Renting vs. buying: What renters and homeowners pay monthly to live in San Francisco Bay Area

The study, which looked at average rents across all types of units versus median monthly mortgage payments in the same areas, found that in San Francisco, renters spend $1,983 less monthly than those paying a mortgage — the highest difference between renting and buying in the nation. San Jose was close behind with a $1,510 difference.

Renters had the biggest financial advantage over buyers in Nacogdoches, Texas, where people spend $555 less per month each month by renting — just over a quarter of the difference seen in San Francisco, according to Rent.com’s numbers. But No. 5 brought it back to California, with Santa Cruz at $476 saved monthly by renting.

But just because renting is less expensive than buying in the Bay Area doesn’t mean either is “affordable.” In the San Francisco-Oakland-Berkeley metro area, the average rent is $3,218 a month. The current average monthly mortgage is $5,201 in San Francisco and $3,295 in Oakland, according to Rent.com. San Jose has an average rent per month of $3,104, compared to an average monthly mortgage of $4,614.

However, because the study at average rent and median mortgages across all types of units, from studio apartments to three-bedroom homes, there are likely exceptions to the data.

“Just because renters as a whole are going to save this amount of money based on what we found, doesn’t mean that it’s going to impact everyone equally,” Brian Carberry, the managing editor for Rent.com, said. “It’s going to be different based on sizes” like comparing a buying larger home to renting a larger apartment versus doing the same for studio-sized housing.

Renting is more often cheaper on a month-to-month basis than buying on the West Coast than on the east or middle of the country: Eight of the top 20 places where rent payments are lower than mortgage payments are in California, according to the data.

But that’s far from the norm. Of the 234 regions in the analysis, paying a monthly mortgage is cheaper than renting in 215 of them, Carberry pointed out. So what’s going on in California?

“I think it truly is just that housing prices in California are just so much higher than they are in a lot of other places,” Carberry said. “That’s not to say that there aren’t affordable housing options for buyers in California, but in a general sense, it’s just a lot more expensive to buy something in California.”

But that doesn’t necessarily mean that renting will be cheaper than buying in the long run, Carberry said. Rent prices tend to go up each year as people renew their leases, he explained, whereas a mortgage payment is usually fixed over a 30-year period. That means there is likely a breakeven point somewhere, which the Rent.com study did not examine.

A similar study by mortgage website LendingTree used different methods but also found that San Francisco and San Jose were among the top U.S. metro areas where renting is cheaper than owning a home with a mortgage, following only New York City. The LendingTree study was based on self-reported numbers from the U.S. Census Bureau’s 2019 American Community Survey and calculated the average costs of owning and maintaining a home — including utilities, fees and taxes — on top of the mortgage.

“At some point, there does become greater value in buying versus renting,” Carberry said. “If you’re just going to look at one year, like this year versus next year, renting is more affordable by a significant amount. But in the long-run, you’re going to be better off buying.”

Rent is also going up in big Bay Area cities — San Francisco, San Jose and Oakland are all back on the rise after a pandemic slump, according to a rent report from listings website Zumper. On the home-buying front, Bay Area home buyers are seeing more options on the market compared with last year, but those houses are more expensive than ever, according to a report from real estate listing website Zillow.

But Carberry thinks the gap between renting and mortgage costs will narrow in the next year as the housing market starts to cool down.

“Right now the housing market is just so hot, and I don’t think that’s sustainable,” he said. “I don’t think a bubble is going to burst or anything, but I do think that in a year or so, people won’t be paying as much for homes as they are now.”

On top of that, people shouldn’t make their decision whether to buy only based on broad data like this, he said.

“I would just encourage people to do your homework,” Carberry said. “Figure out what you can afford and what’s going to work for you and think about long-term versus short-term.”

Danielle Echeverria is a San Francisco Chronicle staff writer. Twitter: @DanielleEchev Email: danielle.echeverria@sfchronicle.com

Article source: https://www.sfchronicle.com/local/article/Renting-vs-buying-Here-s-what-renters-and-16275225.php

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In one Bay Area city, nearly half of homes are worth over $1 million (it’s not San Francisco)

That was the largest share by far among big U.S. metros. San Francisco followed at No. 2, with 36.3% of its homes in the $1 million-and-over category.

