San Francisco housing still in manic phase: Dump that is “uninhabitable” with fire damage has pending offer at $1.4 million.
ByWell being back in the Bay Area I realize once again how delusional people have become when it comes to chasing unicorn startups and all things real estate. I ran into multiple people and it seems like everyone is talking about real estate. Some of these people were showing me “deals” on apps like Zillow or Redfin on their phones. “This place with some work can then be flipped in a month for a $200,000 profit.” Why work when you can speculate on housing? The housing market is now in cult status and this psychological territory isn’t new. We don’t have to dig deep into historical texts and read about Florida real estate in the 1920s but need only look at the 2000s. San Francisco is out of control. And of course you have insulated mindsets from many that work in tech or the financial sector since they feel that money or an app can solve all of life’s challenges. Today we take a look at a home worthy of the crap shack title in San Francisco…
