Back in 2005, hipsters, tech-nerds and anybody that thought they were edgy, but didn’t have enough money for a grown-up house, wanted to live in a cool loft-like space in SoMa. It would be interesting to ask those same cool-kids how they’re feeling about their condos and lofts today. Tracey Taylor of SF Gate explains that ”36% of all [active] condos have seen at least one price reduction and the average cut is 10% off the original asking price.” The article doesn’t get much rosier…
Folks who bought places in 2004 and 2005 are not even getting back the money they paid for their home four to five years ago, says Heather Fernandez, VP of Marketing at Trulia.
SOMA condos may be last to recover [SF Gate]
Filed under: real estate , garrett goldman, SoMa
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