There have been whispers of cooling housing and rental prices in the San Francisco Bay Area, but that hasn’t yet translated into practical, noticeable dips for residents on the hunt for something even remotely affordable. In fact, even homes under $1 million — still an enormous, largely unattainable sum of money for many — are almost impossible to come by in San Francisco. To illustrate that point even further, and to show what you can get for less than seven figures, we compiled a list of six-figure homes that sold in the month of October, according to Zillow.

Some of the homes offer more than others, as you’ll see. None are larger than about 1,300 square feet. And a few include interesting amenities, like a surprisingly spacious garden area. See the full list below.

350 Howth St

Neighborhood: ocean view

Sold for: $975,000

This two-bedroom, one-bath home was recently on the market for the first time in 50 years, according to the listing agents. It was originally priced at $1.2 million in July, but sold for well under that. Described as the “perfect starter home,” it’s got lots of carpeted space, a solid sized kitchen, and an odd washer/dryer room with a treadmill and what appears to be a shower in the corner. So a nice little backyard!

View the full listing on Zillow.

146 Vienna St.

Neighborhood: Excelsior

Sold for: $900,000

With three beds and two baths, this 1,329-square-foot home is, believe it or not, larger than most of its competitors in the under $1 million price range. It’s a two-story property in need of some TLC to clean up the interior, and many of the rooms don’t have ample natural lighting. It does include a covered patio and garage, though.

View the full listing on Zillow.

394 Capistrano Ave.

Neighborhood: Mission Terrace

Sold for: $935,000

A two-bedroom, one-bathroom property flanked by two palm trees out front. The listing says you have to walk through the car garage to get to the bathroom, which doesn’t seem ideal. This sold for under the original asking price of $1.1 million.

View the full listing on Zillow.

879 Rolph St.

Neighborhood: Crocker Amazon

Sold for: $918,000

A sleek, updated two-bedroom, one-bathroom home with pretty backyard views, a garden, a deck and a storage area. The kitchen has lots and lots of natural light, but it’s tiny. The bathroom also appears to be quite small.

View the full listing on Zillow.

BEST OF SFGATE

David Dreyfus

230 Brookdale Ave.

Neighborhood: Sunnydale

Sold for: $883,000

It’s only two bedrooms and one bath, but this 1,040-square-foot property makes the most of its space. The living room and kitchen are relatively spacious and inviting. There are plenty of new or updated features in the kitchen and bathrooms.

View the full listing on Zillow.

1149 Plymouth Ave.

Neighborhood: Ingleside

Sold for: $900,000

This Ingleside home features funky colors and textures throughout, including big black-and-white tiling in the kitchen. It’s only one bedroom and one bathroom, but the backyard area is genuinely large and could easily host all sorts of social events.

View the full listing on Zillow.

The post These San Francisco properties bought for lower than $1M in October appeared first on Los Gatos News And Events.

Zheng Liu, vice president at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of October 20, 2022.

