The median price for a single family home in San Francisco hit $1 million in April — the highest level since 2007.
The new median price is a 32 percent jump from $760,000 last year.
Told you so. <mic drop>
If anything, I’m surprised it’s only 32%. If my math is correct, this really should’ve been 200%.
Let’s face it – have you seen how much money is out there right now? Just look around – everyone has a brand new Tesla. Everyone just got back from an amazing trip. Geeks no longer wear free t-shirts… it’s all about $400 selvedge jeans. The premium bikes. Paying top dollar for a PBR.
Madhaus calls this Bay Area Bubble 4.0. I disagree. I call this “FINALLY!!!!!”
My only hope is that we can undo some of these onerous government regulations, and bring back innovation into the lending space. It’s been too long since we saw the introduction (and squashing) of disruptive things like NINJA loans and neg-am loans. It’s time to bring these back.
With additional lending innovation, I think we can easily see a 200% increase in the median price in SF by next year. $2M is a much more reasonable price for such an amazing, disruptive area. Just wait until Box and Evernote IPO for $1.4T each. That’s right. You heard it here first.
$6M median home price in SF.
I see it. Can you?