Gas prices affects those living in the outlying areas more than those who live and work in the job centers of the “real Bay Area”. As a result, the outlying areas will become even less desirable, while the opposite will be true for the RBA.

So nobody suicide because of housing prices yet, people in America enjoys democracy, so there is no need for revolution, we are just happy to be screwed (or priced out) forever.

Kind of reminded me of the rent horror stories during the dot-com where people were renting closets.

The height of the roof is too low. The window is too large. The space above the garage door is too wide.

Check out the interior photos! Somebody got a great deal on Danger Red and Federal Safety Orange paints.

And now, let’s discuss the price:

Listing History:
Mar 06, 2008 $580,000
Apr 03, 2008 $448,000
Jun 01, 2008 $390,000

Clearly not an REO or the price wouldn’t be cut so aggressively. This is pretty amazing, though, a 32% price cut in only three months. And that first price is less WTF than you think, because:

Sales History:
May 06, 1988 $162,000 –
Mar 31, 1989 $192,500 21.1%/yr
Mar 11, 1997 $167,000 -1.8%/yr
Aug 29, 2005 $592,000 16.1%/yr

Yes, someone actually paid $592K for a toolshed on a half-sized lot. Did I say toolshed? I’m only quoting the seller. The description of the place on Movato describes the floorplan as “Workshop, Attic.”

Is this seller motivated? Hard to say, but the tax bills are late for 2007/08 (both payments) and last year the second installment wasn’t paid until August. And it’s not showing as a pre-foreclosure… yet. I spy with my little eye… someplace that needs an assessment re-evaluation.

But I’m amazed there’s actually something uglier than the tiny post-war tract houses out there. I wonder if this started as a chicken coop or shed that someone managed to extend with salvaged materials?