• Economic growth has slowed this year. Real gross domestic product (GDP) fell at an annual rate of 0.6% in the second quarter, according to the final estimate by the Bureau of Economic Analysis. Real gross domestic income (GDI), which measures economic activity from the income side and in principle should be identical to GDP, grew at an annual rate of 0.1% in the second quarter, which is much closer to reported GDP growth than the initial estimate of 1.4%.
• Despite the slowdown in economic activity, inflation remains high by historical standards and much higher than the Federal Reserve’s 2% longer-run goal. Helped somewhat by recent declines in energy prices and the easing of durable goods inflation, the 12-month change in the personal consumption expenditures (PCE) price index declined to 6.2% in August from the recent peak of 7.0% in June. By contrast, core inflation, which excludes food and energy prices, has remained high and rose a few tenths in August to 4.9%.
• The surge in inflation from early 2021 through the first half of 2022 was broad based. Price increases accelerated for all major components of the PCE price index. Inflation contributions from goods, food, and energy have moderated somewhat since March. During the same period, inflation for services (excluding energy services) has remained elevated. Non-energy services is the largest component of consumer spending, accounting for about 65% of the total PCE price index.
• The recent rise in non-energy PCE services inflation has been partly driven by the surge in housing costs. The housing component of the PCE price index includes rents of tenant-occupied housing and imputed rents of owner-occupied housing. Spending on housing accounts for about 15% of the total PCE price index and about 24% of the non-energy PCE services price index.
• The 12-month change in the non-energy PCE services price index accelerated from 3.4% in April 2021 to 4.7% in August 2022. Over the same period, the 12-month change in the PCE housing price index surged from about 2% to 6.4%.
• Following the increase in the federal funds rate in March and ongoing policy guidance for further rate increases, the 30-year mortgage interest rate has surged. The increase in mortgage rates likely has contributed to moderating house price growth. The 12-month change in the S&P CoreLogic Case-Shiller US National Home Price Index has eased from the recent peak of 20.8% in March to 15.8% in July.
• However, PCE housing inflation continues to rise, reflecting continued strength in demand for rental housing. The increases in house prices and the surge in mortgage rates have discouraged some potential homebuyers and likely kept many in the rental market, contributing to elevated rent inflation.
• Evidence from episodes of past monetary policy tightening shows that tighter policy can slow PCE housing inflation over time. For example, an unexpected increase in the federal funds rate of one percentage point can reduce PCE housing inflation by up to 3 percentage points, with the peak effects coming after about two and a half years.
• The slow transmission of monetary policy changes to PCE housing inflation reflects the slow adjustments of rents, which are calculated based on averages of rents on existing leases and those for newly signed leases. Once a rental contract is signed, rents typically do not adjust for several quarters or even years.
• One signal that monetary policy tightening might be starting to tame housing inflation emerges from the recent slowdown in the growth rate of asking rents on listed rental properties. For example, the 12-month change in Zillow’s observed rent index has slowed from a peak of 17.2% in February 2022 to 12.5% ​​in August 2022. This development portends slower future housing inflation as changes in rents on newly signed lease contracts gradually enter the calculations for overall average rents and overall PCE housing inflation.
• Since it will take time for housing inflation to respond to monetary policy tightening, we expect housing inflation to continue to push up non-energy PCE services inflation in the next few quarters. We project that headline PCE inflation will decline gradually toward the Fed’s 2% longer-term goal by the end of 2025.

The views expressed are those of the author, with input from the forecasting staff of the Federal Reserve Bank of San Francisco. They are not intended to represent the views of others within the Bank or within the Federal Reserve System. FedViews appears eight times a year, generally around the middle of the month. Please send editorial comments to Research Library.

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• 
  

  AirIndia

  IATA/ICAO code: AI/AIC

  Airline type: Full service carrier

  Stroke(s): Delhi Indira Gandhi International Airport

  Year Founded: 1946

  Alliance: Star Alliance

  CEO: Campbell Wilson

  Country: India

The longest flight between India and the US is set to resume next month. According to a recent report, Air India plans to restart direct flights between Bengaluru in South India and San Francisco in about a month. The service was suspended, citing poor demand due to COVID, but the airline is reportedly bringing it back. The route will, of course, be flown by the 777-200LR.

Back on the map

Air India’s longest nonstop flight is set to resume soon. According to a report by ET Now, the carrier will start a twice-weekly nonstop service between Bengaluru (BLR) and San Francisco (SFO) from October end for its winter schedule.

SIMPLE FLYING VIDEO OF THE DAY

The service was inaugurated during the COVID pandemic on January 10th, 2021. Flight AI 176 took off from San Francisco with four women pilots, 12 cabin crew members, and 238 passengers. It covered a distance of almost 14,000 km on the Atlantic route that had it fly over the North Pole.

Air India plans to resume BLR-SFO service from October end. Photo: Gcmap.com

Being an IT hub, Bengaluru is also on the list of US carriers, as many US West Coast-bound passengers originate from the city. However, nothing has materialized so far.

Suspended in March

Air India’s BLR-SFO service last flew in March, and people in the know cited poor demand for suspending the flight. The Times of India quoted an airline official at Bengaluru airport as saying,

“AI 175 took off from Bengaluru on Saturdays and Tuesdays while AI 176 from SF landed here on Mondays and Thursdays. But the COVID crisis and landing permit issues for the airline in the US saw the disruption of the longest direct flight from South India to the US. Though operations resumed as the COVID situation eased, the flight didn’t have enough passengers.”

However, the ToI reports to an Air India officer saying that the flight was not suspended due to poor patronage but because of the carrier’s Boeing 777s undergoing an overhaul. The source added,

“The flights are getting ready for restart of the longest operation to the US in a big manner, which will be announced soon.”

Air India’s monopoly on the route

With the COVID situation improving, demand for more India-US flights is on the rise. Many people have taken to social media demanding better connectivity between Bengaluru and the US.

