Compzilla

I get your point that you’re not the buyer, and you’re not the one inflating prices. That said, if you are worth as much as you say, you are clearly not middle income with average resources.

You say I’m barking up the wrong tree, but the tree in question is a system that’s pricing out entire generations. Are we just supposed to shrug and say “that’s how it works”? This is capitalism I know, but that doesn't mean it's right.

The fact that something sells doesn’t mean it’s justified, it means the top 1% still has the liquidity to win every bidding war. That’s not “the market”... that’s an engineered, artificial scarcity propped up by investment groups, zoning failure, and captured politics.

My goal isn’t to change you... it’s to chronicle and question what's become accepted practice.

Fair enough. I see your point... probably a poor turn of phrase. I will avoid using it if I do post such a chronicle of transactions.

I appreciate that you and your peer group are doing well, but saying, “if you don’t like it, leave” kind of proves my point. It illustrates a bit of tech wealth blindness. My mother always told me... "just because you can doesn't mean you should." Maybe those with such means shouldn't be so quick to just contribute to the affordability crisis and force out families who have lived there for generations.

The city has become a luxury good, a playground for the wealthy, not a place for the other classes to live. That’s the problem I’m trying to document, not just complain about. By the way, my daughter was born in this city. She just graduated from a very good school, but she will still never be able to afford this place as long as people like you maintain such a callous attitude about those who came before them.

Well, you are entitled to your opinion. That said, I’m not trying to shame individual buyers. It is more just documenting sales that reflect a broken or speculative market. I think that is a valid "reason."

All the addresses I mention are public and already on Zillow/Redfin, along with all the other details. I’m not listing out bidder names or license plates... just citing public sales. It’s less about the buyer (who is not mentioned) and more about how far from fundamentals pricing has drifted.

Yes! I would love to hear someone explain to me how they justified buying such an overvalued piece of real estate. How they allowed themselves to enter into a bidding war for a condominium. I mean this type of real estate is the most vulnerable to volatility, even in SF. If condos aren't risky enough, what about tenancies in common (yikes). SFHs are going to be much more stable of course.

It has always been a bit wackadoodle, but I remember 22-23 years ago, prices were high, but within earth's atmosphere.

Yes, good point. Even a healthy correction won't restore affordability. A nice start would be for those with this kind of wealth to stop overpaying just because they have some deep-seated desire to live in SF.

It seems totally seems plausible that investment groups could be responsible for this... the heaping on of more misery to the crippling affordability crisis there. Do you think they would stop if someone pointed out that they were definitely doing civic harm? That last bit was not to be taken seriously.