SF home prices fell more than anywhere else in US last month

In December 2022, San Francisco's close-to-list price was 99.1% — meaning homes are selling much closer to the listed price. If the percentage, calculated when dividing the sales price by the list price, is less than 100%, the home sold for less...


58 · 9 days ago · Reddit

95% of "unaffordable" is still unafforable...

We need to build more housing otherwise the City will suffocate.

54 · 9 days ago · Reddit

Let's run a 20% down 30-year fixed rate mortgage at rates achievable at the time using the Zillow Home Value Index.

| Time | ZHVI | Rate | Down Payment | Monthly Payment | Opportunity cost first year at 7% | |----------|---------|------|--------------|-----------------|-----------------------------------| | May 2022 | 1587000 | 3% | 317400 | 6675 | 22218 | | Jan 2023 | 1438000 | 6.5% | 287600 | 8470 | 20132 |

So you have to put in 30k less and you have to pay 2k more / month. There's also a small savings on property tax (~1k).

32 · 9 days ago · Reddit

My parents bought a duplex in the outer mission in 1976 for $40k. They upgraded to a nicer single family house also in the outer mission in 1987 for $240k.

They sold the second one for $1.5m 3 years ago but still have the duplex and rent the upstairs and stay in the little unit below. They could rent that too and live like minor royalty in half the countries of the world.

When I'm 60 I hope to inherit something of the real estate empire but until then I'm just a renter like everybody else. I should have bought something, anything, in 1999 when I had my first chance. But no...it was too crazy unaffordable and I had things to do, like surf and fuck off.


Edit Surf emoji 😂

5 · 9 days ago · Reddit

Oh awesome! So its gone from "No way in hell can you afford a house out here" to "If you win the lottery then maybe you can afford it"