The Latest From Chip & Par

Happy Spring, everyone!

There seems to be energy in the air as we see signs of people back to the office.

In an interview with CNBC shortly after his win, Mayor Lurie said that the city's recovery starts with "City Hall going back to the office and that his administration will be going back to the office five days a week". However, he will need to overcome union contracts, which won't be easy. The City is the second largest employer in San Francisco after Salesforce.

The city's approximately 34,000 workers are represented by thirty five different unions according to San Francisco Department of Human Resources data. There are thousands of state workers based here and most go into the office only twice a week. Getting this group back full time would be a huge boon for downtown. The mayor recently set April 28 as the deadline for city workers to be in-office four days a week...we wish you luck, Mayor Lurie!

Did You Know...

The new tariffs could increase builder costs anywhere from $7,500 to $10,000 per home, said Rob Dietz, chief economist at the National Association of Home Builders, citing estimates from U.S. homebuilders. The greatest impact to homebuilders will be from lumber cost increases, which recently spiked 5%. (Fortune)
California and Texas rely heavily on undocumented labor, with Texas alone employing an estimated 400,000 undocumented construction workers - nearly half of it's work force. In New York City, immigrants make up 63% of the construction workforce, with approximately 40% being undocumented (home-economics. us)
Credit reports are no longer impacted by medical debt. More than 100 million Americans are burdened with medical bills they can't pay. In early January, the Consumer Financial Protection Bureau issued new rules banning credit agencies from including medical debt on credit reports. (WSJ)

We are watching March...

We are now moving into our spring selling season, typically the most heated of the year, and usually seeing the year's highest median home sales prices. Will inventory show up? So far it has been slim pickings.

In ALL of San Francisco, there are currently 233 single family homes available and 576 condos available for sale.

If you're looking for a house in Pacific Heights with a $5m budget, there is one home available.

If you're looking for a house in Noe Valley with a $2.5m budget, there are four homes available, one of which is a fixer.

If you're looking for a house anywhere in the city with a $1.5m budget, there are twenty seven homes available primarily in the western and south east portions of the city.

The lack of single family homes once again highlights our imbalance in construction. Take a look at the chart below; the majority of homes were constructed prior to 1960, with condo construction dominating in subsequent decades. Will the rising costs of construction, along with tariffs, slow down renovation projects? We don't see it, given what a precious commodity a single family home has become. However, adding more single family home inventory will remain challenging with our overly complex permitting and regulations.

Report created in good faith using data from sources deemed reliable but may contain erros and subject to revision. Last period fibures are prliminary estimates based on data available in early January. All numbers approximate, and may change with late-reported activity.

More charts, more charts, more charts

Woof woof, we let the dogs out.

We're all about dogs and kids, and this year, we're the official sponsor of Dogfest 2025! This event benefits McKinley Elementary, which is near and dear to our hearts. Come join us in Duboce Park as we judge the dog shows, raffle off a new Trek e-bike, and introduce you all to Rosie and Emma, the official co-sponsors of the event. mckinleyschool.org/dogfest/

Save the Date !

Saturday April 26th

Duboce Park

click below for details

Last but not least.

Spring's done sprung! What better way to celebrate the season of growth and renewal, than sharing some sage advice, sure to help us all become happier shinier people?

Aristotle’s 10 virtues for happiness....

Identify what you fear and face it.
Learn what your “appetites” are, and get a handle on them. This can include substances and behaviors.
Find balance in how you use your time and spend your money: “Be neither a cheapskate nor a spendthrift.”
Give back generously, especially to people you care about and causes that matter to you.
“Focus more on transcendent things; disregard trivialities.”
Control your temper.
Don’t lie about anything, even to yourself.
Avoid “struggling for your fair share.”
Forgive people, for yourself.