The shares are based on the latest available data from the Census Bureau, which looked self-reported home values collected from 2015 to 2019. The estimates are adjusted to 2019 dollars.

The numbers are distinct from the more commonly published median home price, which is based on sales data — San Francisco’s median home price, for example, was $1.8 million in April.

San Francisco’s metro area as defined by the census includes Oakland, Berkeley and San Mateo, along with other cities like Walnut Creek and Redwood City. San Jose’s metro area includes Sunnyvale and Santa Clara, as well as smaller South Bay cities like Palo Alto.

San Jose and San Francisco represent an extreme, according to the LendingTree study — across all 50 big U.S. metro areas, only 4.3% of homes hit or pass the million-dollar mark, only a fraction of the numbers seen in the bay.

“San Francisco and San Jose are both pretty darn densely populated areas that tend to be home to really high-paying industries like tech, for example,” Jacob Channel, senior economic analyst for LendingTree, said. “So, as a result, you have a lot of wealthier home buyers who are competing for not a ton of houses, which puts a really high upward pressure on housing prices.”

Two other California metro areas round out the top four on the list: Los Angeles ranked third after San Francisco, with 17% of its homes valued at or over $1 million, followed by San Diego with 12.2%, according to LendingTree’s analysis.

Across the four California metros, an average of 28.19% of homes have values of at least $1 million. The study said that along with tech, the entertainment industry contributes to the concentration of wealth in these areas.

Channel expects that this year, the shares of million-dollar homes in these areas will be even higher.

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“Throughout 2020 and throughout this year as well, the housing market has been really, really hot. Home prices have really gone up across the whole country,” he said. “So it is very likely that there are even more million-dollar homes in both San Jose and San Francisco.”

Other big metropolitan areas in the top 10 for share of million-dollar homes include No. 5 New York City at 9.9%, No. 6 Seattle at 8.5%, No. 7 Boston at 7.4% and No. 8 Washington, D.C., at 6.7%. Rounding out the top 10 were No. 9 Miami at 4.5% and No. 10 Denver at 3.5%.

On the other end of the spectrum, Buffalo, N.Y., was the metro area with the lowest share of million-dollar homes at 0.5%.

For this study, LendingTree used data from the U.S. Census Bureau’s 2019 American Community Survey with five-year estimates and looked at the share of owner-occupied homes with or without a mortgage valued at or above $1 million. To find that, LendingTree divided the number of owner-occupied housing units priced at $1 million or more by the overall number of owner-occupied housing units in the area.

Danielle Echeverria is a San Francisco Chronicle staff writer. Twitter: @DanielleEchev Email: danielle.echeverria@sfchronicle.com

Article source: https://www.sfchronicle.com/local/article/Almost-half-the-houses-in-this-big-Bay-Area-city-16266144.php

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Renting vs. buying: Here’s what renters and homeowners pay monthly to live in the S.F. Bay Area

The study, which looked at average rents across all types of units versus median monthly mortgage payments in the same areas, found that in San Francisco, renters spend $1,983 less monthly than those paying a mortgage — the highest difference between renting and buying in the nation. San Jose was close behind with a $1,510 difference.

Renters had the biggest financial advantage over buyers in Nacogdoches, Texas, where people spend $555 less per month each month by renting — just over a quarter of the difference seen in San Francisco, according to Rent.com’s numbers. But No. 5 brought it back to California, with Santa Cruz at $476 saved monthly by renting.

But just because renting is less expensive than buying in the Bay Area doesn’t mean either is “affordable.” In the San Francisco-Oakland-Berkeley metro area, the average rent is $3,218 a month. The current average monthly mortgage is $5,201 in San Francisco and $3,295 in Oakland, according to Rent.com. San Jose has an average rent per month of $3,104, compared to an average monthly mortgage of $4,614.

However, because the study at average rent and median mortgages across all types of units, from studio apartments to three-bedroom homes, there are likely exceptions to the data.

