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« First Google, then the world... | Main | How to Make Friends with Zillow » July 31, 2008As if this is a suprise to anyone...
But, in fact, it’s the quiet Sunset district that topped the list of overpriced ZIP codes in The City — and earned the title of sixth most overpriced neighborhood in the nation — in a study commissioned by Forbes.com and released this week. The report compared the price of buying with the price of renting in neighborhoods across the nation. The places where mortgage payments were far higher than the neighborhood’s rental prices were deemed to be overpriced. But the Forbes story was quick to point out that overpriced homes are not necessarily always bad investments: If they continue to appreciate in value, the payoff will come down the road. Though the Sunset is far from the most expensive neighborhood in The City, its sales prices have far exceeded its rental prices in recent years. Its assets have made it attractive to homebuyers: It borders Golden Gate Park and Ocean Beach, two light-rail lines run through it, it hosts one of the world’s leading medical schools and it has a reputation for safety. Click here for the complete story... Posted by Jeff Brooks on July 31, 2008 03:19 PM | Permalink TrackBackTrackBack URL for this entry: |
