You think our housing market is bad?

San Francisco on Monday from Twin Peaks.

San Jose and San Francisco are in the top 10 worst housing markets in the world, according to a new study.

Demographia International Housing Affordability Survey, an annual ranking of more than 400 cities worldwide, ranked San Jose 5th least affordable and San Francisco 9th.

As this story points out, the ranking vary: CoreLogic, another outfit, recently ranked SF worse than San Jose. According to them, the median single family house in San Francisco is $1,325,000, in Santa Clara County $1,093,000, in San Mateo, $1,385,000.

I’d be rooting, “C’mon, guys! We can knock Hong Kong off the top!” but the obscene prices have a dubious affect on Stockton. As I wrote here, 24.7 percent — a quarter of all Stockton homeowners — bear a “severe” mortgage cost burden of over 50 percent of monthly income.

When Visionary Home Builders built 30 affordable units, 60 percent of the 700 applicants were from Oakland.

The problems that is causing, ranging from food insecurity to homelessness, are crisis level. Yet there’s virtually no homebuilding in Stockton. I touched on why here.

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    Michael Fitzgerald

    Mike Fitzgerald is The Record’s award-winning metro columnist. His column runs in the paper three times a week. Born in San Francisco, he was raised in Stockton. His column covers diverse beats including, sometimes, the offbeat. Read Full
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