6 ms·
> I was able to get a large, modern, luxury 1BR in a decent location for under $3K This sounds like a joke about just how absurd SF rents are.
by fiblye 6y ago
> I was able to get a large, modern, luxury 1BR in a decent location for under $3K
This sounds like a joke about just how absurd SF rents are.
- verst 6y agoAssuming the 1BR is 700+ sqft and the location is something like SOMA or Hayes Valley this would be a good deal. Yes SF rents are generally insane.
- baron816 6y ago820sf and right between those two neighborhoods.
- vmception 6y agoAnd for reference, a Hayes Valley 1bd would still be right above $3k. Or right below with concessions. Luxury studios are going to $2400 already though. Expecting further drops. Yes, there are many people in Central Valley who can now afford to live out their dream of being in "the city". A change of scenery is a change of scenery. I've met suddenly unencumbered East Coasters that roadtripped across during Phase 1 Shelter in Place, and they are content with the new environment. I don't see these as demand drivers, as the replacements are not the economic powerhouses that were here: subsidized college kids and tech workers. So its nice if the city gets a diverse culture again, but in the topic of rent and housing prices, I wouldn't expect a rebound so optimistically.
- jquery 6y agoLuxury studios were about that much 10 years ago. I don’t expect drops to be much further. The exodus is already decelerating according to Zestimates I’ve been following closely. I expect prices to drop further for a little bit longer then start to creep back up. Anyone who wants to live in the best weather in the continental USA should lock in their price now.
- vmception 6y agoI also think $2400 is a floor here, but I also think the spread between unit types will get much closer. Instead of a 1bd being $2900, maybe it will be $2490. I've seen this curve compress in a lot of different combinations over the last 3 months. But the other factor, which I think everyone is still neglecting, is that the exodus was only voluntarily exits. Evictions and foreclosures aren't happening and there is a massive backlog when they do. So with only the current date, November - January is when the fireworks start.
- saberience 6y agoBest weather in continental USA? You mean in Orange County? I lived in Irvine for 6 years and it was essentially an average of 72 all year and mostly sunny days and barely any rain at all. Versus SF which gets way more cloudy and rainy days and isn't as warm. I've left now but I miss the SoCal weather badly.
- jquery 6y agoIt’s subjective of course. I find Orange County far too hot for my own tastes. What is not subjective is from summer to winter, SF has the least variance in average temperature due to its unique geography.
- Dangeranger 6y agoSo that would be, cold and foggy to cold and foggy? San Francisco weather is not usually touted as "good" by most common measures. I'll grant you that it is consistent, but most people appreciate seeing the sun now and then.
- vmception 6y agothe mission is not cold and foggy. took me a while (1.5 aggravating years) to figure out which microclimates were conducive to me.
- akavi 6y ago> right between those two neighborhoods So, in the tenderloin? Suddenly not a great deal.
- VectorLock 6y agoA large luxurious modern SRO.
- baron816 6y agoNot quite the Tenderloin. It’s technically Civic Center. Yes, there’s plenty of homeless around, but that’s just SF, right?
- askafriend 6y ago> but that’s just SF, right? No absolutely not. It's literally only a problem in Civic Center/Downtown/SOMA. Closer to Golden Gate Park / Pac Heights is gorgeous.
- MaxfordAndSons 6y agoThat's not really true. I've lived in the Inner Sunset for 2 years, and I've actually noticed an increase in the local homeless population over that time. Obviously not concentrated/encamped in the way they are in the neighborhoods you mention, but still, they're much more present than in equivalent quiet residential neighborhoods I've lived in in NYC or Chicago.
- mav3rick 6y agoPac Heights is still great. So are most of the areas surrounding GG.
- michaelvmata 6y agoIt varies. There were multiple encampments in the Richmond. 24th and Anza, 20th and Geary, and 16th and Geary for example. The city cleaned them up recently and posted signs about no lodging, but they were there for months before.
- boringg 6y agoThat's a good deal.
- josephg 6y agoOnly because of how insane housing in SF is. For comparison I own a 2br apartment in Melbourne, Australia. It takes about 15 minutes to walk from here to the heart of the city. My mortgage repayments (including interest) are about $700usd/month.
- bezmenov 6y agoBetter coffee and no human excrement on the sidewalks too.
- jquery 6y agoI live in SF and no excrement on the sidewalk where I live. Problem with SF is some neighborhoods are being neglected. There’s no penalty for lawless vagrancy, not even a “shoo shoo”. I’ve seen portapotties set up next to tent camps. I guess that’s better than street shitting but it’s a major disappointment to see tent cities encouraged.
- x87678r 6y ago> My mortgage repayments (including interest) are about $700usd/month. Melbourne is not cheap, there must be more to this story. The average house price in Melbourne is $855,428. A $600k unit, 20% deposit, 25y mortgage, cheap 2% rate is $1.4k or USD 1k. + strata fees
- Mandatum 6y agoYeah, this person lives in a shoebox in the outer suburbs. We pay double that for a 1920s apartment (so very spacious, but cheap) in a suburb walking distance from the CBD, right next to a tram line.
- 6y ago
- formerly_proven 6y agoGuy spends about 150 % of my net income just on rent.
- bluedino 6y agoThat’s a deal, it’s not much higher than it was ten years ago (oddly enough, when it was already insanely high)
- kelnos 6y agoReally? I was living in a nice not-rent-controlled ~800sqft 1BR in a decent part of the western addition in 2010, for $1700/mo. $3k might have been common at the high end, but I don't think that was typical.
- Bud 6y agoOnly if you don't know how many more jobs there are in SF that pay well enough to afford that than there are in other places.
- chiefalchemist 6y agoIf salaries don't need to reflect local cost of living, it seems that salaries will be subject to change. Fairly soon?
- readhn 6y agothat's an excellent point!!
- Bud 6y agoYou're assuming that salaries are not also impacted by the immense amount of wealth being generated by the Silicon Valley economy, though. And you're also assuming that housing prices will radically change, which I don't think is guaranteed even in the medium-term.
- chiefalchemist 6y agoThat's not what this article and others are saying. That is, people are leaving and housing is falling. Also, much of the appeal comes from bars, restaurants, boutiques, and such. Those too are falling off the map. I'm not assuming anything.
- davchana 6y agoI actually re-read the comment to see if he said 3BR. Was disappointed to find that it was 3k for 1BR, absolutely not imaginable in my salary.
- ummonk 6y agoSix figure salaries are the norm for software engineers in SF. Hard not to be able to afford a 3k rent as a software engineer.
- torgian 6y agoDamn. That’s a lot of money.