Thousands of New Millionaires Are About to Eat San Francisco Alive (Oakland: buying, income)

[ssmaster]

if you own a home in a desirable waklkable neighborhood inthe urban core of san francisco berkeley or oakland (noe valley,glen park ,claremont or rockridge type of neigborhoods)plan on your home increasing aroud 25%.
if you are looking to purchase a home in those areas prepare for bidding wars against all cash buyers

[likealady]

Originally Posted by Ruth4Truth

I'm glad I don't have a social media presence.

But really, do they make that much money off selling personal info ( ), that they can pay huge staffs, and maintain major office square footage in super high-rent areas? And now they'll have the additional burden of having to pay returns to stockholders?

There must be more to it.

Marketing and advertising companies pay big bucks for that information, so yes, they can.

[ssmaster]

Originally Posted by Ruth4Truth

I'm glad I don't have a social media presence.

But really, do they make that much money off selling personal info ( ), that they can pay huge staffs, and maintain major office square footage in super high-rent areas? And now they'll have the additional burden of having to pay returns to stockholders?

There must be more to it.

they have Ph.d's from MIT writing algorithms to do data mining and class segmentation. they know where you like to vacation ,dine, your likely education level and income etc and sell the info which is used to determine what ads to put on your web pages. they can determine thing you are likely to want to buy and entice you to buy things you do not even know you want ....until you see the ad.

[18Montclair]

Originally Posted by ssmaster

if you own a home in a desirable waklkable neighborhood inthe urban core of san francisco berkeley or oakland (noe valley,glen park ,claremont or rockridge type of neigborhoods)plan on your home increasing aroud 25%.
if you are looking to purchase a home in those areas prepare for bidding wars against all cash buyers

I even think trendy areas of West Oakland and Downtown Oakland are going to see a run up in demand.

[HappyinCali]

BUY BUY BUY lol

[Oakformonday]

Originally Posted by 18Montclair

I even think trendy areas of West Oakland and Downtown Oakland are going to see a run up in demand.

I agree. In the 12 or so years I've lived in Adams Point, it has changed quite a bit demographically. The younger Caucasian and Asian populace have replaced a lot of the older, lower income Black people. It's still diverse but I never see a young man with his pants hanging off his ass like I used to. LOL

But seriously, the downtown core is exploding. Just wait ti'l all the new housing opens up. I imagine most of the newly minted millionaires will stay in SF but they will push out less rich people to the East Bay who will in turn continue to increase the value over here. Across the street from the Whole Foods on Bay Street an 18 story condo tower is being built. https://www.buzzbuzzhome.com/us/277-27th-street I already want to buy a unit but, alas, it will be out of my price range.

[CityGuy88]

The millionaires may stay in SF, but they will push out the 200k per year professionals who will inevitably come to gentrify Oakland (or should I say, what's left of Oakland to gentrify). Then there will be a ripple effect to the point where in 10 years even far out places like Antioch will be out of reach for even the most solidly middle class. In 30 years, the entire Bay Area will be a place for only the very rich.

[Dave Coe]

Originally Posted by 18Montclair

Your article is 6 months old.

That is not that long ago. Could be differentiating between tech elites and rank and file workers. People live in SF for the location but SV just for work.

[18Montclair]

Originally Posted by Dave Coe

That is not that long ago. Could be differentiating between tech elites and rank and file workers. People live in SF for the location but SV just for work.

All of the companies mentioned in the article I posted are headquartered and have the majority of their operations in San Francisco.

[Eli34]

Originally Posted by CityGuy88

The millionaires may stay in SF, but they will push out the 200k per year professionals who will inevitably come to gentrify Oakland (or should I say, what's left of Oakland to gentrify). Then there will be a ripple effect to the point where in 10 years even far out places like Antioch will be out of reach for even the most solidly middle class. In 30 years, the entire Bay Area will be a place for only the very rich.

I think it's already there.