"If you're going fishing, you've got to put a worm on the hook. What's my other option? Not being in it?" said Storm Duncan, highlighting the lengths he is willing to go to acquire Anthropic shares.
In addition to 7,000 new units of housing that are currently under construction and should be ready for occupancy within the next year or two, there are now 11,100 net-new units for which building permits have either been issued, approved or requested, and another 27,400 units in projects that have already been approved but not yet permitted (which includes the majority of the 10,500 units by Candlestick, 7,800 units on Treasure Island and 5,680 units at Parkmerced, projects which have overall timelines measured in decades, not years).
These [California metros] just became hotter markets, and so, there's less inventory, there's more demand, so that means it becomes more attractive for someone who is an investor. The flurry of investor activity could be from investors betting on a continued artificial intelligence boom and an emphasis on return-to-office mandates in California metros.
The supply side factor is, I would say, by far the biggest difference between San Francisco and Austin. Austin is just building a ton, and really, I would say setting kind of a good example for growing in a way that actually meets increasing demand.