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As pointed out in the article the lions share of losses are in Pac Heights and Nob Hill due to the outsized prices already there. I rent a home there that fluc
by tsunamifury 3y ago
As pointed out in the article the lions share of losses are in Pac Heights and Nob Hill due to the outsized prices already there.
I rent a home there that fluctuates between 7 million and 5 million over the course of the pandemic and I watched a neighbor poor over 100! Million into a house when he thought things were only going up.
That being said most people here don’t ever sell really. You just hold and buy another home someplace else. It’s a funny place.
So the loses are not real until they are realized. That being said I don’t think the city is headed in a positive direction anytime in the next 5 years.
- throw03172019 3y agoWhat kind of home did he get for 100 million?
- tsunamifury 3y agoHe purchased it for 25 million and poured another 100 million into it. But it is the most impressive home in San Francisco. Right across from the Lyon steps. You can’t miss it. The only one that you have to crane your neck to see all 5+ stories of it.
- snake_doc 3y agoThe Redfin YoY price change he quotes is a median price change. He then extrapolates a median price change on the entire market to calculate the “$260B” change in asset valuations. That is dubious at best for a monthly volume of ~500 sales…