Few housing markets are crazier than San Francisco’s. But what had to happen is starting to happen: while house prices continue to soar, a phenomenal building boom is causing a condo glut that will reach dizzying proportions as new condo towers are completed. And now the dynamics of the market have reversed. The median condo…
Tag Archive for San Francisco
Will this Crush the Insane San Francisco & Silicon Valley Housing Bubble
by Wolf Richter • • 76 Comments
In the city of San Francisco, the median condo price is $1.11 million and the median house price is $1.25 million, up 72% and 88% respectively from the first quarter 2012. Median means, 50% of the units cost more, and 50% cost less. Which creates an absurd situation: only 11% of the households in San…