House the market?

From Bust to Boom?

In news surprising no one, Oakland’s office market has been on the struggle bus. Vacancy is high, leases are down, and the city is still dealing with post-pandemic work life. Some investors see a mess, others see an excellent deal.

Their logic? Prices have dipped just enough that buying now could pay off big when the market evens out. Companies still want to be near San Francisco without paying SF rents, and Oakland has enough government and nonprofit tenants to provide stability. Plus, SF just ordered city employees back to the office four days a week, and if that’s a sign of things to come, Oakland could see a ripple effect.

Still though, crime and public perception need a PR overhaul, and the city needs some love (aka money) to revitalize downtown. But for those willing to wait, the bet is that Oakland’s transit access, affordability, and location will bring office demand back. 🤞 

Speaking of which (shameless plug incoming), I have a beeautiful two-story Uptown condo right in the middle of all the best restaurants, bars, cafes, theaters, grocery stores, public transit, and OFFICES. Just waiting for the right buyer with the vision to see the upside before everyone else. Because as the old saying goes, fortune favors the bold who know when to buy the dip. 🤑 

It’s Expensive to Exist!

California’s insurance situation is heating up — literally and financially. California’s FAIR Plan just sent insurers a $1 billion bill to cover wildfire losses. And guess who’s picking up nearly half the tab? Homeowners, through higher premiums.

Insurance companies are already bailing on California (bye State Farm, bye Allstate) because wildfires = expensive, and they don’t love losing money. Now the FAIR Plan is also struggling. Their fix? Slap insurers with a big bill. But insurers are just handing that bill right back to customers.

Meanwhile, State Farm just got the green light to hike home insurance rates again — this time by 22%, impacting 1.2 million homeowners. That’s on top of last year’s 20% increase. They stopped issuing new policies in May 2023, but the good news? They’re keeping existing policyholders. The bad news? Only for a year. Comforting, right?

Regulators are scrambling for solutions, but it’s giving “hold it together with duct tape and happy thoughts” energy. Meanwhile, homeowners are left with fewer options, bigger bills, and a plan that’s looking less FAIR by the minute. (Sorry, had to.)

Howard Terminal: The Port’s Next Big Makeover?

After a few missteps (remember when Howard Terminal was supposed to be the new home of the A’s? womp womp), the Port has launched a new strategic plan for 2025-2030, and developers are paying attention.

Over 100 companies — from big real estate firms to logistics powerhouses to clean tech innovators — are pitching ideas for what to do with 50 acres of prime waterfront real estate. The goal is to create something that isn’t just an industrial hub, but also makes sense next to Jack London Square’s growing scene.

Some of the ideas are very ambitious. Like, what if we just…built a 50-mile underground tunnel connecting the waterfront to Tracy? (This is an actual proposal, I checked.)

Bottom line is that the Port wants to keep its industrial backbone strong while also making space for something fresh — maybe a little more public-facing, maybe a little more fun. Will they finally deliver this time? Stay tuned!