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Posted on 06/02/2015 12:49:10 PM PDT by Oldeconomybuyer
We already knew the rent was too damn high, even before we published a report this February showing not only that the median for a one bedroom apartment in the city had jumped to $3,460, but that even formerly cheaper neighborhoods were now among the pricey.
Apparently though, they weren’t high enough. According to Zillow, the new median rent in San Francisco is $4,225 a month. Zillow’s data compose the “Zillow Rental Index” (ZRI). This index shows rents up 16% year-over-year (YOY) this April, and take into account all types of rentals in San Francisco proper, from single family homes to condos to in-laws.
(Excerpt) Read more at blog.sfgate.com ...
And I thought it was high when the 2 story 3 bedroom house at the end of the street was advertized for rent at $750 per month.
A physical space of limited area that a whole lotta people want to live in, and those there have implemented zoning restrictions to preserve what makes people want to live there.
Yeah, it’s gonna get rather expensive when there are people willing to pay more to live there than you do.
I wouldnt live there anyways.
Homo/liberals just love the gentrification, running out all the bothersome minorities
And not a peep from the press . . . Gee, I wonder why?
As long as wages are keeping up...
Oh wait...
Rent will go way down after the next cataclysmic shaker hits. You couldn’t get me to move there if you paid my rent in Pelosiland.
Lousy, damp weather, homosexuals and liberals galore. I wouldn’t live in San Fran were I paid a $4,225 housing supplement.
A friend of a friend, who I am virtually certain is gay, turned-down a job there for all of the reasons you outlined. I think the homeless guy taking a dump on the sidewalk just outside her hotel window sealed the deal for her.
Wow— in many Tx locations one can have 2-3 nice homes for that same amount total in monthly mortgage payments.
Dang! It’s expensive being a leftist, party of the little people, these days!
I left my fart......
In San Francisco
I wonder how much “ethnic diversity” there is, though...
Truth be told, the laws that lead to such high rent rates are INTENDED to drive minorities out.
I don't believe that at all. The rent control laws are stupid, and cause the very conditions that they were supposed to prevent. It's all about supply and demand. Lots of well-paid jobs draw big talent in. Close-by world-famous universities supply the knowledge and think-tanks. Of course the poor can't afford what the well-off workers can afford to pay. So politicians pander to the poorer residents and initiate arbitrary rent control laws. These laws cause landlords to remove units from circulation. It has nothing to do with minorities, or trying to drive them out.
Rather, minorities have moved in! SF has more ethnic diversity than most large cities. The blacks cashed out, selling their homes to buy cheaper housing across the bay. But lots of asians and latinos moved in taking their place. Of course, the blacks were only here since after WWII when they took over Japanese housing that Japanese-Americans were forced to give up. You're wrong on both counts.
I spent a year on Treasure Island back when you could buy a cocktail at Lefty’s for fifty cents. It was interesting but even then it was full of wierdos. I am sure it’s a thousand times worse now. I don’t know why anyone over thirty wants to live in any big city. I think I would go nuts (or even nuttier than I already am) from the noise and congestion.
I don't know how it is in SF, but relatively new laws in L.A. require owners of new multi-unit properties to set aside some units for Section 8 tenants. So, you build a nice new 4-plex and you collect $5K/month on 3 of the units, and you take peanuts for the 4th unit so some welfare family can live there.
I'm glad I sold all my stuff in L.A. and got the heck out of there.
Right now it is shockingly expensive from San Jose to SF.
Rumor says that H1B’s are getting extra $$$ under the table to help pay rent.
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