Almost two years since Sam's original post. Time to follow up with some more SF resales. These all sold in 2008.
88 King # 414 sold 4/01 for $485,00 and resold 4/08 for $838,000 8.2% annual compounded appreciation.
601 4th #223 sold 12/03 $870,000 and resold 3/08 $1,320,000 9% ACA.
75 Folsom #1203 sold 9/04 $637,000 and resold 3/08 $819,000 8% ACA.
The above are all condos but I thought I'd take a look at a single family. 131 Mendosa sold 1/06 $1,162,000 and resold 26 months later in 3/08 for $1,400,000 9.2% ACA. They did take out a $2,000 permit to retile baths and kitchen so doesn't seem a flip!
Underwater? Bubble?
Somehow I missed this post. Wow it's already been more than 2 years since my original post.
I think I'm gonna ignore honobob's selective/imaginative data/comment.
I just came back from a three-week trip in Florida. The market there is just as horrible. I was in downtown Miami, where [-]uncountable[/-] lots of highrise condominiums stoods practically empty. I talk to a couple realtors there, and they said the occupancy rate is around 25%. It looked more like 5% to me, but I didn't argue.