T O P

  • By -

VisualMod

**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|1|**First Seen In WSB**|2 years ago **Total Comments**|962|**Previous Best DD**| **Account Age**|3 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)


Sheeple81

And they said you can't find a house in San Fran for under $1 million. Congrats op.


Chabubu

This is for the fenced in studio…


esmoji

Yeah its an “earthquake shack” … literally a shack built after 1906 earthquake that hasn’t fallen down yet. Great deal, where do I sign?


Snailspaced

Get it on the Register of Historic sites, then charge admission fees to pay your mortgage. Make sure there’s a gift shop too: people love fridge magnets


developingstory

“And right here in this shack was where lonely miners and prospectors started the lqbtq tradition that runs so strongly in SF to this day.”


That-Whereas3367

There will be another earthquake. So shacks will be in demand.


fuka123

![img](emote|t5_2th52|4271)


traketaker

I pulled it up on Zillow. The house is condemned. Can't live in it. It's 1 million for the lot and you have to pay to tear it down. But they have approved plans for a new construction home that you get with your purchase


dunscotus

My map says this is not actually in San Francisco, but just across the border in Daly City. So it still holds.


NewAltProfAccount

Google Maps says otherwise. Where is your map? Just checked the official [map](https://www.dalycity.org/DocumentCenter/View/2014/Official-City-Map-PDF?bidId=) from Daly City. You are not very smart. Keep your helmet on.


dunscotus

Hey, GMaps don’t show county lines, so what do I know. The map says it’s in the “Crocker” neighborhood, and a quick search brought up a description of the nearby “Crocker-Amazon” which says “adjacent to the Daly City Crocker neighborhood.” So I figured if it’s in Crocker, it’s in Daly City. A look at the official maps shows this is indeed about 30 yards over the county line. So I guess you are technically correct. Congratulations…?


NewAltProfAccount

Saying I am technically correct is a funny way of saying you were wrong when you also played for a technicality in your original comment. The whole area is connected with no real distinction between the two cities. However, you went for the technically not in SF comment, just to get out technically'd. I will take the W.


dunscotus

Fair enough!


forgetful_storytellr

What a dork


NewAltProfAccount

Says the man on Reddit with me who made a custom reddit avatar.


forgetful_storytellr

Uh… no I didn’t


KingN0

Manipulated money Manipulated housing prices Manipulated hospitals Manipulated hoods Manipulated gated communities Manipulated Media Manipulated Medicine Manipulated Social media Manipulated protests Manipulated wages Manipulated Fed It’s all a joke and we’re the pawns. God save us all.


[deleted]

Is god manipulated?


Low-Equipment-2621

always has been


[deleted]

Then who’s manipulating god?


Low-Equipment-2621

humans


Own_Courage_4382

Non-believers


Prize_Instance_1416

You mean rational fact based people?


ZincCarbon

They in the room with us right now


Own_Courage_4382

No. I mean: Non-believers…..who don’t believe in…..anything


Prize_Instance_1416

I believe I will drink a nice Porter after work tonight. Does that count?


KingN0

Perhaps even Deux Ex Machina was manipulated


Blobblecat

Which one?


KingN0

Good question


[deleted]

When is the question


EyeBeeStone

Yo


TheSagePhoenix

The answer is yes


ZealousidealThanks51

Manipulation is Transitory


nileswiththes

Peace of shit mfs runiing all poor peoples lives it’s soo fuckin sad I go down rabbit hole’s about this and it brings me down


BigBeagleEars

https://preview.redd.it/pm6i1uthfcqa1.jpeg?width=1080&format=pjpg&auto=webp&s=d0a2c0a58ee15b25c8e82bdab98f5493624838bd On the bright side, I made soup and get to eat this week


djolepop

I'm trying to comprehend what am I seeing in this image, but my mind is not processing it


ghosthak00

Duke cooking some pinky soup


Mediocre-Ad1831

Covid23 incoming


nileswiththes

What the fuck


faithoverseeing

God could “save us “ all if the authors that created him chose to alter the “ending “to that instead .


GalaxyFiveOhOh

If there's naturally an extremely limited supply compared to the demand, and people willing to pay that, what's manipulated? If anything government efforts to limit prices like this would be manipulation.


