Meanwhile, better units with more space or an extra bath sit for weeks unsold.Am I missing something? I know this area is preferable, however $1.5 M for a 1-bath condominium without any garage seems like 2021 energy. I need to vent!Genuinely asking ... are individuals still panic-buying? Is this just wealth inertia? Tech optimism? Delusion?And yeah, I'm thinking about starting a "Wall of Shame" recording these kinds of sales. Exhibit 1: this one.

deanmoriarty 6 hours ago|next -
bestlocation.com
I reside in SF, discover it a stunning city however I'm not especially attached to it, so I rent.The area where that residential or commercial property is situated is truly excellent, 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 amazing. It's also an excellent deal compared to its previous 2019 list price ($ 1.4 M), so it's likely it was deliberately priced below market, the owner never implied to sell it at the asking price.The city just has so, numerous rich people, it's tough to understand. I, a complete nobody, know a great deal 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 effective in my peer group. It's not unreasonable to drop that much in a stunning city with such a limited stock. I do not think that residential or commercial property value will significantly drop any time soon, if ever.You are entitled to your own viewpoints and venting, but it might be more efficient to simply vote with your feet and leave, if this is too frustrating to deal with. reply

tossandthrow 2 hours ago|parent|next -

The housing market in SF is absolutely an indication of concentrated wealth.That stated - fairly couple of participants are required to price the market. This holds true for housing, stocks (where ETF-holder do not perform pricing), etc.You are likewise likely not a nobody, not even in SF terms, with $6M liquid (assuming that there are quite a bit of financial investments on top of that). This would either require some effective speculative financial investments, high-level position in an effective company, inheritance, or successful exits. just inheritance with a long prudent lineage would yield a wealthy nobody. reply

megamike 12 hours ago|prev|next -

I remember as a traveler checking out some 25 years earlier and was stunned by just how much a breakfast was at IHOP this was in the Golden Park location and than was more shocked 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 checking out even more it was a garage made into some sort of apartment Has SF always been wacky overpriced? reply

PopAlongKid 11 hours ago|parent|next -

> Has SF constantly been goofy overpriced?It's not just SF, it's California. Even going back 40 years, practically any location 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 costly than nationwide average. 0 unless it has an ocean view reply

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

It has constantly been a bit wackadoodle, however I keep in mind 22-23 years earlier, costs were high, however within earth's atmosphere. reply

leakycap 8 hours ago|prev|next -

Ask yourself if your quality of life is enhanced by the increased cost of living because area.I'm not about to move to Texas, however it is remarkable how quickly you can conserve a huge quantity of cash just by opening to other locations that would make you happy.Housing costs don't go down unless awful thing occur