“Just because renters as a whole are going to save this amount of money based on what we found, doesn’t mean that it’s going to impact everyone equally,” Brian Carberry, the managing editor for Rent.com, said. “It’s going to be different based on sizes” like comparing a buying larger home to renting a larger apartment versus doing the same for studio-sized housing.

Renting is more often cheaper on a month-to-month basis than buying on the West Coast than on the east or middle of the country: Eight of the top 20 places where rent payments are lower than mortgage payments are in California, according to the data.

But that’s far from the norm. Of the 234 regions in the analysis, paying a monthly mortgage is cheaper than renting in 215 of them, Carberry pointed out. So what’s going on in California?

“I think it truly is just that housing prices in California are just so much higher than they are in a lot of other places,” Carberry said. “That’s not to say that there aren’t affordable housing options for buyers in California, but in a general sense, it’s just a lot more expensive to buy something in California.”

But that doesn’t necessarily mean that renting will be cheaper than buying in the long run, Carberry said. Rent prices tend to go up each year as people renew their leases, he explained, whereas a mortgage payment is usually fixed over a 30-year period. That means there is likely a breakeven point somewhere, which the Rent.com study did not examine.

A similar study by mortgage website LendingTree used different methods but also found that San Francisco and San Jose were among the top U.S. metro areas where renting is cheaper than owning a home with a mortgage, following only New York City. The LendingTree study was based on self-reported numbers from the U.S. Census Bureau’s 2019 American Community Survey and calculated the average costs of owning and maintaining a home — including utilities, fees and taxes — on top of the mortgage.

“At some point, there does become greater value in buying versus renting,” Carberry said. “If you’re just going to look at one year, like this year versus next year, renting is more affordable by a significant amount. But in the long-run, you’re going to be better off buying.”

Rent is also going up in big Bay Area cities — San Francisco, San Jose and Oakland are all back on the rise after a pandemic slump, according to a rent report from listings website Zumper. On the home-buying front, Bay Area home buyers are seeing more options on the market compared with last year, but those houses are more expensive than ever, according to a report from real estate listing website Zillow.

But Carberry thinks the gap between renting and mortgage costs will narrow in the next year as the housing market starts to cool down.

“Right now the housing market is just so hot, and I don’t think that’s sustainable,” he said. “I don’t think a bubble is going to burst or anything, but I do think that in a year or so, people won’t be paying as much for homes as they are now.”

On top of that, people shouldn’t make their decision whether to buy only based on broad data like this, he said.

“I would just encourage people to do your homework,” Carberry said. “Figure out what you can afford and what’s going to work for you and think about long-term versus short-term.”

Danielle Echeverria is a San Francisco Chronicle staff writer. Twitter: @DanielleEchev Email: danielle.echeverria@sfchronicle.com

Article source: https://www.sfchronicle.com/local/article/Renting-vs-buying-Here-s-what-renters-and-16275225.php

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S.F.’s real estate market is an outlier in one big way, according to latest Zillow data

Inventory in San Francisco has been rising monthly since February, according to the report, but nationwide, inventory saw its first monthly rise since July 2020. And inventory in San Francisco has been seeing year-over-year gains since last August, while nationwide inventory in May was down 31% from last year.

Matt Kreamer, a data public relations senior manager for Zillow, said the Bay Area is a “definite outlier” compared to the rest of the U.S.

“The Bay Area is really the only place inventory has been up from last year,” he said.

 S.F.s real estate market is an outlier in one big way, according to latest Zillow data

For-Sale Inventory in San Francisco in May 2021.

Zillow Economic Research

However, “That hasn’t done a lot to slow home value growth or the pace of sales,” he said. “Much of that annual change has to do with how incredibly low it was a year ago, so there’s still a long way to go before inventory catches up to demand.”

While more homes are available, the Bay Area’s housing market has remained red-hot: Prices are at record levels and rising, selling within days, often at well over asking price, according to Zillow’s May market report.

A typical home in San Francisco is worth $1.26 million, which is the record high for the city, according to Zillow. That’s up 11.6% from a year ago and 2.8% since April. The value of a typical home as calculated by Zillow is an average of the middle third of the market, minus the top and bottom 5%. The full methodology can be found here.

