source Melia Robinson/Business Insider People are leaving San Francisco in droves as the cost of living reaches a new high. A recent report from real estate-site Redfin revealed that San Francisco lost more residents than any other city in the country in the last quarter of 2017. The great migration is far from over. Last month, 49% of Bay Area residents said they would consider leaving California because of the cost of living, according to a survey of 500 residents by public-relations firm Edelman. Here are all the crazy things happening because of the Bay Area’s insane housing prices: This is how people outside the area imagine living in San Francisco. source Melia Robinson And this is the reality. source iStock The median-priced home in San Francisco sells for $1.5 million, according to Paragon. It’s not uncommon for buyers to bid hundreds of thousands above asking and pay in all cash. source Melia Robinson/Business Insider Source: Paragon … [Read more...] about All the crazy things happening in San Francisco because of its out-of-control housing prices
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The couple that paid $90,000 for a private street in San Francisco and were forced to return it by the rich neighbors said they still haven’t been reimbursed
When a couple bought one of the most exclusive streets in San Francisco for $90,000 in 2015, outraged residents sued the couple and the city. City leaders voted in November to reverse the sale. Michael Cheng, the buyer, tells Business Insider that he and his wife lost Presidio Terrace because the wealthy get their way in San Francisco. The couple has not been reimbursed their $90,000. The Bay Area couple that paid $90,000 for a private street in San Francisco is still waiting to be reimbursed, after they said the rich homeowners who live there made them return the street. In 2017, Michael Cheng and Tina Lam shook up the gated community at Presidio Terrace when residents found out the couple had purchased the street, its sidewalks, and its shrubs for nearly six figures in an online auction. The city had put Presidio Terrace up for sale in 2015 after the homeowners’ association failed to … [Read more...] about The couple that paid $90,000 for a private street in San Francisco and were forced to return it by the rich neighbors said they still haven’t been reimbursed
The couple that paid $90,000 for a private street in San Francisco said a letter from a top Democrat in defense of the wealthy neighbors forced them to return it
A Bay Area couple paid $90,000 for a private street in San Francisco in 2015. In 2017, Sen. Dianne Feinstein, a former resident of the street called Presidio Terrace, wrote a letter to city leaders urging them to reverse the sale. City supervisors voted to overturn the sale. Presidio Terrace is one of the most exclusive streets in San Francisco. Thirty-five mega mansions sit behind a stone wall that surrounds most of the development. A black SUV with a private security company guards the entrance, which is closed to the public.The street’s enhanced security and isolated location at the top of the peninsula have attracted some of the wealthiest and most powerful politicians in California over the years, including Sen. Dianne Feinstein and House Minority Leader Nancy Pelosi. In 2017, a Bay Area couple shook up the tony enclave when residents found out the couple had purchased the street, its sidewalks, and its shrubs for … [Read more...] about The couple that paid $90,000 for a private street in San Francisco said a letter from a top Democrat in defense of the wealthy neighbors forced them to return it
The couple that paid $90,000 for a private street in San Francisco reveal how they bought it, and how the rich and powerful neighbors made them give it back
A couple bought one of the most exclusive streets in San Francisco for $90,000 in 2015. Outraged residents sued the city and the couple. City leaders voted in November to reverse the sale. Now the couple are fighting to win their street back. Michael Cheng, the buyer, tells Business Insider that he and his wife lost Presidio Terrace because the wealthy get their way in San Francisco. Michael Cheng and Tina Lam couldn’t afford to live on Presidio Terrace, one of the most exclusive private streets in San Francisco. But they could buy the sidewalks for $90,000. In an online auction in 2015, the couple from San Jose, California, quietly bought the street, its common area, and the shrubbery that lines the cul-de-sac, without the knowledge of the wealthy homeowners who live there. The city had put Presidio Terrace up for sale after the homeowners’ association failed to pay property taxes on … [Read more...] about The couple that paid $90,000 for a private street in San Francisco reveal how they bought it, and how the rich and powerful neighbors made them give it back
The couple that paid $90,000 for a private street in San Francisco say they had to return it because the rich and powerful get their way in this city
A couple bought one of the most exclusive streets in San Francisco for $90,000. Residents were outraged when they learned of the sale in 2015, and sued the city and the couple. City leaders voted to reverse the sale last November. Now, the couple is fighting to win their street back. Michael Cheng, the buyer, tells Business Insider that he and his wife lost Presidio Terrace because the wealthy get their way in San Francisco. Michael Cheng and Tina Lam couldn’t afford to live on Presidio Terrace, one of the most exclusive private streets in San Francisco. But they could buy the sidewalks for $90,000. In 2015, the couple from San Jose, California, quietly bought the street, its common area, and the shrubbery that lines the cul-de-sac in an online auction, without the knowledge of the wealthy homeowners who live there. The city put Presidio Terrace up for sale after the homeowners’ … [Read more...] about The couple that paid $90,000 for a private street in San Francisco say they had to return it because the rich and powerful get their way in this city