Meh, I read the whole thing hoping to find something interesting, but came away empty.
Take this nugget: "Decent people who are being driven out of housing by rich founders from the last cycle who drive up home prices and rents in a city always short on affordable housing."
Yes, there are Twitter/FB/Google millionaires buying up property; but there are also a lot of foreign buyers. Walk the streets of Nob Hill, Marina, Cole Valley, etc. and you'll be surprised at the number of foreign languages you hear.
Comments
Meh, I read the whole thing hoping to find something interesting, but came away empty.
Take this nugget: "Decent people who are being driven out of housing by rich founders from the last cycle who drive up home prices and rents in a city always short on affordable housing."
Umm... no. I live here. What's different this time is that a lot of the sales are happening to foreign (mainly, Chinese) buyers. http://blog.sfgate.com/ontheblock/2013/10/29/chinese-investo...
Yes, there are Twitter/FB/Google millionaires buying up property; but there are also a lot of foreign buyers. Walk the streets of Nob Hill, Marina, Cole Valley, etc. and you'll be surprised at the number of foreign languages you hear.