The Insanity of San Francisco Real Estate

Curbed – San Francisco: ” Eventually, someone saw the potential for change in the modest two-bedroom home and bought it for $850,000. Flippers have completely transformed the house into a four-bedroom luxury abode listed for $5.25 million, asking more than six times the previous price and ushering it right into the Sextuple Club, a thing we just invented.”

Now that’s a flip.

Compare that to what $140k gets you in Detroit. With some time and a bit of money this Detroit home could look just as nice, if not nicer, than the San Francisco home.


Short sighted in San Francisco?

TechCrunch: The city isn’t thanking Twitter for bringing all these high paying jobs to San Francisco, either. Rather, some supervisors don’t want the tax break at all, and seem quite willing to see Twitter bail to tax-free Brisbane. Says Supervisor John Avalos: “Who are the [Twitter] investors? Probably some of the wealthiest people in this country. And we are giving them more wealth.”