This $10,500 rental in the SF Mission District is absurd

[Newsjock]

http://40goingon28.blogspot.com/2014/02/this-10500-rental-in-mission-is-absurd.html

Via Matt Graves (RT courtesy BurritoJustice) comes this truly unbelievable rental listing. Since it's on Craigslist, and listings on Craigslist, like dandelion spores or red supergiants, are impermanent and ephemeral, I've screencapped part of it below:




... FIRST, if you have $10,500 a month to spend on housing, why the fuck would you give it to someone else? $10,000 is roughly the mortgage payment on a $2,000,000 mortgage. Buy a $1,000,000 place and cut your monthly housing nut in half! Use the rest to buy $4 toast! Fuck, buy $8 or $10 toast and you're STILL coming out ahead!

SECOND, that ad. Oh my God that ad. "With the hottest microclimate in San Francisco, Mission is caliente." Are you fucking kidding me. Are you intentionally making fun of the Mission's Latino heritage, or was that just a happy accident? For the love of God, fellow white people, do not call things "caliente." This is one step removed from putting on a giant sombrero and poncho and going to a Cinco de Mayo party.

[sharp_stick]

1. Saying something is caliente

is simply hipster speak for "I am a massive douchebag and don't give a shit that you know it"

You just know this asshole is wearing a fedora, black rimmed glasses, too long rolled up $250 jeans, and rides a fixed speed bike to work everyday. He's probably doing his best to grow an ironic beard as we speak.

[Blue_In_AK]

3. Yes, the hipsters are thick in SF.

I couldn't help but notice when we were down there last month.


This rent is insane.

[KamaAina]

5. And stops at Tacolicious on the way home

yup, the Mission now boasts (?) a gringo-owned taqueria!

[Blue_Tires]

2. Is that thing in the middle supposed a couch or a bed?

I don't keep up with the latest trends of the super-wealthy like I used to....

[lumberjack_jeff]

4. That's only a 5.5% capitalization rate.

An investor is better spending that two million buying 36, $500/month rentals in my area.

If you buy it yourself, you'll be giving $9500 of that $10,000 to someone else anyway.

SF looks like a shitty investment for landlords.

[CreekDog]

6. The blogger completely misunderstood "the hottest microclimate" term --it's not racial

most people in San Francisco who have lived here for years, consider and are familiar with the idea that the Mission District has the warmest and sunniest weather in the city.

which is a big deal because San Francisco is often unpleasantly cold in the summer.

[Xithras]

7. San Francisco is in a bit of a real estate bubble at the moment.

And just like the last bubble, everyone there is in total denial that it's a bubble. The entire thing is being sustained by a one-note economy that has been correction bound for several years now. When it collapses (and considering the grim portents out of both Twitter and Facebook recently, there will be some type of serious contraction soon), the people stuck in these $10k a month 2 year leases are going to feel like idiots when the new neighbor moves in at a quarter of that price.

I wouldn't get too worked up about the caliente thing though. Mixing English and Spanish in casual conversation has been a regular thing in California for as long as I can remember. It happens so often that nosotros no pensamos esta. The suggestion that "white people" shouldn't use Spanish words, a practice that most of us "normal" Californians grew up with (as opposed to the lily white wannabes who grew up in middle class suburbia), is unnecessarily divisive.