Air India also finds itself in an advantageous position to monopolize the route due to the current geopolitical developments. Both United Airlines and American Airlines are keen on establishing direct flights from Bengaluru to the US West Coast, but COVID and then the Russia-Ukraine conflict spoiled those plans.

Earlier this year, American Airlines once again halted plans for its long-delayed flight from Bangalore (BLR) to Seattle (SEA), which was initially set to debut in 2020. Many western airlines, including the ones in the US, are not overflying the Russian airspace, which is vital for an ultra-long-haul flight originating from Bengaluru.

Air India continues to fly over Russia and is, therefore, the only carrier as of now to be able to connect BLR with the US. The airline, in fact, is planning a significant expansion into the North American market by leasing five more Boeing 777-200LRs for these long flights.

Have you traveled on one of Air India’s previous BLR-SFO flights? What was your experience like? Please share your thoughts in the comment section below.

Source: ET Now, The Times of India

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Masters of Scale Summit is designed to immerse leaders in an environment that cultivates innovation, acceleration and co-elevation, including a stage program of exceptional quality, substance and design. The event is uniquely designed for both executives in the room and their teams back home — offering a beautifully filmed, hosted livestream and written takeaways after each session to prime leadership teams around ideas that emerge during the event. In alliance with Capital One Business, Masters of Scale Summit will deepen the collective commitment of both organizations to helping business leaders cultivate winning entrepreneurial mindsets.

The Masters of Scale Summit stage program will feature extraordinary leaders across many disciplines and industries, including Bill Gates, Tyra Banks, Ted Sarandos (NetFlix), Melody Hobson (Ariel Investments) Arianna Huffington (Thrive Global) Dara Khosrowshahi (About), Arlan Hamilton (Backstage Capital) Brian Chesky (Airbnb), Franklin Leonard (The Black List) and Satya Nadella (Microsoft). For the full, current roster of speakers, see below.

Alongside applicants from the Masters of Scale community, invited guests are curated by a world-class group of ‘curation partners’ including Greylock Partners, Sequoia Capital, James Murdoch’s Lupa Systems, Backstage Capital, Bionic (part of Accenture Interactive), Burda Media’s DLD Conference, Capital One Ventures, Cue Ball Capital, Endeavor, Extraordinary Women on Boards, Gingerbread Capital, Liminal Ventures, The Lobby, Raga Partners, The Tony Hsieh Award, SYPartners, Zeno Group, among others — all aimed at convening a community that’s as diverse and distinguished as the speakers on stage. The attendees will be curated to match a very specific composition.

• 40% Unicorn + “Soonicorn” CEOs (Series B or higher)
• 20% CEOs + change-agent executives at global, public companies
• 15% Investors + Board members
• 5% Disruptive, diverse first-time founders at the Series A/seed stage
• 5% Executive Directors of scale non-profits
• 5% Journalists, authors, consultants, and others who spread ideas
• 10% Fascinating people: Artists, scientists, cultural icons and others who spark ideas

“This is the moment to re-invent the live event. We’re designing the Summit to cultivate genuine human connection among the curated group gathered in san francisco — and also re-imagining the livestream for entire teams who participate from afar,” said June Cohen, co-founder of WaitWhat and former Executive Producer of TED. “The stage program will be unlike any other event of the year. We’re building it around genre-defining formats — like twists on debates, tech demos and data visualizations — along with master talks, provocations and the kind of candid peer-to -peer interviews you only get from Masters of Scale.”

“Nothing quite compares to the electricity, the serendipity and the acceleration that happens when people gather in real time,” said Reid Hoffman. “We’re delighted to extend Masters of Scale into a live gathering of this kind, which I believe will unlock many opportunities for acceleration and collaboration, especially given the vibrant nature of this community.”

Home to Masters of Scale Summit is the Presidio Theater — set within a parklike campus full of gorgeous, unexpected spaces for structured events and spontaneous conversation. Immersive evening events, opening night dinners, excursions and outings will make the most of the gorgeous city of san franciscoincluding the legendary Palace of Fine Arts.

Summit organizers are closely monitoring the emerging guidance on health and safety, and will have every precaution built into the event, including on-site COVID-19 testing. In the event of cancellation due to the pandemic, the event will be rescheduled for a later date.

For full program details and to apply for attendance, visit summit.mastersofscale.com.