 S.F.s real estate market is an outlier in one big way, according to latest Zillow data

Zillow Home Value Index in San Francisco in May 2021.

Zillow Economic Research

Homes in San Francisco are staying on the market for about nine days before going under contract, with 61% of homes selling above the list price in March compared to 46% in March 2020.

Zillow data shows that, in San Jose, a typical home is worth $1.38 million, up 11.4% more than a year ago and 3.3% since April. Homes in that city stayed on the market for about 11 days before being scooped up, and 60% of homes sold above the list price in March compared to 48% in March 2020.

Kreamer said while home values are up more than 11% from a year ago in the Bay Area, growth in the region was still behind the national rate of 13.2% and well behind some popular destinations for local residents seeking to relocate to elsewhere in the state — such as Sacramento and San Diego, where growth in home values was near 20%.

“The Bay Area is the most expensive housing market in the country, and growth had slowed and even turned negative in places before the pandemic because so many people simply couldn’t afford to buy there,” Kreamer said. “But the pandemic brought with it the Great Reshuffling — masses of Americans moving to homes that better suit their new needs — and much of the current growth is being carried by suburbs in the East and North Bay, while it’s much slower in the city of San Francisco.”

Kreamer said Zillow expects home values to keep rising at a similar pace in the short-term with continued high demand, low mortgage rates and increasing numbers of Millennials looking to buy homes amid record-low inventory.

“Our current forecast calls for 15% growth nationally by a year from now,” he said. “The Bay Area’s likely to be slightly below that, but still incredibly high by historical standards.”

 S.F.s real estate market is an outlier in one big way, according to latest Zillow data

Zillow Observed Rent Index in May 2021.

Zillow Economic Research

Rental prices are also increasing in the Bay Area, going up 1.6% since April in San Francisco with a typical rent of $2,867. Typical rents are found by calculating price differences for the same rental unit over time, then aggregating those differences across all properties repeatedly listed for rent on Zillow. The company also created weights for the index based on the latest U.S. Census Bureau data. Find the methodology here.

Rental prices in San Francisco bottomed out at $2,786 in January and have been increasing monthly ever since, according to Zillow. In San Jose, typical rent was $2,874, up 1.6% since April. Prices in that city bottomed out in February at $2,801 and ticked up each month since.

Rents in the Bay Area are still well below their prices a year ago — down 5.9% year-over-year in San Francisco and down 4.9% year-over-year in San Jose — but the gap is closing, the Zillow report said.

Kellie Hwang is a San Francisco Chronicle staff writer. Email: kellie.hwang@sfchronicle.com Twitter: @KellieHwang

Article source: https://www.sfchronicle.com/local/article/S-F-s-real-estate-market-is-an-outlier-in-one-16256383.php

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COVID live updates: California cash prizes helped spur vaccinations in poorest communities, state official says

Latest updates:

SF Board of Education approves budget for 2021-22 school year, including funds for pandemic recovery: The board unanimously approved the $1.16 billion total operating budget for the 2021-22 school year on Wednesday. As part of the budget, SFUSD expects to receive $140 million in federal stimulus funding that will help students return to in-person learning with increased academic and wellness support in the fall. “As we emerge from the pandemic and prepare to return all students to in-person learning in the fall, we are prioritizing programs for our highest-need students,” said SFUSD Superintendent Dr. Vincent Matthews. “We are very glad for the federal stimulus and state grants as our costs have continued to rise. This is a much-needed short-term remedy to support and stabilize our students as they return from distance learning and pandemic-related challenges.”

California’s “Vax for the Win” incentives drove vaccinations in low-income areas: Gov. Gavin Newsom’s cash prizes of up to $1.5 million and other prize incentives helped slow the drop in COVID-19 vaccinations in the lowest income areas of the state, according to Erica Pan, the state epidemiologist. She told a briefing Wednesday that in the week ending June 14, those living in communities classified with the least healthy conditions received 29% of all vaccine doses administered, representing an increase of 1% in each of the previous four weeks. Weekly vaccination rates in those areas have now outpaced all others for four weeks in a row. “We are continuing to assess the effectiveness of this program, and early evidence suggests that incentives are a contributing factor for some individuals to get vaccinated,” Pan said.

