San Francisco Real Estate Is as Bad as New York

San Francisco Real Estate Is as Bad as New York

Guess who's paying $1,400 a square foot for generic luxury apartments? The same young tech-industry jerks ruining everything else about San Francisco.

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Original post by Sam Biddle on Valleywag

New Condos in SF Startup Turf Selling for $1,400 Per Square Foot

New Condos in SF Startup Turf Selling for $1,400 Per Square Foot

If you're looking for housing in San Francisco and aren't literally Ev Williams, you might want to consider just killing yourself or trying to find a place in prison: Curbed reports "more than 100 people" just tried to buy condos in the Mission that are setting records for insane overpricing.

The units themselves don't seem to be anything special—generic luxury apartment fare. But the building's location at 3500 19th Street, smack in the middle of a choice stretch of San Francisco's economic renaissance and demographic ruination, might explain the hysterical prices. Of course, everyone is paying cash, says the San Francisco Business Times:

The one thing the buyers have in common so far: rising interest rates is not much of a concern. “It’s people with money — everybody so far is paying cash,” said [property marketer Frank] Nolan.

“Their kids live in the neighborhood and they want to live there too,” he said. “The market is craving this.”

Hi Frank. Fuck you.

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