You may have heard that housing prices in the Bay Area are at astronomical, crazy, start-the-worker's-revolution-tomorrow levels. The average asking rent for an apartment in San Francisco is $3,458 (not a typo!) and the median home price is hovering somewhere over a million dollars. To afford to live comfortably in San Francisco, estimates suggest you need to earn at least $200,000 a year.
How bad is San Francisco's housing market? It's so bad that this house, a dilapidated lean-to in the city's Outer Mission district, was just listed for sale for $350,000.
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The house, which has two bedrooms and one bathroom and is located on De Long Street in the Outer Mission, is 765 square feet. The listing on ZipRealty describes it as a "fixer," and a "distinguished home in need of work." According to Zillow, it last sold in January 1980 for $51,500.
$350,000 may not be that expensive for San Francisco these days, given that whoever buys this house will likely tear it down and use the land to build a much nicer, more twee tiny house. Still, when a complete, condemnable dump is on the market for a third of a million dollars, it's clear that money has lost all meaning.