San Francisco and tech driven housing mania: The median home in San Francisco reaches a new high of $1.5 million.
BySan Francisco real estate is deep into a tech driven mania. Home prices in the Bay Area are comically out of reach for most families and people are getting squeezed out like ketchup in a disposable packet. What seemed like a new peak was once again surpassed. The housing market is running on massive fumes and delusions run rampant. The justifications for current prices run abound. Yet the truth of it all is that we are deep into a manic phase of the market. The current median price for a home in San Francisco is now $1.5 million. This is for your standard crap shackflavored box. People are still buying even though volume has trended lower but just look at the current price range. A lot of this is being fueled by wildly high tech valuations and people believing that prices will never adjust. In other words, a bubble…
