Monday, March 17, 2014

The "There is No Inflation" Report --San Francisco Rental: $50,000 per Month

Heather Knight reports for the San Francisco Chronicle:
The most shocking rental listing is for a new four-bedroom home that will be on the market in April in the Forest Hill Extension neighborhood near Twin Peaks.

For $50,000 a month. Not $5,000 - $50,000.

Convinced this was a typo, I e-mailed property manager Wayne Cheung to confirm the price...

Granted, it's not just a house, it's a mansion. And one that sounds like the ideal setting for a murder mystery game. Colonel Mustard in the "custom walnut-paneled library" with a candlestick!

Asked whether he thinks he'll find somebody willing to pay $50,000 a month, Cheung said, "It's hard to say - the market is pretty haywire, but that's the asking price. Just like anything else, sometimes you get what you want and sometimes you get the best offer."

Makes other Craigslist offerings look downright reasonable.

There's a two-bedroom unit with a den being rented for $11,000 a month at One Rincon Hill, and a four-bedroom condo in the Inner Richmond going for $10,000 a month. Remember back in the good old days when monthly rent checks started with a 1 and had only four digits?

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