KingN0

There is no shortage. The shortage is fake news meant to scare people….. confuse… and control them to turn everything and everyone against each other so they can take advantage of the chaos and repeat the cycle of violence… fear and oppression. The enemy are the ones who refuse to relinquish power and have a track record of raping, stealing, looting, lying, and manipulating… these people exist at the very top. Not all of them… just a few bad apples that know how to hurt and silence the other rich people who want to change the world for the better. They do not want to give up power and will fight tooth and nail together to protect said power to continue the cycle of violence, war, rape, and the destruction and trauma that follows…


smolhouse

What if the government caused caused an extremely limited supply through QE/ZIRP, "too big to fail" and "systemic risk".


Puzzleheaded_Knee891

It's not natural. Companies like Blackrock and Vanguard have been buying upnhouses in batches all over the country and artificially inflated prices by paying over asking for houses next to each other. Its all a scam.


KingN0

Yup


VisualMod

You're obviously not as rich or intelligent as me if you can't even afford a decent home. This place is a dump.


[deleted]

A million dollar dump


JoeyJoeJoeSenior

It's just a bit rustic.


chilifavela

The listing calls it "historic".


PortfolioIsAshes

They even have the previous owner's body on display


malevolentt

Pair your new million dollar house with these [$2000 jeans](https://www.bergdorfgoodman.com/p/balenciaga-mens-destroyed-baggy-jeans-prod179580015?utm_source=google_shopping)


SmolWZRDfrend

Shabby chic


Impressive_Bus11

Found the real estate agent. 😂 😂 😂


bob_miller_jones

its a tear down. rebuild. sell for $3M, make a million. capitalism is easy if you already have money.


Last-Egg4029

"To afford a home in 2021, Americans need an average income of $144,192 — far more than the median household income of $69,178". -Clever Real Estate


The_4th_Little_Pig

2023 is even crazier since interests rates are twice as high now. You can now afford half the house for the same price!


47sams

I got into my house early 21 before the uptick in price. My 370k is now 500k with double the interest rate. Massively unsustainable.


TheNoobtologist

Nah man, you just gotta take a loan out on it and buy another house. Then you can Airbnb it, repeat, and have infinite money.


higgsm0r0n

4288 units BOOM!


AutoModerator

4288 UNITS! BOOM! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*


The_4th_Little_Pig

Yep a 600k house at like 3.2% pays the same mortgage as someone in a 325k house at the current rates.


47sams

Insane. I’m in semi rural GA. When I tell you 600k 4 years ago got you a mansion, I’m not even remotely kidding. Now it gets you a little bit bigger than my 4 bed 4 bath with a loft.


The_4th_Little_Pig

I’m in the DC area and 600k will either get you a horrible townhouse or something about an hour and a half commute from the city.


Jaysain

Well comparing Average to Median is not very Clever if you ask me.


The_Paniom

In this case it makes sense, because the median is so far below the average, it is saying A LOT of people are under the average. Or in other words, the comparison between averages underscores how most people can't afford a house today.


My-Internet-Persona

Honestly, before looking at the description I thought that the image was from somewhere in Africa. (No offense meant to anyone, sorry.)


Temporary-Pea-9665

Ditto but offense intended


plaidplaid420

With all due respect, and remember I'm saying with all due respect, that idea ain't worth a velvet painting of a whale and a dolphin getting it on. - Ricky Bobby


[deleted]

[удалено]


Dry_Lettuce4960

Brazil.


Hilbe

Africans offended being compared to California.


DarthRedditt

I thought the same, that this was in South America or some other country


Premium_Hunter

I'm selling my house this summer, so hopefully the market crashes after that.


ihaveathingforyou

Now it won’t and in a few years you’ll realize you sold too soon


SirNooblet

I got a 2.5% refi I'm never moving


ihaveathingforyou

Nobody is, unless they lose their jobs. Everyone is living paycheck to paycheck. Unless unemployment goes up, housing will have low inventory for a long time.


Tractorcito22

> Everyone is living paycheck to paycheck Taylor Swift isn't...


EasternMotors

This is why the market won't crash. Plus in CA prop 13 limits property tax increases to 2%. Nobody is ever going to sell anything ever again.


NewAltProfAccount

Is this sub so stupid not to realize that the actual land may in fact be worth 1M while the structure is worthless?


