I saw a few interesting real estate articles recently that capture some of the trends in the California market.
A company with locations in Los Angeles and San Francisco is renting out individual bunks in a home for $1,200 per month. You get a bed, and a shelf, and a wall mounted TV. There might also be a curtain built it. Guests are not allowed into the building – only residents.
Google has partnered with a developer to build $15 billion worth of real estate on property they own in the Silicon Valley. They hope to have 15,000 residential units, of which at least 5,000 will be “affordable,” once the project is complete. They are specifically earmarking $250 million to support affordable housing.
The Berkeley City Council has voted to prohibit natural gas connections to new low-rise residential buildings. The effort appears to be geared towards combating climate change, with the focus on converting over to electric utilities like heat pumps and induction cooktops that can be powered by renewable energy sources.