SF housing not in the top 15 globally price-wise (San Francisco, London: low income, real estate)

[HappyinCali]

Not sure what that means, but it could suggest that real estate in the city has a lot more room to go. As you can see from the chart below, San Francisco is not among the top 15 most expensive cities. It could be a function of high income in SF, low income in the Asian cities, or per sq. ft. prices in SF that are significantly lower than global peers.

Anyway, it was just a surprising and interesting finding

https://www.bloomberg.com/news/artic...rdable-housing

[HockeyMac18]

Originally Posted by HappyinCali

Not sure what that means, but it could suggest that real estate in the city has a lot more room to go. As you can see from the chart below, San Francisco is not among the top 15 most expensive cities. It could be a function of high income in SF, low income in the Asian cities, or per sq. ft. prices in SF that are significantly lower than global peers.

Anyway, it was just a surprising and interesting finding

https://www.bloomberg.com/news/artic...rdable-housing

I think it could mean that...and that's kind of scary.

Although this is more about affordability in relation to local wages, right? And less about actual raw cost of housing (which SF could be much higher in globally?), right?

[HappyinCali]

Originally Posted by HockeyMac18

I think it could mean that...and that's kind of scary.

Although this is more about affordability in relation to local wages, right? And less about actual raw cost of housing (which SF could be much higher in globally?), right?

yes, this is about affordability. Shanghai and Mumbai are likely the least relevant comp from that perspective, but Melbourne, Sydney, London, Paris, Tokyo and Singapore all have wages that are likely similar to SF, so those are probably more relevant.

What you see in Tokyo and Singapore are apartments that in absolute amount are comparable to SF, but are significantly higher on a per sq. foot basis and therefore much smaller.

Tokyo is especially notorious for small apartments. Hong Kong and Singapore apartments are also known to be pretty small, although I don't feel like looking up the data right now.

Here is a decent chart on global per sq. ft prices for expensive real estate

http://luxurydefined.christiesreales...ome_Prices.jpg

[TheGoodUsernamesWereTaken]

Is that supposed to be some sort of consolation?

COL in the bay area is ridiculous and inexusable. Period. Even if you can afford it, it doesn't make sense.

[Commonproject]

Originally Posted by HappyinCali

Not sure what that means, but it could suggest that real estate in the city has a lot more room to go. As you can see from the chart below, San Francisco is not among the top 15 most expensive cities. It could be a function of high income in SF, low income in the Asian cities, or per sq. ft. prices in SF that are significantly lower than global peers.

Anyway, it was just a surprising and interesting finding

https://www.bloomberg.com/news/artic...rdable-housing

This is not really surprising given income inequality in those locations...the article only talks about price / income ratio, and nothing about actual pricing. A simple search will be obvious to show that price/sq ft in SF is definitely not lower than in most Asian cities.

[Perma Bear]

Originally Posted by Commonproject

This is not really surprising given income inequality in those locations...the article only talks about price / income ratio, and nothing about actual pricing. A simple search will be obvious to show that price/sq ft in SF is definitely not lower than in most Asian cities.

Maybe we should set up shell companies and buy their real estate in revenge.

[Independentthinking]

That's great news for those that were diligent and persevered home ownership. Other than the YIMBYs who want government controlled socialism to be put in place, most home owners living here will be happy with this news.

[HappyinCali]

Originally Posted by Commonproject

This is not really surprising given income inequality in those locations...the article only talks about price / income ratio, and nothing about actual pricing. A simple search will be obvious to show that price/sq ft in SF is definitely not lower than in most Asian cities.

yes I posted that info in my second post

[Chuck5000]

compared to major global cities, sf is a small one-industry town and not a capital. just not comparable.

[HappyinCali]

Originally Posted by Chuck5000

compared to major global cities, sf is a small one-industry town and not a capital. just not comparable.

Lol, no it is not. Tech was the third major contributor to the city's GDP two years ago. Tourism and healthcare were the two biggest. SF is also a major biotech hub