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Sep 14, 2015 - San Francisco is notorious for its jaw-dropping real estate prices. The median rent for a one-bedroom apartment stands at $3,460 a month. But it's not just housing expenses that will eat away at your paycheck. In general, the total cost of living in San Francisco is 62.6% higher than the US average.
You might ask why is it so expensive?
That's easy.
Silicon Valley dot com millionaires and billionaires (near san Jose) have discovered San Francisco as an investment opportunity.
So, they are buying up houses and doubling and tripling and even quadrupling the prices on houses and all properties there. Some dot com businesses have also moved to San Francisco as well. So, just as Microsoft and Amazon have large facilities in Seattle, Dot Comer millionaires and billionaires have discovered San Francisco, much to the sadness of poorer native San Franciscans who have to now move to another county or state because of the doubling tripling and quadrupling of housing prices in the San Francisco Bay area. So, unless your house is paid for and all you have to pay is property taxes it is not a good thing what is happening to san Francisco for most long time residents who might have lived here now for 150 to 175 years or more (their ancestors and families). And because of rising prices it also might affect property taxes for some people in fixed incomes too who might be forced to sell when they don't want to because they cannot afford more property taxes on a fixed income.
You might ask why is it so expensive?
That's easy.
Silicon Valley dot com millionaires and billionaires (near san Jose) have discovered San Francisco as an investment opportunity.
So, they are buying up houses and doubling and tripling and even quadrupling the prices on houses and all properties there. Some dot com businesses have also moved to San Francisco as well. So, just as Microsoft and Amazon have large facilities in Seattle, Dot Comer millionaires and billionaires have discovered San Francisco, much to the sadness of poorer native San Franciscans who have to now move to another county or state because of the doubling tripling and quadrupling of housing prices in the San Francisco Bay area. So, unless your house is paid for and all you have to pay is property taxes it is not a good thing what is happening to san Francisco for most long time residents who might have lived here now for 150 to 175 years or more (their ancestors and families). And because of rising prices it also might affect property taxes for some people in fixed incomes too who might be forced to sell when they don't want to because they cannot afford more property taxes on a fixed income.
