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

To all great Americans around the world, a very Happy Fourth of July to you all.
This day is incredibly significant as the day the United States officially became its own nation.
Let’s celebrate America’s birthday with festivals, parades, fireworks and other festive activities.The 4th of July marks the day America became a country where people have a right to life, liberty, and the pursuit of happiness.

California struggles to build enough housing, especially affordable options.
High construction costs are a major factor, including:

– Building materials
– Government regulations
– Impact fees

Average home price is ~$785K, reflecting the state's expensive real estate market.
Requires ~$157K down payment, indicating significant upfront costs.

Potential Vote in November: Bay Area residents might vote on a property tax increase to fund affordable housing in November.Decision on Amount: Officials are considering a $10B or $20B bond measure for the ballot.

Approximately 2.5 billion Father's Day cards are sent each year.
Neckties have become a popular traditional gift for Father's Day.
"World's Greatest Dad" is a popular Father's Day phrase.
Breakfast in bed is a common Father's Day treat.
Wishing a fantastic Father's Day to all the dads who strive to be the best versions of themselves.
To every father figure making a positive impact, Happy Father's Day!

Flag Day is the American flag's birthday party every June 14th!
Flag Day was proclaimed in 1916 but officially recognized in 1949. Talk about a late celebration!
Betsy Ross, a seamstress, sewed the first flag. Imagine if designers today made flag-inspired outfits!

Sharp increases in mortgage rates and home prices since the pandemic have driven up the income required to afford a home across the nation.

California tops the list with the highest salary requirement for buying a median-priced home, at $197K annually.

California's housing construction is slowing down due to several factors.
Rising labor and material costs, strict regulations, and high borrowing costs make it difficult for developers to make a profit.