Homeowners in San Francisco looking to sell in the troubled city are a whopping four times more likely than the average US home seller to take a loss, according to real estate brokerage Redfin.
Residents looking to get out of the city — where a once-trendy downtown area has descended into a drug-addled hellscape, and historic hotels have been converted into roach-infested “Single-Room Occupancy” housing for vagrants — can expect to sell their San Francisco abode for $100,000 less than they bought it for.
Roughly 12.3% — or one in eight — of the homes sold in the Bay Area during the three months ended July 31 was purchased for less than the seller bought it for, Redfin found.
The figure is a 5% increase from the same period a year ago, is higher than any other major US metropolis and a staggering four times the 3% national rate of homeowners who take a loss when selling their homes, according to the real estate firm.
Detroit is home to the second-highest share of homeowners who take a loss in their home-selling transactions, at 6.9%, followed by Chicago and New York, where 6.5% and 5.9% of homeowners take a loss in selling their homes, respectively.
Though the share of New York homeowners who reported a loss was half that in San Francisco, the cities were tied for the largest median loss in dollars, at $100,000, Redfin found in a separate analysis.
Thus, it’s not a surprise that San Francisco, Detroit, Chicago and New York all rank among the top 10 cities Redfin found residents want to move out of.
San Francisco ranks No. 1, New York No. 2, Chicago No. 5 and Detroit No. 9, according to Redfin.
Across the US, the average homeowner who didn’t profit off of selling their home lost $35,538, according to Redfin, which analyzed Multiple Listing Service data across the top 50 US cities of homes that were owned by the same party for at least nine months before the sale.
States where homeowners were least likely to sell at a loss: San Diego, Boston, Providence, R.I., Kansas City, Mo., and Fort Lauderdale, Fla.
In each of these cities, only about 1% of homes sold for less than the seller originally paid, Redfin reported.
Redfin attributed San Francisco’s unfortunate housing stats to a sharp decline in home prices triggered by high mortgage rates, which climbed to their highest level since 2001 last month.
As of April, the city’s median home price was down over 13% year over year — triple the nationwide slowdown of 4.2% — swiping a whopping $60 billion in the total value of homes since last year.
In addition, home prices in the Bay Area fell because the metro area was hit hard by mass layoffs in the tech sector, Redfin said.
Major tech firms based in San Francisco like Apple, Google, Meta and Salesforce all conducted rounds of layoffs within the past year.
In one of the largest layoffs San Francisco saw in recent months, Meta sacked 21,000 employees as part of Mark Zuckerberg’s so-called “year of efficiency.”
Salesforce also axed some 7,000 staffers — 10% of its workforce — at the beginning of this year after rapid pandemic-era hiring left the company with “too many people” amid an economic slowdown.
And late last year, Elon Musk infamously slashed his staff at Twitter, now known as X, in half, handing nearly 4,000 workers pink slips.
Week 7 shook up the College Football Playoff picture. No team earned a more impactful result than Indiana, whose win at Oregon is now the best in the country during the first half of the season. Indiana’s playoff chances jumped 21%, climbing to a 93% chance to make the playoff, according to the Allstate Playoff Predictor.
Not only are the Hoosiers off the bubble, but Indiana also is chasing a first-round bye as one of the top four seeds, having cemented its place alongside Ohio State and Miami as one of the nation’s best teams.
Indiana wasn’t the only winner, though, as South Florida and Texas Tech both saw their playoff chances jump by at least 15%.
Below you’ll find one team in the spotlight for each of the Power 4 leagues and another identified as an enigma. We’ve also tiered schools into three groups. Teams with Would be in status are featured in this week’s top 12 projection, a snapshot of what the selection committee’s ranking would look like if it were released today. Teams listed as On the cusp are the true bubble teams and the first ones outside the bracket. A team with Work to do is passing the eye test (for the most part) and has a chance at winning its conference, which means a guaranteed spot in the playoff. And a team that Would be out is playing in the shadows of the playoff — for now.
