Meanwhile, much better systems with more space or an extra bath sit for weeks unsold.Am I missing something? I understand this area is desirable, but $1.5 M for a 1-bath condo without any garage seems like 2021 energy. I require to vent!Genuinely asking ... are individuals still panic-buying? Is this simply wealth inertia? Tech optimism? Delusion?And yeah, I'm thinking about beginning a "Wall of Shame" documenting these kinds of sales. Exhibit 1: this one.
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deanmoriarty 6 hours ago|next -

I reside in SF, discover it a gorgeous city but I'm not particularly attached to it, so I rent.The area where that residential or commercial property lies is really great, I live nearby. I think the residential or commercial property deserves that quantity, considering that someone spent for it in a competitive market, that terrace with views of Sutro tower is magnificent. It's also an excellent offer compared to its previous 2019 price ($ 1.4 M), so it's likely it was intentionally priced below market, the owner never ever meant to offer it at the asking price.The city just has so, numerous rich people, it's tough to comprehend. I, a total nobody, understand a lot of individuals in their 20s with $10M+ net worth. I remain in my 30s with a $6M liquid net worth and I'm the least effective in my peer group. It's not unreasonable to drop that much in a stunning city with such a limited inventory. I don't believe that residential or commercial property worth will significantly drop at any time soon, if ever.You are entitled to your own viewpoints and venting, however it may be more productive to simply vote with your feet and leave, if this is too discouraging to handle. reply

tossandthrow 2 hours ago|parent|next -

The housing market in SF is absolutely a sign of concentrated wealth.That stated - fairly couple of individuals are needed to price the marketplace. This is the case for housing, stocks (where ETF-holder do not carry out pricing), etc.You are also likely not a nobody, not even in SF terms, with $6M liquid (assuming that there are rather a bit of investments on top of that). This would either require some successful speculative investments, top-level position in a successful business, inheritance, or effective exits. just inheritance with a long prudent family tree would yield a wealthy nobody. reply

megamike 12 hours ago|prev|next -

I recall as a tourist checking out some 25 years ago and was shocked by just how much a was at IHOP this remained in the Golden Park area and than was more shocked when down the street at a real estate agents workplace with the for sale listings on the window and there was a listing for a 'system' for 350,000 and reading further it was a garage made into some sort of apartment Has SF always been wacky overpriced? reply

PopAlongKid 11 hours ago|moms and dad|next -

> Has SF constantly been goofy overpriced?It's not simply SF, it's California. Even returning 40 years, nearly any place in between Bay Area and San Diego that's within 50 miles of the ocean and is not rural 0 has actually been significantly more pricey than nationwide average. 0 unless it has an ocean view reply

Compzilla 11 hours ago|parent|prev|next -

It has actually constantly been a bit wackadoodle, however I remember 22-23 years back, rates were high, but within earth's atmosphere. reply

leakycap 8 hours ago|prev|next -

Ask yourself if your lifestyle is improved by the increased cost of living in that area.I'm not about to transfer to Texas, but it is amazing how quickly you can save a huge amount of money simply by opening to other places that would make you happy.Housing prices do not go down unless terrible thing happen