Quote by Chryses
Residential homeowners in San Francisco have lost $260 billion in value on their homes as home sales prices there have fallen 17%, while nationwide home prices have fallen by only about 3%.
San Francisco’s housing price decline reflects the fact that the city has lost more than 65,000 residents, roughly 7.5% of its population. San Francisco’s population loss has been the largest among all major cities in recent years.
Departing San Franciscans have on average,represented households of very high income. Between 2019 and 2021, San Francisco lost nearly $15 billion of household income, even after accounting for those who moved into the city. Taxpayers who filed 2019 tax returns from San Francisco and 2021 returns from a new location reported an average annual adjusted gross income (AGI) to the IRS of nearly $196,000 per household.
Chryses discovering what a bubble is... Tell us about the bubble going on in Podunk, Shitsville or other such places lol
Seriously though, now look up what is happening to home values in the Bay Area outside of SF. My home has more than doubled in the last 10 years.
