All about Life & Real Estate in Silicon Valley – Broker Michael Koo's Blog.

San Francisco has permitted only 5% of its state-mandated housing units, falling short of its 82,000-unit goal by 2031. Many Bay Area cities are doing worse, with some below 1% of their targets. Despite state laws to streamline approvals, high construction costs, interest rates, and tariffs deter developers. A 2024 law to fast-track SF projects has had minimal impact, showing that cutting red tape alone isn't boosting housing development.

California homeowners are facing challenges with homeowners insurance due to risks associated with knob-and-tube wiring, an outdated electrical system prevalent in older homes. Insurers view this wiring as a liability, leading to higher premiums or policy cancellations. While some homeowners argue that K&T is safe, insurance companies maintain it poses a fire risk. Homeowners are advised to inspect their wiring, consider upgrades, and shop around for coverage to avoid potential issues. Taking proactive steps can help mitigate risks and ensure insurance coverage.