U.S. Tax Haul Still Won't Stop San Francisco's Housing Market
San Francisco is one of the top housing markets in the entire U.S. It is so successful in fact, that the tax overhaul introduced by the government won't prevent home-prices from increasing in the San Francisco Bay area, according to a recent report.
"The scale of the wealth created here and the scale of the technology sector is going to outweigh the effect of the tax plan," said Patrick Carlisle, chief market analyst with Paragon Real Estate Group in San Francisco, according to National Mortgage News.
"The Bay Area is unique because we have companies that didn't exist five years ago and that are now the biggest the world. There's no place on Earth that has a similar dynamic."
Earlier this month, Zillow published a report which pointed towards the San Jose metro becoming the "hottest housing market" in the U.S. for 2018. At the current rate, it wouldn't be surprising if that trend continues for 2019 as well.
Silicon Valley is one of the most successful and booming areas in the country. It is a tech haven that is home to some of the most successful companies in the tech industry. With a stable stream of well-paying jobs, it's hard to see the tax overhaul putting much of a damper on the overall economic growth of the region.
For more information on the consistently budding housing market in San Francisco, click on the image above.
