Prices in SF fell by more than 40%: https://us.spindices.com/indices/real-estate/sp-case-shiller-ca-san-francisco-home-price-index https://us.spindices.com/indi

Prices in SF fell by more than 40%: https://us.spindices.com/indices/real-estate/sp-case-shiller-ca-san-francisco-home-price-index https://us.spindices.com/indices/real-estate/sp-case-shiller... In established neighborhoods, it was probably more like 20%, but there were still foreclosures and a lot of deals to be had. Even 4-5 years ago, there were condo foreclosures near the Caltrain station at 4th and king going for around 300-400k. Granted, SOMA has improved as a neighborhood more than pretty much anywhere else in the city, but it is a myth that property values don't fall in SF. They do and have every 7-10 years (91, 01, 08...), though the long-term trajectory is obviously up.