Meanwhile, better units with more area or an additional bath sit for weeks unsold.Am I missing out on something? I understand this location is preferable, but $1.5 M for a 1-bath apartment with no garage feels like 2021 energy. I need to vent!Genuinely asking … are people still panic-buying? Is this simply wealth inertia? Tech optimism? Delusion?And yeah, I’m considering starting a “Wall of Shame” documenting these kinds of sales. Exhibit 1: this one.

deanmoriarty 6 hours ago|next -

I live in SF, find it a lovely city but I’m not especially connected to it, so I rent.The location where that residential or commercial property is located is actually good, I live close by. I believe the residential or commercial property is worth that amount, since someone paid for it in a competitive market, that terrace with views of Sutro tower is incredible. It’s also a good deal compared to its previous 2019 list price ($ 1.4 M), so it’s likely it was purposefully priced listed below market, the owner never indicated to offer it at the asking price.The city just has so, numerous wealthy individuals, it’s tough to understand. I, a complete nobody, know a lot of individuals in their 20s with $10M+ net worth. I’m in my 30s with a $6M liquid net worth and I’m the least successful in my peer group. It’s not unreasonable to drop that much in a stunning city with such a scarce stock. I do not believe that residential or commercial property worth will considerably drop at any time quickly, if ever.You are entitled to your own opinions and venting, but it might be more efficient to simply vote with your feet and leave, if this is too frustrating to handle. reply

tossandthrow 2 hours ago|parent|next -

The housing market in SF is absolutely a sign of concentrated wealth.That stated - reasonably couple of individuals are needed to price the market. This holds true for housing, stocks (where ETF-holder do not perform rates), etc.You are likewise most likely not a no one, not even in SF terms, with $6M liquid (presuming that there are a fair bit of financial investments on top of that). This would either need some successful speculative investments, high-level position in a successful company, inheritance, or effective exits. just inheritance with a long frugal family tree would yield a rich no one. reply

megamike 12 hours ago|prev|next -

I remember as a tourist going to some 25 yrs ago and was shocked by just how much a breakfast was at IHOP this was in the Golden Park location and than was more stunned when down the street at a real estate agents office with the for sale listings on the window and there was a listing for a ‘unit’ for 350,000 and reading further it was a garage made into some sort of condo Has SF constantly been crazy overpriced? reply

PopAlongKid 11 hours ago|moms and dad|next -

> Has SF always been goofy overpriced?It’s not simply SF, it’s California. Even going back 40 years, almost any place between Bay Area and San Diego that’s within 50 miles of the ocean and is not rural 0 has been substantially more expensive than national average. 0 unless it has an ocean view reply

Compzilla 11 hours ago|moms and dad|prev|next -

It has always been a bit wackadoodle, but I keep in mind 22-23 years back, costs were high, however within earth’s environment. reply

leakycap 8 hours ago|prev|next -

Ask yourself if your quality of life is enhanced by the increased cost of living in that area.I’m not about to transfer to Texas, however it is amazing how easily you can save a substantial quantity of cash simply by opening to other places that would make you happy.Housing rates don’t decrease unless thing take place