San Francisco is world-renowned for their astronomical house prices. With an average sale price of US$1.45 million1, it ranks second in most expensive homes in America2, trailing only behind San Jose which is located 50 miles South East of the city. In the last decade following the 2007-2009 housing crisis, house prices have over doubled in value meaning that now it is predicted that one will need to earn at least $172,000 a year to afford a home there3. Continue reading Causes and Effects of High House Prices in San Francisco