Enjoy the breakfast, we have a big program this morning so we are just going to go ahead and get started so welcome to all of you. I am mayor aye hustles im San Francisco public Blood Pressure of San Francisco Business Times and on behalf of our partner criteria require and carey and knew mark frank and all of our sponsors welcome to our annual mayors annual for cast and happy valentines day to awful you and i have already gotten a value ten from mayor lee. Are you already fee feelings love this morning we have later pastries for you. This is the 14th year we post together this to look at the i state of city in his our region and there have been so many changes if you think about that have happened in each of these cities and sounding bay area it is last 14 years and if you look at the activity the cranes until the air the Hospital Building activity the activity ature ports and airports and hospitality sector the booming tech sector and all of the future plans, think about the changes
Lot better than whereas quarter would indicate and if you look at the forecast here we are looking for two gdp growth in the next years and so how do we get there and what are the various drivers of that and the first case is that residential construct construction is going to help and that is what got us into this mess so it may seem counterintuitive this is the most macro measure i can use to show the residential activity across the country and obviously this fell off the cliff during the recession and has not meaning fully retraced ground during that time period what might be useful is to think about if this is the demand for new homes what is the real im sorry the supply of new homes what is the demand for it how many new homes do we really need and nor to get a sense for that i look at this data series from the United States Census Bureau and this is house of information and if you are young couple getting a first house or an individual whos you know, living in school and getling
Our partner criteria require and carey and knew mark frank and all of our sponsors welcome to our annual mayors annual for cast and happy valentines day to awful you and i have already gotten a value ten from mayor lee. Are you already fee feelings love this morning we have later pastries for you. This is the 14th year we post together this to look at the i state of city in his our region and there have been so many changes if you think about that have happened in each of these cities and sounding bay area it is last 14 years and if you look at the activity the cranes until the air the Hospital Building activity the activity ature ports and airports and hospitality sector the booming tech sector and all of the future plans, think about the changes that will happen in the next 14 years and each of these cities and in our region so we are going to hear a little bit about the future and some of the priorities and what the outlook is into this coming year and we are really delighted to hav
One and a quarter or one andahalf million or so overt course of next five years and considering we have been at 600,000 or so, if we go to one. 2 million that is a double in the pace of reconstruction activity the and twice as many framers roofers and home inspector and is then that has a booying fantastic on the overall economy having said that im not living with my head in the sand here i recognize that a lot of markets are still suffering a little bit and this graph show yous you the change of value in home price from their local market peak to where they are at present the case sowler composite and San Francisco is halfway through the pack there down to about 33 and so whole values are still off from where they were before but if you look at where we are from the low point until where we are today, San Francisco is looking a little bit better and oakland is not a member city and they randomly take 20 cities that are plead broadly representative of the Housing Market and San Francis
Enjoy the breakfast, we have a big program this morning so we are just going to go ahead and get started so welcome to all of you. I am mayor aye hustles im San Francisco public Blood Pressure of San Francisco Business Times and on behalf of our partner criteria require and carey and knew mark frank and all of our sponsors welcome to our annual mayors annual for cast and happy valentines day to awful you and i have already gotten a value ten from mayor lee. Are you already fee feelings love this morning we have later pastries for you. This is the 14th year we post together this to look at the i state of city in his our region and there have been so many changes if you think about that have happened in each of these cities and sounding bay area it is last 14 years and if you look at the activity the cranes until the air the Hospital Building activity the activity ature ports and airports and hospitality sector the booming tech sector and all of the future plans, think about the changes