Thinking of Moving to San Franciso? Astronomical House Prices Driving up Rents

  • Posted by a hidden member.
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    May 22, 2014 10:16 AM GMT
    Lots of very highly paid techies are moving to SF, commuting to Silicon Valley jobs, and scooping up the available real estate at inflated prices. Last week, in a neighborhood of modest houses on small lots, a dilapidated small house was sold for $1.7 million. It will be demolished for a slight expense, and a new house rebuilt on the $1.7 million lot for another 1.5 million or so. Imagine what it would rent for.
  • roadbikeRob

    Posts: 18423

    May 22, 2014 12:36 PM GMT
    San Francisco is a city to completely avoid because of its astronomical prices. Why anyone in their right mind would want to move there when they damn well know that living expenses are going to eat up almost of their hard earned money. San Jose is another ultra expensive city that is best avoided as well. But most gay guys still want to live on the damn coasts and will not even try to look for jobs in other parts of the US. Yet they will complain about high living costs. Go figure.
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    May 22, 2014 2:12 PM GMT
    Absolutely insane but hardly surprising.

    A friend of mine who moved to Columbus from San Francisco told me that he was paying over $2,000/month for a 200 sq. ft. studio. I almost choked on my drink when I heard that.

    I don't know if San Francisco was ever really "affordable" given the very little open space but all of this "new money" moving in is making things worse for long-time residents.
  • GoodManSD

    Posts: 10

    May 25, 2014 1:56 AM GMT
    I recently moved to san jose from San Diego. Yes I had a bit of sticker shock, even though San Diego is not cheap. I finally settled on a 2000 sqft new construction townhouse. It cost about $130K more than my 1700 sq ft detached house in San Diego, which had a lawn in an upscale area. I wouldn't want to live any closer to SF, as those prices were just plain silly. I'm a techie and have a solid income, but I still feel a bit sick when thinking about how much I paid.