Lisbon surge blamed on delta variant: A COVID-19 surge in Lisbon has pushed Portugal’s daily new cases to a four-month high. The nation’s 14-day cumulative COVID-19 cases per 100,000 people has risen to 130 — over double what it was three weeks ago. The government has already banned travel into and out of the Lisbon region on weekends. Experts blame the delta variant, estimating it accounts for more than 70% of cases. The government is widely expected to announce new restrictions for Lisbon after a Cabinet meeting on Thursday.

High-profile S.F. school mom turns to private education after son’s pandemic learning loss: A mom who has spent the better part of 11 years volunteering in San Francisco school classrooms and the front office, serving as PTA president and leading the Parent Advisory Committee is abandoning the public schools to enroll her son in private school. The move comes after she and her husbanc saw their son fall behind during distance learning, and his school appeared to have no specific plan to address learning loss in the fall. Read the full story from Jill Tucker here.

Vast undercount of U.S. cases last year, new study says: Nearly 17 million coronavirus cases went undiagnosed in the United States by mid-July 2020, suggesting the virus was much more prevalent — nearly five times more so — than was believed, according to a new study from the National Institutes of Health. Researchers estimated that for every diagnosed case during spring and summer of 2020, there were 4.8 undiagnosed cases. A statement from Bruce Tromberg, director of the National Institute of Biomedical Imaging and Bioengineering, said Tuesday that the study “helps account for how quickly the virus spread to all corners of the country and the globe.”

“We will be the canary”: Missouri is becoming a cautionary tale for the rest of the U.S. as the pandemic eases: It is seeing an alarming rise in cases due to the fast-spreading delta variant and stubborn resistance among many people to getting vaccinated. Intensive care beds are filling up with surprisingly young, unvaccinated patients. “If people elsewhere in the country are looking to us and saying, ‘No thanks’ and they are getting vaccinated, that is good,” said Erik Frederick, chief administrative officer at Mercy Hospital Springfield, inundated with patients as the delta variant rips through the largely non-immunized community. “We will be the canary.”

Delta variant spurs delay in Israel reopening to tourists: Israel has postponed the planned reopening of the country to vaccinated tourists over concerns about the spread of the infectious delta variant of the coronavirus, the Associated Press reports. Israel was set to reopen its borders to vaccinated visitors on July 1. It had already started allowing groups of vaccinated tourists to enter in May. But after a rise in infections in the past week, the government said Wednesday that it would be pushing the reopening date until Aug. 1.

Wall Streeters told to vax up and show up: Wall Street’s big investment banks, known for prizing in-person meetings, are sending a message to their employees this summer: Get back into the office and bring your vaccination card. Morgan Stanley said this week that all employees must attest to their vaccination status. The unvaccinated will have to work remotely, though the bank’s top executives say they want everyone back in the office by September. It is among several big banks requiring employees to return to the office and also provide documentation or make a formal declaration confirming vaccination.

Government begins study on pregnancy and vaccination: A government-funded study is evaluating immune responses from COVID-19 vaccines in pregnant or postpartum people, the National Institute of Allergy and Infectious Diseases announced Wednesday. Researchers will measure the development and durability of antibodies against the coronavirus in those vaccinated during pregnancy or the first two postpartum months. The study will assess vaccine safety and look into antibody transfer to infants across the placenta and through breast milk. The study by the Infectious Diseases Clinical Research Consortium will fill “gaps in our knowledge” and inform personal and policy decisions, said Dr. Anthony Fauci, director of NIAID. CDC research shows vaccination rates have lagged among pregnant women.

Vaccination benefits outweigh risks of rare heart condition, CDC researchers say: The Food and Drug Administration will likely add a warning about a risk of myocarditis and pericarditis to information sheets for COVID-19 vaccines from Pfizer and Moderna, an agency official said Wednesday. But cases of the heart inflammation are so rare that the benefits of COVID vaccination far outweigh risks linking it to the vaccines, CDC researchers told the agency’s advisory committee on immunization Wednesday. The cases linked to vaccines are milder and easier to resolve than typical cases, they said. CDC says 323 cases have been confirmed among vaccinated those under 30, a tiny percentage among the millions of shots administered — for instance, 79 myocarditis or pericarditis cases were reported among 16- and 17-year-olds receiving nearly 2.3 million doses. Dr. Rochelle Walensky, head of the CDC, said Wednesday at Milken Foundation event that data “will overwhelmingly demonstrate that the benefits of vaccination far outweigh the risks.” Read more here.

