Most prospective homebuyers know that "cozy" is real estate code for tiny.
In San Francisco real estate, cozy is about all that most residents can afford. A person who wants to buy property in the city needs a household income of $303,000 in order to afford the 20% down payment on a $1.5 million home — the median sale price in San Francisco last quarter.
It should come as little surprise that cottages known as "earthquake shacks" are one of the most desirable real-estate assets in the city. After the 1906 earthquake and firesdecimated some 500 city blocks and left half the population homeless, the city responded by building more than 5,000 small wooden cottages as temporary housing. They came to shelter over 16,000 people.
The surviving shacks are scattered across the city and fetch prices above $1 million.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
7 comments:
Pelosi represents her rich friends not the average citizen in San Francisco.
Good let em Rot.
No wonder they are all moving to the East Coast California, batter known as MARYLAND.
When will San Francisco finally self-destruct?
Humpty Dumpty sat on the wall.....
Just showed this to my girlfriend who was out there last month and she says those prices were way too low. She thinks they are selling for 2 million plus today!
What do the poor and middle class do when housing and food are considered luxury items???
Kill people.
Take everything they have.
And which of you dummies think we are immune to human nature and basic survival?
Buy guns, people.
We aren't immune.
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