And yet every single home is over a million and well over at that. You would think prices would be plummeting!
“And yet every single home is over a million and well over at that. You would think prices would be plummeting!”
I live part-time in S.F., and I’m a homeowner there. I too am surprised at the prices paid for homes. When a home sells in my neighborhood, I occasionally check the property records and, out of curiosity, do some Googling as to their background. I’d estimate that the lion’s share (>75%) of sales fall into one of three categories:
(1) Buyers from China. When you see buyers named “Xi Zhou Zhang” or similar, you know you’re not looking at American-born Chinese who’d be called something like “Edward Wong” or “Sandra Chu.”
(2) Tech people. Employees of Apple, Nvidia, LinkedIn, Google, Meta, Netflix or similar.
(3) Health care. Doctors/dentists/PTs/nurse practitioners at UCSF medical center or in the Sutter Health Group.
You’d think so - but my family (SIL is a SF native) tells me Chinese are still arriving, flush with cash and paying millions of dollars - cash - for any property that comes on the market. He fought them for two years before he was able to buy a home - they outbid him every time - upping the price into the stratosphere and out of his range.
Asians are the ones being attacked “randomly” by blacks in SF - yet Asians continue to vote ≈ 63-65% for Democrats in the city and state-wide - so this is what they’re voting for.