The 13-member selection committee doesn’t always agree with the Allstate Playoff Predictor, so the following categories are based on historical knowledge of the group’s tendencies plus what each team has done to date.
Reminder: This will change from week to week as each team builds — or busts — its résumé.
Spotlight: Tennessee. The Vols have looked like a borderline playoff team against unranked opponents in recent weeks, beating Mississippi State and Arkansas by a combined 10 points with one overtime. Offensively they’ve been elite, averaging 300 yards passing and 200 rushing per game. Defensively, they need to stop the run to make to challenge in the SEC. They’ll have a chance against Alabama on Saturday to further legitimize their hopes. With a win, Tennessee’s chances of reaching the playoff would jump to 52%, according to the Allstate Playoff Predictor. Tennessee ranks No. 10 in ESPN’s game control metric and No. 19 in strength of record. The Vols are projected in the committee’s No. 12 spot this week, which means they would get knocked out of the actual field during the seeding process to make room for the highest-ranked Group of 5 champion. The five highest-ranked conference champions are guaranteed spots in the playoff, so if the fifth team is ranked outside of the committee’s top 12, its No. 12 team gets the boot.
Enigma: Texas. The Longhorns took a baby step toward a return to CFP relevance with a big win against Oklahoma, but it was their first win against a Power 4 opponent and their first against a ranked team. Texas has the 15th-most-difficult remaining schedule, and with two losses is already in a precarious position. The Longhorns will play three of their next four opponents on the road (at Kentucky, Mississippi State and Georgia). There were encouraging signs from the win against the rival Sooners, from the stingy defense that flustered quarterback John Mateer all game to what looked like an improved offensive line that gave quarterback Arch Manning some time to throw. He completed 16 of 17 passes for 119 yards and a touchdown when under no duress. If Texas can continue to put it all together against the heart of its SEC schedule, it could make a run to be one of the committee’s top two-loss teams.
If the playoff were today
Would be in: Alabama, Georgia, LSU, Oklahoma, Ole Miss, Texas A&M
On the cusp: Tennessee
Work to do: Missouri, Texas, Vanderbilt
Would be out: Arkansas, Auburn, Florida, Kentucky, Mississippi State, South Carolina
Big Ten
Spotlight: USC. The Trojans have looked like a CFP top 25 team through the first half of the season, with their only loss a close one on the road to a ranked Illinois team. In Week 7, USC’s convincing 31-13 win against Michigan pushed it into more serious Big Ten contention. Ohio State and Indiana are the leaders, followed by Oregon, but USC has the fourth-best chance (7.1%) to reach the Big Ten title game, according to ESPN Analytics. That will change when the Trojans go to Oregon on Nov. 22, but they don’t play Ohio State or Indiana during the regular season. A win at Notre Dame on Saturday would be a significant boost to USC’s playoff résumé, while simultaneously knocking the Irish out of playoff contention. According to the Allstate Playoff Predictor, USC’s chances of reaching the playoff would adjust to 58% with a win against Notre Dame. According to ESPN Analytics, USC has less than a 50% chance to win its games against Notre Dame and Oregon.
Enigma: Washington. The Huskies have improved significantly and quickly under coach Jedd Fisch, who’s in his second season. Their only loss was to Ohio State, 24-6, on Sept. 27, but they lack a statement win that gives them real postseason credibility. Wins at Washington State and Maryland are certainly respectable, but bigger opportunities loom starting on Saturday at Michigan. This game has significant implications, because if the Huskies can win, they stand a strong chance of hosting Oregon as a one-loss team in the regular-season finale. According to ESPN Analytics, Michigan has a 67.6% chance to win on Saturday, and Oregon has a 70% chance to beat Washington on Nov. 29. The Huskies are projected to win every other game, though. A win against Michigan could increase their playoff hopes significantly.
