Dr. Housing Bubble 08/09/14

[Crewleader]

Tech real estate driven mania: San Francisco median rent is $3,200 and typical home now costs $1,000,000: The hollowing out of the middle.

The rent is too damn high in the Bay Area. I’m sure many families in the Bay Area utter this on a monthly basis as they send their rental checks to their landlords. The median rent in the Bay Area hit $3,200 in the first quarter of this year. The booming tech industry has been a big win for Northern California real estate although for many, it may not feel that way. Investors have been a dominant force as well in Northern California. Investors have been dominating the US housing market for nearly half a decade and are now only starting to show some signs of pulling back. San Francisco is an interesting case study of an area undergoing rapid ultra-wealthy gentrification. The median home price in San Francisco hit $1,000,000. On a monthly basis I will get e-mails from tech workers talking about their two income households being unable to buy in the Bay Area. Interestingly enough San Francisco makes Southern California look like a bargain. What you are also seeing is a deep hollowing out of the middle class in the US but it is incredibly visible in places like San Francisco.

Rents in San Francisco

http://www.doctorhousingbubble.com/san-francisco-rents-sf-home-price-tech-real-estate/

[BlueJazz]

1. Over 100 dollars a day?