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San Francisco house prices plunge amid widespread tech layoffs
NY Post ^ | December 28, 2024 | rooke Kato

Posted on 12/29/2024 5:58:01 PM PST by Vendome

The Golden City is losing its shine.

Housing prices in San Francisco have plunged to pre-pandemic levels amid widespread layoffs in the tech sector, SFGATE reports.

Despite still being one of the more expensive metropolitan areas in the US, prices for condominiums and co-ops in the city were down 14.7% from May 2022 and now average $986,000.

Those prices have not been seen since 2015, according to Zillow data analyzed by Wolf Street.

According to the outlet, condo prices doubled between 2012 and 2022, but have now declined by 30% in the past two years.

The Millennium Tower, notorious for being the leaning tower of San Francisco, saw a 44% decrease in price per unit. In September, SFGATE reports, one condo sold for $615,000. A decade prior, it sold for $1.1 million.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events; Politics/Elections; US: California
KEYWORDS: a; bidenomics; bigtech; brookekato; california; californication; city; great; housing; millenniumtower; newsomfornia; newyorkpost; once; realty; sanfrancisco; sanfransicko
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1 posted on 12/29/2024 5:58:01 PM PST by Vendome
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To: Vendome

OH, and I’m still pissed about what they did to the city during the scamdemic and that the police force is underfunded and undermanned.

This while more than 19,000 city employees enjoy paychecks exceeding $150,000

https://www.forbes.com/sites/adamandrzejewski/2020/09/01/why-san-francisco-is-in-trouble—19000-highly-compensated-city-employees-earned-150000-in-pay—perks/

Let attrition take place in the city ranks and hire more cops.

San Jose, CA has only about 7,000 and 12% more residents than San Francisco and is one of the safest cities in america....

https://www.calopps.org/city-of-san-jose


2 posted on 12/29/2024 6:01:57 PM PST by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: Vendome

“The Millennium Tower, notorious for being the leaning tower of San Francisco, saw a 44% decrease in price per unit”

My Nephews “Conservative” in-laws have been in that building for many years. He and his young family just spent two nights in the “leaning tower last week. Sad to hear. They spend a majority of their time in Sonoma now in a fixer upper vacation home that is now fixed up and their primary home.


3 posted on 12/29/2024 6:05:26 PM PST by DAC21
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To: DAC21

“They” being the in-laws.


4 posted on 12/29/2024 6:06:34 PM PST by DAC21
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To: Vendome

“and is one of the safest cities in america....”

Of the cities in CA with a population greater than 50k, 135 are safer than San Jose. 45 are less safe.


5 posted on 12/29/2024 6:15:07 PM PST by TexasGator ('1/11111)
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To: Vendome

I remember 35-40 years ago that San Francisco was known for being the biggest homosexual city in the USA.

What has it become 35-40 years later?


6 posted on 12/29/2024 6:17:15 PM PST by boycott
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To: boycott

I remember 35-40 years ago that San Francisco was known for being the biggest homosexual city in the USA.


https://www.insidermonkey.com/blog/25-cities-with-the-highest-gay-populations-in-the-us-1241261/#google_vignette

1. San Fransisco
Number Of Same-Sex Couples Per 1000 Household: 6.50

San Francisco, renowned as the “Gay Capital of the U.S.,” hosts one of the largest LGBT communities, with 6.2% identifying as LGBT—2.6 points above the national average. The city’s influence extends beyond neighborhoods like Castro and SoMa, shaping history through figures like Harvey Milk. San Francisco is an international gay mecca with numerous LGBTQ icons, festivals, and bars, embodying a vibrant LGBT culture.


still number one


7 posted on 12/29/2024 6:30:08 PM PST by PeterPrinciple (Thinking Caps are no longer being issued, but there must be a warehouse full of them somewhere)
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To: Vendome

Uh oh....

Of course in many areas down in S. CA prices could drop 200k++ and still be too high for what you get.


8 posted on 12/29/2024 6:35:43 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: PeterPrinciple

The city has become a sewer.


9 posted on 12/29/2024 6:37:31 PM PST by boycott
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To: Vendome

I’m in California.
In the early 1980s they bussed our school children to violent Black neighborhoods.
The White people fled the Los Angeles School District.
Now that illegal aliens own homes, expect home prices to drop.


10 posted on 12/29/2024 6:38:03 PM PST by Haddit
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To: PeterPrinciple
I remember 35-40 years ago that San Francisco was known for being the biggest homosexual city in the USA.

https://www.insidermonkey.com/blog/25-cities-with-the-highest-gay-populations-in-the-us-1241261/#google_vignette

1. San Fransisco
Number Of Same-Sex Couples Per 1000 Household: 6.50

San Francisco, renowned as the “Gay Capital of the U.S.,” hosts one of the largest LGBT communities, with 6.2% identifying as LGBT—2.6 points above the national average. The city's influence extends beyond neighborhoods like Castro and SoMa, shaping history through figures like Harvey Milk. San Francisco is an international gay mecca with numerous LGBTQ icons, festivals, and bars, embodying a vibrant LGBT culture.

still number one


Not even close.

Washington DC is reportedly 30% homosexual.

11 posted on 12/29/2024 6:38:27 PM PST by rdcbn1 (TV )
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To: Vendome

So they’re having layoffs.

Then there’s no need to import more H1B visa holders, correct?


12 posted on 12/29/2024 7:01:03 PM PST by packagingguy
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To: DAC21

PRETTY SURE JOE MONTANA BOUGHT A UNIT IN THAT BUILDING


13 posted on 12/29/2024 7:26:24 PM PST by ridesthemiles (not giving up on TRUMP---EVER)
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To: PeterPrinciple

ASK PAUL PELOSI


14 posted on 12/29/2024 7:27:20 PM PST by ridesthemiles (not giving up on TRUMP---EVER)
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To: Haddit

I’m in San Jose


15 posted on 12/29/2024 7:36:24 PM PST by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: Vendome

In downtown San Francisco you can buy real estate for up to 20% cheaper or more and some cases then it cost back in 2019. I don’t know about you but when you account for inflation that is a massive housing crash of around 40% drop in Real home values. People who said home prices would never go down, clearly were very wrong. This housing market is shifting more towards buyers every single day.

https://www.youtube.com/watch?v=AEVAmxXb8B0


16 posted on 12/29/2024 7:58:44 PM PST by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: Vendome

https://nypost.com/2024/12/28/real-estate/san-francisco-house-prices-plunge-amid-widespread-tech-layoffs/


17 posted on 12/29/2024 8:49:42 PM PST by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room)
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To: Vendome

thankfully sold my SF condo in 2014- happy to exit the landlord business in an urban hellscape.

SF real estate will recover eventually but it may take years as the city itself is in a death spiral with the urban core full of zombie offices. The family neighborhoods are doing just fine though nobody with any money has their child in public schools. It is like NYC 1970s, except not yet bankrupt. But as the march to communism continues, things will get worse before they get better.


18 posted on 12/29/2024 9:16:40 PM PST by KingofZion
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To: Vendome

To be fair, in SF of today, $150K is the equivalent of about $440K anywhere else.


19 posted on 12/29/2024 10:59:09 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Vendome

San Fagsicko, where dogs step in people poop.


20 posted on 12/30/2024 6:18:15 AM PST by Uncle Lonny
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