Taking It Good and Hard In San Francisco
Bill Quick

The Coming Real Estate Bubble – Bloomberg View

“Transitional” meant . . . oh, you can figure it out. We had gone north of H Street and east of North Capitol to the unfashionable precincts of the city’s Northeast quadrant. The most common response, when we told people where we lived, was “Where the hell is Eckington?” The second-most-common response was, “Wow [rapid eye-blinking]. I could never live there. It’s too far from everything.”1

Well, that was my logic in buying a condo in Hunter’s Point, traditionally the black ghetto neighborhood of San Francisco.  SF went through a housing bust, a crash that cut the comp value of my own house by more than 75%.  Sadly, although the remainder of The City has recovered and is now posting new median highs in housing prices (over $875,000, according to Zillow), the largesse has not hit my nabe.  I just checked comps, and see that my own place is still underwater by about $100k, and is valued at about $725k under the median for The City at large.

 

 

 

Posted in Housing permalink
Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

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