Correct. And this is in a city where a 2Br/1ba 1000sqft shack built in the 1920’s-30’s over a garage on a 25x100 lot is the median house, and it would probably sell for $600K.
Studio apartment rent is easily $2000
The homeless thing is all an insane muddle of politics and misplaced sentimentality.
That old shack is now around a million dineros. The average used home price in SF is over a mill. Mostly caused by foreign buying (PRC especially )