains high, while commissioners and neighborhood groups urged more clarity on housing-fund levels and targeted acquisition of small buildings for preservation.
Craig Adelman, deputy director of the Mayor’s Office of Housing, told the Planning Commission on May 7 that the city’s housing market had softened since spring 2008 and stressed tradeoffs for policy makers.
"The overall home sales prices in the city are down by about 20% across the city, since April 2008," Adelman said during a presentation on the department’s 2008 housing inventory and related market analysis. He cited Zillow as a source for price movement and said median condo and single-family prices vary considerably across neighborhoods.
Adelman framed the inventory as a data-focused input to upcoming policy work, notably the city’s housing element. He said the inventory is not itself a policy document, but that falling prices coupled…
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