Partner, Title Sponsor corn irand Carey Commercial new mark, night, frank. And we are going it hear from dan clef man and dan class man some 14 year ago really came up with this idea, we sat down over lunch and there was another person involved allen cline knelt and which came up with this idea and so i have to give dan much much credit for that. applause . Very much so. And in 2012, cornish and carey, dominated the area of commercial real estate with over 6 billion in leasing and Sales Transactions so very good there. And you are soon going to hear from dan and he is going to give us that a good look at sort off what real estate activity look like here in the bay area. So in addition, to cornish and carey new mark night frank, help me thank our generouses for bringing you this program they are Golden Gate University and ill tell you they prepare the most work ready profiles that professionals that you are going to find and we so much appreciate our partnership with Golden Gate Univers
Out the last deck a i did ask so it says how many newer homes do we really need here and its one and a quarter million and so may be between one and a quart million and one andahalf million is where we aught to be and so now im going to backup and go to the previous slide and if this was penciled in here it would be a horizontal line through this graph and we would find that we were building way too much at the height of the bubble and so where are we going from here we are going back to 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
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
And if this was penciled in here it would be a horizontal line through this graph and we would find that we were building way too much at the height of the bubble and so where are we going from here we are going back to 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 lo
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 have awful you here with us this morning. I think there is more than 600 and we are glad that you gathered with us. Our tradition at this event is to altern