Take a look at the cheapest house in San Francisco right now (the price just dropped!).
"A 570-square-foot Glen Park cottage with one-bedroom, one-bathroom and no backyard or garage to speak of is listed for $599,000.
The property at 17 Laidley St. was originally listed in March for $675,000 and sat for 146 days without a buyer."
When the cheapest house in San Fransisco takes a 75 grand price cut and stays on the market that long..........things are not looking good. This will absolutely feed into consumer spending. Mark my words.
Subscribe to:
Post Comments (Atom)
Most of my elderly neighbors are all original owners who paid under 100 grand for their houses. It's the only thing that kept me hanging on during the recession. I'm sure when my house turned over they were aghast at how much I paid. And by the time I become elderly I'm sure I will feel the same way. I paid 200k for my first place. Now I feel like that was a dream. It was a total crap shack though. My grandfather paid 30 grand for a house in Santa Clara!
ReplyDeleteLand in the cities is no longer plentiful and prices are reflecting that. They aren't making any new land in San Fransisco. If people want to pay that to live next to bums - let them. I'm not saying the price is cheap, it's only the cheapest listing.
"They aren't making any new land in San Fransisco." They ought to hire the Chinese...
ReplyDeleteThat's a truly funny comment. The only negative is that our land shakes. Most of the damage in Loma Prietta was down in the man made land area.... but I'm sure yo know that. This is for non Californians.
ReplyDelete