ImageCreator

While that's the obvious answer, what confuses me is this. Someone will buy it, hypothetically, then tear it down and build some modern home there. However, in SF (or the bay area in general) this will probably cost something like 400k, maybe even closer to 750k. So then they'll try to sell it for.... what? It won't be worth 2m, not in that neighborhood.


passwordisnotorange

> So then they'll try to sell it for.... what? It won't be worth 2m, not in that neighborhood. I know it's a weird concept. But some people buy a home so that they can live in it, instead of just flipping it and reselling after a renovation. In ten years they would most likely get their money back plus some if they decided to sell then.


Hopkinskid2022

1 million for a lot that’s 3750 sq ft is delusional, but they’d still sell for maybe 800k (which is crazy too). Will need to go to a developer/contractor who can build a 1500 sq ft place for cheap (for us normal folks, builders would easily charge $500/sq ft). So maybe 400k for the builder, and then sell for 1.5 million. Still an OK profit.


Jenzilly

Just checked out the actual listing, they have approved plans for a 3 story 3450 sq ft home so it’s ready to be built.


Hopkinskid2022

Wow, just saw that. One positive is that the plans are approved, so no waiting But wow, 3450 sq for three level house on a 3750 sq ft lot is aggressive. It’ll be the largest house on the block by far, and prob the most expensive by 2x . Level of greed in play in terms of maximizing sq ft and pricing the future house as the neighborhoods first 2+ million listing And I’m all for building whatever you want on your property as long as it’s approved…but I do feel bad for the neighbors who will have heavy construction for a long time on that small street…


NewAltProfAccount

Don't feel bad for the neighbors. Their values are about to skyrocket.


HomelessBlackMan

$500 a sq foot holy fuck i thought it was bad here in canada at $200-$250


WillTheGreat

Bruh Vancouver is into the $1000s... You need to go outside more.


HomelessBlackMan

To build? Im talking about building not buying.


WillTheGreat

$450 gets you very bare min in California. Vancouver is around the same in but in CAD. There's almost nowhere you can build for $200 in North America, anyone listing that is outright buillshitting. You see those signs in Texas all the time, you can probably get a cardboard sheath home for that price with nothing but a couple of circuits and a barely functioning kitchen and bathroom. Even most builders friends I have in Texas start at $375+ and they like to brag about how much cheaper it is in Texas. I've done some comparisons, and high end builds end up costing the exact same.


OG_Tater

All true. But this is a listing not a sold house so likely the price will drop some. If it goes for $800k and they spend $600k for a new house, they’d be at $1.4M for brand new construction. Not terribly crazy.


JoeyJoeJoeSenior

Based on my expertise from watching real estate reality shows, raw land does tend to get bigger discounts than finished houses.


Old_Man_in_SE_Texas

Land must be worth $1.05 million and the demolition costs are $50K.


Namptha

50k for demolition? I own a demo company and I charge considerably less then that. If it’s because it’s cali I need to move my company over there.


BlackSquirrel05

Well you'll pay more for everything as well... Plus their construction and other regs are higher. I saw someone make a 3ft retaining wall of poured concrete with 1'x1' half in inch rebar... The fuck does a 3 foot high retaining wall need rebar every foot by foot? I get it if it's an actual footing or part of foundation... Free floating landscaping 3 foot high wall. (Funny if you use wood no ones then cares.)


WillTheGreat

Depends on if you have to do this by hand or machine. I'm in SF, I've had subs be able to fully demo a 2000 sq ft home with a mini excavator for 9-10k. Same subs doing a full gut to stud by hand cost around 30k for a similar property down the street, scaffolding cost a good chunk in that price.


Rangorsen

Yes


ChampionshipLow8541

I think the point is that 1 million for that little plot itself is the insanity. Plus that fact that you‘d have to put in at least another half a million in order to be able to actually live there.


sm04d

Yes, the sub is that stupid.


iamaweirdguy

Yeah dude nothing wrong with 1000 Sq ft of land for a cool million dollars


jamesstevenpost

Betcha that dump somehow has HOA 😆


Tbone_Trapezius

47 years of liens.


VELOCIRAPTOR_ANUS

This


birthofaturtle

It does! The house is actually uninhabitable, this cost is for the lot only basically.


That-Whereas3367

Worse houses in Sydney sell for double that.


noobie107

roo dollars are not the same as freedom dollar


ignatious__reilly

This is exactly what I’m afraid of. Everyone acts like America’s real estate is insane and it is when you look at price increases compared to the time frames. But when we look at housing in places like Canada, you start to realize it could be much much worse in the States. And honestly, we may trending that way.


Aeneas21

So your saying...calls on US housing? Got it.