If the playoff were today
Would be in: Indiana, Ohio State, Oregon
On the cusp: USC
Work to do: Nebraska, Washington
Would be out: Iowa, Illinois, Maryland, Michigan, Michigan State, Minnesota, Northwestern, Penn State, Purdue, Rutgers, UCLA, Wisconsin
ACC
Spotlight: Georgia Tech. Raise your hand if you had Georgia Tech at Duke on Saturday circled as a game that would impact the College Football Playoff. The Yellow Jackets would have been the next team to crack the latest CFP projection this week, and their chances of reaching the ACC championship game will skyrocket if they can win at Duke. Georgia Tech currently has the fourth-best chance to reach the ACC title game behind Miami, Duke and Virginia. ESPN Analytics gives the Blue Devils a 61.8% chance to win. The only other projected loss on the Jackets’ schedule is the regular-season finale against Georgia. Even if Georgia Tech reaches the ACC title game and loses, it could get in as a second ACC team with a win over Georgia.
Enigma: Virginia. The Hoos have won back-to-back overtime games against Florida State and Louisville, putting themselves in contention for a spot in the ACC championship. They host a tricky Washington State team on Saturday that just gave Ole Miss a few headaches, though, and need to avoid a second loss to an unranked team. The toughest game left on their schedule is Nov. 15 at Duke. Without an ACC title, Virginia is going to have a tough time impressing the committee with a schedule that includes a loss to unranked NC State and possibly no wins against ranked opponents. It didn’t help the Hoos that Florida State lost to an unranked Pitt, as the win against the Noles was the highlight of their season so far.
If the playoff were today
Would be in: Miami
On the cusp: Georgia Tech
Work to do: Virginia
Would be out: Boston College, Cal, Clemson, Duke, Florida State, Louisville, North Carolina, NC State, Pitt, SMU, Stanford, Syracuse, Virginia Tech, Wake Forest
Big 12
Spotlight: BYU. The Cougars needed a late-night double-overtime win at Arizona to stay undefeated and are on the path to face Texas Tech in the Big 12 championship game. The question is if they can stay undefeated until the Nov. 8 regular-season matchup against the Red Raiders. BYU has its second-most difficult remaining game on Saturday against rival Utah, which is also in contention for the Big 12 title. BYU has a slim edge with a 51% chance to win, which would be a critical cushion considering back-to-back road trips to Iowa State and Texas Tech await. The Big 12 has also gotten a boost from Cincinnati, which has a favorable remaining schedule and could be a surprise CFP top 25 team. If BYU stumbles over the next three weeks, a road win at a ranked Cincinnati team would help its résumé. Speaking of the Bearcats …
Enigma: Cincinnati. Is this team for real? The Bearcats have won five straight since their 20-17 season-opening loss to Nebraska, including three straight against Big 12 opponents Kansas, Iowa State and UCF. All three of those teams are .500 or better, and the selection committee will respect that as long as it holds. Cincinnati also has November opportunities against Utah and BYU, which could change the playoff picture in the Big 12. ESPN Analytics gives the Bearcats less than a 50% chance to beat Utah, BYU and TCU.
If the playoff were today
Would be in: Texas Tech
On the cusp: BYU
Work to do: Cincinnati, Houston, Utah
Would be out: Arizona, Arizona State, Baylor, Colorado, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, UCF, West Virginia
Independent
Would be out:Notre Dame. The Fighting Irish have the best chance to win out of any team in the FBS, with a 49% chance to finish 10-2. According to the Allstate Playoff Predictor, Notre Dame would have a 50% chance to reach the CFP if it runs the table. That seems accurate, given the selection committee would compare Notre Dame against the other 10-2 contenders, and it’s a coin toss as to whether the room would agree that the Irish’s résumé and film make them worthy of an at-large bid. How Miami and Texas A&M fare will impact this — as will the head-to-head results if those teams don’t win their respective leagues and are also competing with the Irish for one of those at-large spots. It helps Notre Dame that opponents USC and Navy could finish as CFP top 25 teams if they continue to win. Undefeated Navy could also make a run at the Group of 5 playoff spot.
