This just in: yet another crap-tastic crack shack has sold in San Francisco for $935,000. SocketSite has been following this one for a while so go there and see pics of this decrepit piece of real estate.
I seriously wonder if we should put this on a billboard, with a pricetag, on billboards that say “Memo to Hippies: The SF of the 60s is dead. Do not come here and expect to rent a room in a big nice house for cheap and live off of handouts. Unless you’re rich enough to buy this crapshack and renovate it to livable standards, please, stay away. Thank You.”
Or something. I mean, at this point, all the housing measures in the world (along with all the ones we’ve passed) don’t seem to mean much if even a craphouse like this is selling for almost a million dollars.
Put another way – how do you build lots of “cheap affordable” housing on super expensive dirt? More importantly, is it really feasible for anyone to build anything that’s not super expensive condos for wealthy childless couples anymore when you have garbage selling for almost a million bucks?
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