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Old 03-13-2015, 07:24 PM
 
Location: London, UK
3,397 posts, read 3,813,187 times
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Quote:
Originally Posted by botticelli View Post
Is San Fran really that expensive? On craigslist, I found if you are willing to share a house with a couple of roommates (but you private room), there are plenty of options for about 600$-800$, in the city itself. That's not too bad for a young single person.

If you are willing to live with roommates, all three of these cities become a bit more affordable. The problems arise once you want to live alone, then reality hits that these are the 3 most expensive housing markets in the country.
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Old 03-14-2015, 01:22 PM
 
Location: Baghdad by the Bay (San Francisco, California)
3,530 posts, read 4,119,419 times
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Quote:
Originally Posted by botticelli View Post
Is San Fran really that expensive? On craigslist, I found if you are willing to share a house with a couple of roommates (but you private room), there are plenty of options for about 600$-800$, in the city itself. That's not too bad for a young single person.
It would have to be a seriously dilapidated crack house to be a 2-3 bedroom (offering a private room) for $1800-$2400 ($600-$800 per person) within the City. Perhaps in the worst of SF ghettos, you would find such a place (those ghettos are actually very small and in surprisingly high demand) but even then, it's a stretch.

You may be misreading the listings as "house shares," when they are actually "room shares". There are also many situations in SF, where tech workers live in dormitory-style room shares (2-4 to a room) for about that rate in houses along the shuttle routes, as they spend very little time at home.

In a city where the avg. 1 BR apartment is well over $3000/mo.-- THAT'S AVERAGE -- no, there's not a magic private room in a livable house share out there for $600/mo.
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Old 03-14-2015, 01:47 PM
 
1,353 posts, read 1,148,633 times
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SROs (public, communal housing most common and most saturated in SF where you have a single room that often houses poor families, crackheads, etc) are anywhere from $550-900/mo and the newest one going up will start at $1200. These are what you find throughout the Tenderloin, and they are legally impossible to tear down and redevelop (which is why the Tenderloin is the last neighborhood of its kind in the country).

That's the cheapest housing in SF and if you have an "ok" job or better you won't qualify.

The next cheapest options are:

In-law units in the Sunset (wayyy the heck out there...an hour on a packed light rail train or more than an hour by bus into downtown) that might go for $1500

Studios in the Tenderloin that have been rehabbed that might go from $1500-2200 (this is still a roughhh neighborhood for most people's tastes and you share it with immigrant gangs, thousands of homeless, and SRO occupants)

Finding a deal where you have a ton of roommates, perhaps your own bedroom, but you share a bathroom, and you might get $1200-1600/room in a decent place in a decent hood


There's no way around it - SF is for most people who aren't Russian Oligarchs the most expensive place in the country. Followed by New York, but the gap has widened between the two. Followed pretty distantly then by DC and Boston - they just aren't even in the same league of expensive anymore and they are still pretty darn expensive.

The beauty about New York is its housing stock at this point is in better condition than the equivalents in SF, and there's a lot more new stuff, and while never enough gets built, A LOT more does get built in New York. You can still find a 1 Bedroom in a new building in New York with a doorman for $2200, because there is that much more inventory. The same cannot be said for SF - an equivalent, a 1 bedroom in the rare new building in the city might push $4000 or more. Thus, you have rich techies and finance people living in crappy old housing and driving up the price of crappy old housing that's rent controlled. Housing that would be meant for a fire fighter goes to someone pulling in $160k/year. It's a major issue to consider.

But as a landlord it's all good. Just also know that while there are certain opportunities for landlords in SF, such as Ellis Acting a building (look it up, very hot topic right now), there are lots of pro-tenant groups, a tenant's union, and overall the city is wayyyy more tenant friendly than probably any other city in America. Everything is backwards and difficult and super expensive about SF. You can't jump into that game, even if you wanted. And if you wanted, you better have $$$$ to buy a building...if a building is for cheap, it's probably because it has vested rent controlled units and you'll have a hard time renovating or Ellis Acting. You really can't just do what you want here.
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Old 03-20-2015, 07:30 PM
 
9,232 posts, read 5,511,448 times
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Quote:
Originally Posted by jayo2k View Post
I know for land, but one thing people start doing in cities like Paris and London is to buy property and rent the rooms.
You may want to research the rent control laws in SF. I don't see how your plan is workable there unless you have a large sum of money that you just don't care what kind of returns you get for it.

Your plan might work in cities without rent control, like just outside of SF. Maybe you should look into San Jose, San Mateo, etc, as well.
.
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Old 04-09-2015, 10:22 PM
 
Location: (six-cent-dix-sept)
4,052 posts, read 1,993,808 times
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related article:
City Data Shows How Students Are Crowding the Rental Market - Real estate news - Boston.com
Most Expensive Neighborhoods to Rent in Boston - Real estate news - Boston.com
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