Speakers are continuously being added. In addition to hosts Reid Hoffman, Bob Safian other June Cohenthe current full lineup of speakers includes: Angela Ahrendts (Apple/Burberry), Shelley Archambeau (Nordstrom/Verizon boards), Tyra Banks, Greg Brockman (OpenAI), Brian Chesky (Airbnb), Patrick Collison (stripes), Hannah Cross (Cedar Psychiatry), Meltmen Demirors (CoinShares), Keith Ferrazzi (Author), Kathryn Finney (Genius Guild) Bill Gates, Arlan Hamilton (Backstage Capital) Kiri Hart (Pixar/Lucasfilm), Melody Hobson (Ariel Investments) David Hornick (The Lobby), Arianna Huffington (Thrive Global) Aurora James (The Fifteen Percent Pledge), Dara Khosrowshahi (About), Sallie Krawcheck (Elevest) Franklin Leonard (The Blacklist) Jane McGonigal (author) Satya Nadella (Microsoft), Reid Robinson (Novamind), Mike Rosenfeld (leadership coach) Linda Rotenberg (endeavor) Ted Sarandos (netflix), Blake Scholl (Boom Supersonic), Jennifer Scubba (demographer), Eric Schmidt (Google), Fidji Simo (Instacart), Mustafa Suleyman (DeepMind), Shelly Taylor (Alamo Draft House).

About WaitWhat

WaitWhat is creating the most valuable independent portfolio of premium IP at the intersection of daily habit and human potential. Downloaded more than 70 million times, WaitWhat’s media properties have defined entirely new genres in the areas of business (Masters of Scale with Reid Hoffman), wellness (Meditative Story), creativity (Spark & ​​Fire) and technology (Should this Exist?). Founded by June Cohen other Deron Meet — the former TED execs who launched TED Talks and led the media organization for a combined 17 years — WaitWhat’s approach to content is unique in the industry. The company’s success is rooted in its ability to scale each property beyond the podcast format, establishing an engaged community and ecosystem that extends into technology products, live experiences, story-driven learning programs, publishing, and first-of-their-kind partnerships.

SOURCE WaitWhat

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SONOMA COUNTY (CBS SF) – It takes more than sporadic showers to make headway against the drought. It will take more storms, and lots of them. In places like Lake Sonoma, the great October storm runs out of legs.

“The rain is really great,” says Chris Tito of Wilson Vinyards. “If you want the wine, you need the rain.”

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A little rain, with more forecast, is good news in Dry Creek Valley, as is welcome news on the other side of the dam.

“We’re still stuck in a drought, there’s no doubt about it,” said Barry Dugan of the Sonoma County Water Agency. “Lake Sonoma currently has almost 50% of its capacity. But that’s a 67% decrease at the same point in time last year. “

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For Sonoma County’s reservoirs, the atmospheric river in late October was a spectacular moment of passing relief. In the weeks in between it has rained just enough that the water flows into Lake Mendocino, but not into the system’s larger reservoir.

“We saw Lake Sonoma stall,” says Dugan. “Now is starting to lose a bit of capacity. So we start to see how the saturation level decreases a little. “

The lake level shows Sonoma received a boost from the storm, followed by a flat line. While a little rain will help recharge the soil, the area desperately needs major storms.

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“So we’re just hoping that this weather pattern can change enough that we regularly see a series of storms in December and January,” says Dugan.

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WASHINGTON (AP / CBS SF) – The Centers for Disease Control and Prevention enacted a new eviction moratorium that would last until October 3 as the Biden government tried to quell mounting criticism from progressives that at-risk tenants were while of a pandemic.

The ban announced on Tuesday could help keep millions in their homes as the delta variant of the coronavirus has spread and states are slow to release federal rental subsidies. It would temporarily halt evictions in counties with “significant and high levels” of virus transmission and cover areas home to 90% of the US population.

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The announcement was a reversal for the Biden administration, which let an earlier moratorium expire over the weekend after a Supreme Court ruling prevented an extension. This tore open a dramatic split between the White House and progressive Democrats, who insisted that the government do more to prevent some 3.6 million Americans from losing their homes during the COVID-19 crisis.

In a speech at the White House on Tuesday, Biden said he was urging the CDC to reconsider its options. However, he still seemed hesitant about whether the new moratorium could withstand complaints about its constitutionality, and said he had sought expert opinions on whether the Supreme Court would approve the measure.

“Most of the constitutional research says it likely won’t pass constitutional pattern,” Biden said. “But there are some important scientists who think that it is possible and that it is worth the effort.”

The president added that the moratorium – even if challenged in court – will “likely give states and cities a little more time” to free up billions of dollars in federal aid to tenants.

