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San Francisco's housing market is so dire, a burned-out home is selling 'below market value' at $800,000 [The Business Insider]

Alphabet Inc. - Class C Capital Stock (GOOG) 
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San Francisco's housing market is so dire, a burned-out home is selling 'below market value' at $800,000 Jim Laufenberg and San Francisco MLS Somebody in San Francisco is selling a burned-out house for nearly $800,000 — and the local housing market is so out of control, the listing agent on the home called the asking price low. 121 Grant Street , a one-bedroom, one-bathroom house in the desirable Bernal Heights neighborhood, hit the market in late October. The home was "completely gutted" in a fire in 2016, and the new owners will need to demolish what's left, according to realtor Jim Laufenberg. "I suspect it will sell for more than what I'm asking," Laufenberg told Business Insider, adding that the seller listed the property below market value to incite interest in the first few weeks. The price tag attached to the 1,700-square-foot lot shows the extent of the housing bubble in San Francisco, where tech workers create demand faster than the city can build new housing. In th Show less Read more
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