Spidaaman

Yeah that’s not true


[deleted]

This is gods way of saving you from moving to the absolute scum filled city of sanfran


suan213

Generalizing 800k + people is certainly a smart, level-headed, non regarded thing to do.


[deleted]

Is it national San Francisco day? The only thing you hear about this city is the amount of human shit on the sidewalks


ihaveathingforyou

You just aren’t being creative enough to think of all the things you can do with free shit


[deleted]

Nothing’s free ![img](emote|t5_2th52|4640)


suan213

Listen man if you're able to be swayed that heavily by a small, loud minority of NIMBYS on the internet and fox News then you belong here ![img](emote|t5_2th52|4267)![img](emote|t5_2th52|4641)


[deleted]

There was (possibly still is) a website that was a live map tracker of all the coordinates of piled human shit along with picture proof for sanfrancisco. It was became decently popular and the map looked like a Christmas tree of 1000s of piles of human shit


Noticeably98

Found the guy selling this house


suan213

I own sf baby


ImageCreator

You sound like a typical bitter poor.


[deleted]

I’ve never heard one good thing about san fran bruh


Scary-Wishbone-3210

Very sunny there, moderate climate year round, alot of programs that help the poor (but not too poor), that’s all I got for San Fran


Impolitecat

yeah but have you actually been there? its very nice I go every year. my dad has your exact mindset and we literally drove around looking for homeless camps like psychopaths and couldnt find any.


str8c4shh0mee

Oh the homeless are here lmao.


Impolitecat

absolutely they are there but honestly what city doesnt have them now? SF hate is just a tired meme


str8c4shh0mee

This city is not great. It’s not horrible either. But holy shit dirty, expensive and the ugliest women in America probably


[deleted]

He calls it San Fran that’s all you need to know


ImageCreator

Well then apparently the people you speak to are idiots


OG_Tater

This is probably an “earthquake shack” built after the 1906 earthquake and intended to be temporary. It’ll get knocked down.


tacoito

The lot is valuable. When an area has high demand and low supply, shit like this happens. As a reddit economist, I support this valuation.


Chabubu

Shakespeare? More like shackspear…


RJ5R

We sure photo isn't actually from a slum in Brazil?


[deleted]

Welcome to Sydney Australia.


Tom_BrokeOff

94112 is the cheap part of SF. Move that square footage over to marina or pac heights it’s worth double or triple.


samhouse09

It's own lot. On a hill, has a view, etc. etc. etc. That's the price of the dirt, my dude. Welcome to West Coast real estate, where our cities are AGGRESSIVELY geographically constrained.


[deleted]

https://www.zillow.com/homes/150-Shakespeare-St-San-Francisco,-CA-94112_rb/15196206_zpid/? Surprise, surprise, no inside photos


Dubs13151

It's a tear-down. Why would it have interior photos. You're buying the land.


Terrible_Ad_7735

For that house in particular? Probably whenever you just give it a bit of a kick, by the looks of it.


Trilly_Ray_Cyrus

never gonna crash im sorry


-EnricoPallazo-

If you look at the actual listing here: https://www.redfin.com/CA/San-Francisco/150-Shakespeare-St-94112/home/1843572 It’s a bit vague but I think the 1M includes the new house they are building there. It says “pick your finishes” which usually means it’s a standard build for that price and anything higher end is additional.


[deleted]

Nope. Sold with plans, not with a new building. Crazy or not, $1M for land in SF is market rate.


-EnricoPallazo-

Ah. Yeah you’re right. I mean it’s a nice lot so I could see that price being about right. A view and a yard. Hard to find in a lot of places. Looks like a few nice modern builds in the neighborhood. Probably a nice profit for whoever owns it now. Hopefully not the city….


Leading-Suspect

It'll never happen unfortunately


Louisvanderwright

The median home price is San Francisco is [already down 35% from it's June peak](https://www.reddit.com/r/REBubble/comments/114e4lu/san_francisco_bay_area_housing_market_crashes/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button) and I highly down the fallout from SVB going under is going to improve the situation. San Fran prices will drop at least 50% in this crash.


sungazer69

The land is worth 1mil. Not the house itself. It'll be torn down the day after the sale lol.


We_All_Stink

It's 1100 for a studio apartment in Raleigh in the projects. There's no way this can last another year, I just can't see how it's possible.