Group of 5
Spotlight: South Florida. South Florida. The Bulls are back on top after their convincing 63-36 win at previously undefeated North Texas, which just a week ago was listed here as a potential Group of 5 contender. Following the win, the Bulls’ chances of reaching the CFP increased by 20%, according to ESPN Analytics. South Florida’s lone loss was Sept. 13 at Miami, 49-12, which was a significant defeat against what could be the committee’s No. 1 team. Although that result showed the gap between the Bulls and one of the nation’s top teams, it certainly didn’t eliminate South Florida, which has one of the best overall résumés of the other contenders. With wins against Boise State, Florida and now at North Texas, this is a team that earned the edge in this week’s latest projection. Still, South Florida has the second-best chance of any Group of 5 school to reach the playoff (30%) behind Memphis (42%), according to ESPN Analytics.
Enigma: UNLV. Undefeated UNLV survived a scare from 1-5 Air Force on Saturday to stay undefeated and in contention for a playoff spot. UNLV and Boise State, both of the Mountain West Conference, are the only teams outside of the American Conference with at least a 5% chance to reach the playoff, and they play each other in a critical game on Saturday. UNLV has scored at least 30 points in each of its six games this season and is 6-0 for the first time since 1974, but it hasn’t always been pretty. UNLV scored the winning touchdown against Air Force with 36 seconds left and allowed the Falcons 603 total yards. The Rebels have the fourth-best chance to reach the playoff at 9% behind the American’s Memphis, South Florida and Tulane.
Britain must prepare for at least 2C of warming within just 25 years, the government has been advised by its top climate advisers.
That limit is hotter and sooner than most of the previous official advice, and is worse than the 1.5C level most of the world has been trying to stick to.
What is the 1.5C temperature threshold?
Under the 2015 Paris Agreement, countries agreed to try to limit warming to “well below” 2C – and ideally 1.5C.
This new warning from the government’s top advisers, the independent Climate Change Committee (CCC), spells out the risk to the UK in the starkest terms yet.
In a letter today, the CCC said ministers should “at a minimum, prepare the country for the weather extremes that will be experienced if global warming levels reach 2C above pre-industrial levels by 2050”.
It is the first time the committee has recommended such a target, in the hopes of kickstarting efforts to make everything from flooded train tracks to sweltering classrooms more resilient in a hotter world – after years of warnings the country is woefully unprepared.
Image: Periods of drought in England are expected to double at 2C of global warming, compared to the recent average period of 1981 to 2010. Pic: PA
How climate change affects the UK
The UK is already struggling to cope with the drought, flooding, and heat brought by the current 1.4C – “let alone” what is to come, the advisers said.
Just this year, the country battled the second-worst harvest on record and hottest summer ever, which saw an extra 300 Londoners die.
“Though the change from 1.5C and 2C may sound small, the difference in impacts would be substantial,” CCC adviser Professor Richard Betts told Sky News.
It would mean twice as many people at risk of flooding in some areas, and in southern England, 10 times as many days with a very high risk of wildfires – an emerging risk for Britain.
The experts said the mass building the government is currently pushing, including new nuclear power stations and homes, should even be adaptable for 4C of warming in the future – a level unlikely, but which cannot be ruled out.
Image: At 2C, peak average rainfall in the UK is expected to increase by up to 10–15% for the wettest days. Pic: Reuters
Is it too late to stop climate change or limit to 1.5C?
The CCC’s Baroness Brown said in a briefing: “We continue to believe 1.5C is achievable as a long-term goal.
“But clearly the risk it will not be achieved is getting higher, and for risk management we do believe we have to plan for 2C.”
World leaders will discuss their plans to adapt to hotter temperatures at the COP30 climate summit in Brazil in November.
Professor Eric Wolff, who advises the Royal Society, said leaders needed to wake up.
“It is now very challenging even to stay below two degrees,” he told Sky News.
“This is a wake-up call both to continue reducing emissions, but at the same time to prepare our infrastructure and economy for the inevitable climate changes that we are already committed to.”