Date:         Tue, 10 Jul 2001 21:41:44 -0700
Reply-To:     steve@SYNCRO.ORG
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         Steve Schwenk <steve@SYNCRO.ORG>
Subject:      Re: Re '91 Westy value
Comments: To: Brian Asbury <asbury@TELEPAK.NET>
Content-Type: text/plain; charset=us-ascii

Median income is between 70,000 and 80000 a year, and
75%+ who live here cannot afford to buy a home.
$500,000 will get you a small 2 bedroom home in an
decent neighborhood.  Anything of decent size in a nice
(not exclusive) neighborhood and you're talking 750k to
start.  But Ben knows better than me.

The upside is rent control.  You get a life estate
basically, not just a leasehold.

And that's another reason there are so many westys
here!  People cannot afford to live in houses.  At 20k,
they're a bargain!

Brian Asbury wrote:
>
> Ok, even I have to admit this thread has gone on way too far, but HOW do
> real people actually afford to live in San Francisco. Is everyone making
> THAT much money? Median house price at 500K? If I wanted to buy a $500K
> house around here, I would have trouble finding one..and then, I would get a
> historic antebellum mansion with the Gulf of Mexico in the front yard.
>
> Brian
>
> > Stephen,
> >
> > He is understating the rental value. My client rented out Summer
> > Sander's old
> > digs in the Marina for a teensy bit more than what we originally had it
> > rented for. It's a one bedroom next to the local health club. Used to rent
> > for $2400. Now it;s rented for $3700.
> >> all rights reserved