Where real estate meets rhythm | Developer, investor, live music enthusiast, and mountain seeker.

​ If you want to understand real estate markets, go to the open houses. Earlier this year in Pacific Heights, a two-bedroom, one-bath co-op hit the market. To reach the front door you had to climb eight flights of stairs—85 steps in total, no elevator. Fourteen offers later, the property sold for $1.62 million—more than $400,000 over the asking price. That’s San Francisco right now. For the past few years, much of the national housing market has been stuck in neutral. Mortgage rates remain elevated, affordability is stretched, and transaction volumes have slowed across the country. But markets never move in perfect unison. And increasingly, San Francisco is starting to look like its own economic universe again. The AI Economy Is Rewriting the Market A powerful mix of forces is pulling demand back into the city. The first—and most obvious—is the explosion of artificial intelligence companies. Capital is flooding into the sector, and the epicenter of that investment rem...

​ For decades, the idea of the California Dream was pretty simple: work hard, build a career, buy a house, and ride the appreciation wave. For a long time, that formula worked. But the latest numbers suggest something has changed. According to data from Cotality, highlighted recently in The Wall Street Journal, roughly 17.5% of home transfers in California last year were inherited. That means nearly one out of every five homes changing hands didn’t sell on the open market — they passed from one generation to the next. To put that in perspective, the national average sits around 8.8%. California is literally double the rest of the country. As someone who develops and invests in real estate, that number says a lot about where the market is — and where it might be headed. The Shift From Ownership to Inheritance If you go back about 30 years, the picture looked very different. In the mid-1990s, only 8.7% of property transfers in California were inherited. The overwhelmi...