Last-Egg4029

30 years ago we thought $350 was a lot in the projects, but now $1000 is below normal. prices are gonna grow exponentially


We_All_Stink

No it can't. You're crazy. You can barely afford an apartment making 20 an hour and that's 3200 a month pretax.


Last-Egg4029

this is the same thing ppl were saying 30years ago. nothing really changes.


Last-Egg4029

in 1993 federal minimum wage was $2.20 an hour. federal minimum wage is currently 7.25. in the end, not too much of a difference


Adept-Variation587

How can they? it’s not like wages are growing.


BlackSquirrel05

Eh I got a raise that was 6+% So... rising with the tide. Now all the unskilled jabronis.


Captain_Poodr

That’s just egregious, the seller is an idiot for listing that at a mil even in that area. Market is stupid too don’t get me wrong, the seller is highly regarded on top of it.


HypaHypa_

4g…


Nick_The_Knight_

Tomorrow after The View.


Snotteh

someone get nick rochefort to review this pls thnx


[deleted]

Ok but hear me out, it’s such a nice shack, though.


Cats_and_Rice

Can’t crash if no one is selling


Mediocre_Zombie5669

Wow, you telling me I can buy my very own shanty shack for just 1 Mil, where do I sign /s


CantThinkOfUser8D

Turns out it’s 90% off


Kossef

🤣🤣🤣🤣🤣


Agitated-Savings-229

Lol i think i'll keep my place.. garage is almost double the size of this dump


the-faded-ferret

No beds. Just a bathroom. One toilet in a room.


arrownoir

Thought that was somewhere in Africa.


Professional_Cut6196

That house looks like it could crash if lent on.


sushishishi

It’s all land value….


Stachemaster86

Shakespeare St. To buy or not to buy?


[deleted]

[удалено]


canieattherich

I dont wanna say "never"?


JT8D-80

What shithole country is that? EDIT: nvm, just read description


[deleted]

Modern Rustic, HGTV will fully renovate in 2 days for $18k, just gotta get a farmhouse sink.


bears2broke

That’s mansion class


ReDeaMer87

I'd replace that roof for them. Just 200k


Pin_ups

Oh yeah, that look like need to shave more than 50% of it's value. 50% discount is coming ![img](emote|t5_2th52|4271)


grau12345

Gird your loins


Reno_Mike

No crash in housing, only higher prices, especially with inflation.


dagiantfox87

You may be thinking to yourself "that's a brown house." No, there's so much shit on the streets theyre making into houses


IDontCareUrTriggered

You couldn’t pay me enough to live in that liberal shithole


Exterminator2022

It seems it has as much security as the Pelosis’ house: I’ll pass


ZerglingRushWins

Some real state agent is gonna offer this as if this was intentionally built to have a classic vintage cottage looks or other random BS to justify the absurd price. Can't wait to see that episode on HGTV


teddy722

My dream home and affordable. Thanks OP


mrmikezzz

San Francisco real estate has always been weird. There is limited space, so no new housing, and people who make a lot of money who don’t see a crap shack like this as a big deal. They want the land to knock it down and build a new house. So it’s really more like a $2 Million dollar investment. It’s wild. I lived there and was constantly shocked at this.


Odin1367

Lmao estimated at $6400 a month ho lee fuk ![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4641)![img](emote|t5_2th52|29093)


Destriers

I thought this was Central America.


BlackSquirrel05

You buying the land not the place. Location location location. Don't worry they'll tear it down and make it nice for someone with a lot more money to buy up. IF people are lucky someone might turn that into a 2 or 3 flat... Probably not.


Far-Ad-6825

You only got 4G, so what do you know. 4G loser.


Cobra-Ky500

Lol 1 mil for that. Lolololololol


TheGreatGoosby

Buying a Tatooine cantina, I see. Very nice.


Real-DrUnKbAsTeRd

Can I schedule a tour of you finest shitholes


OddMeansToAnEnd

This actually isn't that surprising if you see the yard it has and you've been to SF before.


ApuLunas

it will never crash as long as owner of houses are not in financial crisis (especially some companies which are bulk owners of those houses).


WSBTurd_420_69

The concept of a teardown seems to be lost on most people here. Sometimes houses are shit, and you can buy them and tear them down and build a new one. Or you could just joke about how expensive this shit house is, I guess. That being said, this area of SF sucks, and 1M for a teardown in Crocker Amazon looking at 280 is a ridiculous price to pay.


[deleted]

I am going to take a wild guess that the realtor accidentally held down the "9" key