For the past several years, real estate prices in San Francisco have risen dramatically. This was a welcome change amid the national recovery from the housing crisis of 2008 (and its aftereffects), but prices in the city are rising far faster than the national average. Is there a chance that this could represent a localized real estate bubble in San Francisco? And if so, how could this affect current citizens and prospective investors? Price inflation Let’s take a look at the rising price trends over the past decade or so. Back in 2007, right before the financial crisis, the median home sales price in San Francisco was about $900,000, with a median condo price of just under $800,000. Compare that to the national median home price, which was just over $200,000. That’s a gap of roughly $700,000. During the crisis, home prices in the Bay Area fell to $700,000, while condo prices fell to just over $600,000. The national median price didn’t fall much, resting just below $200,0…
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