Getting out of San Francisco: 83 percent of Bay Area renters plan to leave the area before settling down.
BySan Francisco real estate continues to operate in a land of full on self-indulged delusion and pseudo-tech worship. I travel to the Bay Area and San Francisco often and the amount of self-delusion when it comes to real estate is amazing. You will find all of these convoluted justifications as to why a crap shack should sell for $1.5 million and when some other chump takes the jump, they use this as some sort of reinforcement of their real estate buying acumen. You are the amazing market timer and they are the fool (at least that is the thought process). I’ve seen this with couples in the area where two professionals have sound financial judgment but then a kid is thrown into the mix and all hell breaks loose. “Well I don’t want my kid living in a rental!” or “I want them to have a piece of real estate when I turn over and pass on” as if your kid wants to chase the same Full House rat race. People are mistaking luck with skill but that is part of human nature. And a recent survey found that 83 percent of Bay Area renters are planning on getting out of the area to settle down…