It’s root, root, root for the vax shots: Starting Friday people who get vaccinated at one of San Francisco’s designated COVID vaccination sites will receive two free tickets for a Giants game between July and September, the city and the Giants organization announced Wednesday. The tickets will be first come, first served, while supplies last. The promotion is part of Major League Baseball’s “Vaccinate at the Plate” national effort to increase vaccination rates. “While we’re proud to have been the first major city in the country to administer at least one dose to 80% of our eligible residents, we’re not going to slow down our efforts to reach each and every San Franciscan,” said Mayor London Breed.

They rejected vax rule and were fired or resigned: More than 150 health-care workers who did not comply with a Houston-based hospital system’s vaccine mandate have been fired or resigned, more than a week after a federal judge upheld the policy, the Washington Post reports. Houston Methodist — one of the first health systems to require the coronavirus shots — terminated or accepted the resignations of 153 workers Tuesday, spokeswoman Gale Smith said.

“Would you like fries with that shot?” McDonald’s gives free food with vaccinations: Pop-up clinics at McDonald’s restaurants in California started offering free COVID-19 vaccines this week at some locations, giving a coupon for one free menu item to those who get shots at the fast-food spots. No appointment or health insurance is required and walk-ups are welcome at all locations, McDonald’s said in a post. The promotion, a partnership with California’s health department, will be available at restaurants in San Francisco, Santa Clara, Sacramento, Solano, Yolo and Monterey counties.

Delta making inroads in unvaccinated regions: The rapid spread of the coronavirus delta variant is poised to divide the United States again, with highly vaccinated areas continuing toward post-pandemic freedom and poorly vaccinated regions threatened by greater caseloads and hospitalizations, the Washington Post reports. Delta cases are taxing hospitals in a rural, lightly vaccinated part of Missouri and hospitalizations are on the rise in states such as Arkansas, Nevada and Utah, where fewer than half of those eligible have received at least one dose of vaccine, according to data compiled by the Post.

Trust in news industry in U.S. is lowest of 46 countries: Trust in the news has grown globally during the pandemic — by an average six percentage points, with 44% of people saying they trust most news most of the time, a report published Wednesday finds. The United States is far below that, however, with the lowest levels of trust, 29%, among 46 countries surveyed by the Reuters Institute Digital News Report 2021. Finland has the highest levels of trust, 65%. “Political divides fuel much of this mistrust in the United States, with those who self-identify on the right being more than twice as likely to distrust the news compared with those on the left,” the report said.

New York to sunset state of emergency Thursday: New York’s state of emergency will end Thursday, Gov. Andrew Cuomo told a news conference Wednesday. “Fighting COVID and vaccinating New Yorkers are still top priorities, but the emergency chapter of this fight is over,” the governor tweeted. CDC guidance will remain in effect, requiring masking on public transportation and for unvaccinated individuals in public places, among other guidelines. Local jurisdictionscan enforce stricter restrictions. “Get out of the house!” Cuomo said in a briefing. “Go experience New York. Go to a movie. Go to Radio City Music Hall!”

Pandemic alters plans of nearly 8 in 10 high school juniors, seniors: Nearly 80% of American high school juniors and seniors say the pandemic has affected their post-graduation plans, and 72 percent of those age 13-19 have had mental health struggles, a nationally representative survey of 2,400 youths by the nonprofit America’s Promise Alliance shows. Among those changing plans, one-third said they would attend college closer to home; one-quarter said they would attend a two-year instead of four-year institution; 17% said they would attend college remotely; and 16% were postponing college, the New York Times reports.

