Tom Butt
 
  E-Mail Forum – 2017  
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  Snapshot of Richmond Economic Indicators
June 7, 2017
 

Richmond unemployment rate is holding steady at a post-WWII low of 4.2%, compared to an even better 3.6% countywide in Contra Costa County.

After a slump in April, home sales prices are headed back up again, currently at a median of $410,000, a relative bargain in the Bay Area (https://www.trulia.com/real_estate/Richmond-California/)

Residential rental rates took a significant dive in late 2016 long before rent control went into effect on January 2017, and they have leveled off with a recent slight downward trend (https://www.trulia.com/real_estate/Richmond-California/), indicating that rent control has  had no discernable effect on lowering or even moderating rents in Richmond. The market has forced rents down, not rent control. Richmond residential rental rates are also a relative bargain in the Bay Area.

 

Snapshot of Richmond Economic Indicators

 

 
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