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This is what a $350,000 house in San Francisco looks like

Listed (17 September, 2015) by realtors as a “distinguished home in need of work.”

In San Francisco, "…it’s clear that money has lost all meaning."
From Rick Gordon


Anonymous said...

Or maybe money is the *only* reality, and other values are merely adjunct to it. This is probably not a very desirable state of affairs.


Peter Robinson said...

I guess the value here is in the lot, because the building itself will probably cost more to demolish than it's worth - a LOT more if there's asbestos or some other nasty stuff in it.

It's the same up here in Vancouver, or probably worse. People are buying beautiful Arts and Crafts bungalows for $1M+ , then demolishing them to build hideous, huge McMansions that cover as much of the lot as zoning permits. All the value is in the lot and what the developer is allowed to do with it. It doesn't matter whether the building on the lot is a beautifully preserved 1900's architectural gem or is a derelict, trashed ruin. It has no value, so down it comes!

Meanwhile, the city council sits on its hands and wonders how it can weather the growing storm of outrage without upsetting the nice, generous developer lobby.

Anonymous said...


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