Politically, the extension could help close a rift between liberal democratic lawmakers, who urged the president to take executive action to keep tenants in their homes. The government had spent the past few days reassuring Democrats and the country that they could find a way to limit the damage from possible evictions through the use of federal aid.

However, the pressure increased as key lawmakers said this was not enough.

Leading Democratic leaders joined MP Cori Bush, D-Mo., Who has been camping outside the US Capitol for several days. The new congresswoman once lived in her car as a young mother and referred to the experience to urge the White House to prevent widespread evictions.

When she wiped her eyes in front of a crowd in the Capitol following the CDC announcement, Bush said she shed “happy tears.”

“My God, I don’t think we did that,” she said. “We just did the job just by loving people to keep millions in their homes.”

House spokeswoman Nancy Pelosi (D-CA) said it was a day of “extraordinary relief.”

“The looming fear of eviction and exposure to the streets has been removed for countless families across America. Help is here! ”Pelosi said in a statement.

Government officials had previously stated that a Supreme Court ruling had prevented them from imposing a new moratorium without the support of Congress. When the court upheld the eviction ban by 5 to 4 votes until the end of July, a majority judge, Brett Kavanaugh, wrote that Congress must act to extend it further.

But on Tuesday, the CDC cited the slow pace of state and local governments in paying housing subsidies as a justification for the new moratorium.

Aside from the moratorium, Biden has insisted that federal funds – about $ 47 billion previously approved during the pandemic – must leave the door to help tenants and landlords.

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“The money is there,” said Biden.

The White House has said that state and local governments have been slow to pull out federal money and are pushing them to do it quickly.

Treasury Secretary Janet Yellen briefed Democrats in the House of Representatives on Tuesday of work in progress to ensure federal housing aid reaches tenants and landlords. She provided data so lawmakers could see how their districts and states were doing in distributing aid, according to one person who answered the call.

The Treasury Secretary tried to encourage Democrats to work together, despite lawmakers saying Biden should act alone to extend the eviction moratorium, according to someone in the private call who insisted on anonymity to discuss the contents.

According to this person, on the call, Yellen said that she agreed that “we must use all resources” and that she appreciates the efforts of the Democrats and “does not want to leave a stone unturned”.

The CDC imposed the initial eviction ban as part of the COVID-19 response as jobs shifted and many workers lost their incomes. The ban was intended to curb the spread of the virus among people who took to the streets and were taken to emergency shelters, but also penalized landlords who lost income as a result.

National Apartment Association President and CEO Bob Pinnegar said the organization has “always taken the same position – the eviction moratorium is an unfunded government mandate that forces housing providers to provide costly service without compensation and places insurmountable debt on tenants” .

Democratic lawmakers said they were surprised by Biden’s initial decision to end the moratorium, despite the fact that the CDC hinted in late June that it was unlikely to extend the eviction ban beyond the end of July.

MP Maxine Waters, the powerful chair of the financial services committee, has been speaking privately to Yellen for days, urging the finance minister to use her leverage to get states to push the money out the door. However, Waters also urged the CDC to act independently.

Following the CDC’s announcement on Tuesday, Waters released a statement thanking Biden for “listening and encouraging the CDC to act! This extension of the moratorium is the lifeline that millions of families have been waiting for. “

On Monday, Congresswoman Barbara Lee, D-Oakland, joined the Choir of Voices, which has been growing since the eviction moratorium expired, the White House and Centers for Disease Control on Sunday in extending it.

“The pandemic is not over yet,” Lee said in a press release released from her office on Sunday evening. “With the dangerous delta variant becoming widespread, there is still a risk that low-income communities – especially black and brown communities – lose their homes and end up on the streets. Consistent with the executive powers granted during a public health crisis, the White House and CDC should immediately extend the eviction moratorium.

Lee, co-chair of the Majority Leader’s Task Force on Poverty and Opportunity, said her district and California were at the epicenter of the country’s housing crisis. By the time the moratorium expires, an estimated 11 million Americans could be thrown onto the streets as COVID-19 rises again across the country.

“This is more important now than ever as evictions not only leave families without a roof over their heads, but also have the potential to worsen the spread of COVID-19,” she said. “Individual states shouldn’t have to look after themselves. The Biden administration and the CDC can fix this with the stroke of a pen by extending the moratorium.

This latest moratorium will remain in effect until October 3, which may give some tenants more time to apply for emergency funds and assistance.

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© Copyright 2021 CBS Broadcasting Inc. All rights reserved. The Associated Press contributed to this report.

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