Nearly every new COVID-19 death is preventable, CDC chief says: Most recent COVID-19 deaths have been in unvaccinated people, Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said Tuesday. Vaccines “are nearly 100% effective against severe disease and death — meaning nearly every death due to COVID-19 is particularly tragic, because nearly every death, especially among adults, due to COVID-19 is at this point entirely preventable,” Walensky said at a White House briefing. She urged holdouts to get their shots, especially with the increasing threat of the highly transmissible delta variant.

Virus continues hammering South America: Colombia reached 100,000 confirmed deaths from COVID-19 this week, the tenth country in the world to do so. The nation of 50 million it had the world’s third-highest per capita death rate from COVID-19 over the past seven days, according to Oxford University data. The country’s president blamed anti-government protests. More contagious virus variants are also seen as contributing. Fatigue with safety steps like face masks, and crowded living conditions and fewer restrictions on gatherings have also fueled contagion in South America, where 5% of the world’s population has seen almost a quarter of all COVID-19 deaths.

Steepest drop in U.S. births in nearly 50 years: Births in America declined 4% last year over 2019, a pandemic baby-bust that exacerbated a trend already occurring, a new report from the CDC’s National Center for Health Statistics found. It was the steepest annual decline since 1973. Birth rates dropped in every month of 2020, compared to 2019, with most of the largest declines in December, November and October, a sign that the pandemic may have delayed some parents’ decisions to have children. The largest declines for the second half of 2020 were seen in New Mexico (11%), New York (9%), and California, Hawaii, and West Virginia (8% each), the report said.

Pandemic job loss worst for older men: Men 55 and older showed some of the steepest declines in labor force participation during the pandemic as rates dropped among all demographics, AARP reports. In May, labor force participation among men ages 25-54 was down 1.3 percentage points from February 2020, just before the pandemic began. Men 55 and older experienced a 2.3 percentage point decrease. Labor force participation is the percentage of the population that is working or actively seeking work. Age discrimination played a role along with other factors, AARP said.

Olympics not looking too fun: The pandemic-delayed Tokyo Olympics are not looking like much fun— for athletes, fans, or the Japanese public, the Associated Press reports. They are caught between coronavirus concerns, with few people vaccinated on one side — and on the other, politicians hoping to save face by holding the games and the International Olympic Committee with billions of dollars on the line. The decision to proceed with the Olympics has shredded Japan’s famous consensus culture.

Pandemic real estate twists: Home values increased in most of the Bay Area during the pandemic, while dipping slightly in San Francisco as working from home negated the need to endure city expenses. But both San Francisco and San Jose have ended up among the top U.S. large cities with the most houses valued at over $1 million, according to a new study. San Jose was No. 1 among the 50 largest cities, with almost half of its owner-occupied, single family homes valued at $1 million or more. Read the story here.

Why did some Bay Area businesses get PPP loans, but not others?: A Chronicle analysis of data compiled by Reveal shows that, in the Bay Area, businesses in higher-income or predominantly white census tracts were far more likely to have received a PPP loan than businesses in areas that are lower-income or have a higher share of Black and Hispanic residents. Read the full story here.

COVID cases jump in Arkansas: Arkansas saw the highest one-day increase in reported coronavirus infections since March on Tuesday, the Associated Press reported, with 485 new cases. Vaccines in the state are open to anyone at least 16 years old. So far, about 41% of the state has received one vaccine dose, and 33% are fully vaccinated.

CDC head says adult deaths “entirely preventable” with vaccines: Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said at a White House briefing that adult deaths from COVID-19 were “entirely preventable at this point” thanks to the efficacy of vaccines, Axios reported.

S.F. to extend eviction moratorium as negotiations over state rent protection continue: San Franciscans struggling to pay rent in the pandemic will have another six-month reprieve after the Board of Supervisors voted Tuesday to extend a city eviction moratorium that mirrors the state’s protections. Read the full story here.

CDC panel to examine heart inflammation cases in young people after COVID vaccinations: Advisers for the Centers for Disease Control and Prevention are set to meet Wednesday to consider possible changes to COVID-19 vaccinations of adolescents and young adults as a result of reports of heart inflammation among a small number of younger vaccine recipients. Read the full story here.

Article source: https://www.sfchronicle.com/local/article/COVID-live-updates-Latest-California-news-16266593.php

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