General Question

sparkky's avatar

Does it make sense to buy a condo in San Francisco?

Asked by sparkky (93points) February 5th, 2008

Does it make sense to buy a $500k to $850k condo in San Francisco right now…and without parking…for investment purposes?

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2 Answers

ben's avatar

Probably not, if just for investment purposes. If you need to live there anyway for more than 5 years, maybe.

According to the NYT, in every 5 year period except for the last, the stock market has outperformed the housing market. And San Francisco is still very high. When you include high taxes and earhquake insurance, it’s a very expensive market to own real estate.

That being said, if you’re planning on living there for a while, there’s always a decent chance it will be a decent investment. But strictly financially speaking, I say no.

jllerena's avatar

if you are single and have no plans of marriage yes

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