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In reply to the discussion: Priced Out [View all]Prism
(5,815 posts)I lucked out in SF East Bay. A spacious one bedroom for $875 a month five minutes from Berkeley, three blocks from a BART station, four blocks from an I-80 ramp, and wedged between two major shopping centers. My friends hate me so very much for it. I think the property manager just liked us when we applied (with 30 other applicants after one day of showing). She probably figured we were gay, we'd fix the place up. Tch. We showed her. I've thought about upgrading now that we can afford quite a lot more, but it's just crazy out there. Two and three bedroom apartments are like $2000 starting, with square footage that isn't really any more than I have now.
In Berkeley proper, apartments half the size of mine were going for $1300-$1600 just five years ago. I have a friend a town over in Emeryville paying $2000 for a studio that, again, is maybe 2/3 the size of my apartment. (We will not discuss the friend who just bought a studio in the S.F. garment district for $550k. I think he's utterly insane).
And it is not getting better. Section 8 in Berkeley is being slowly squeezed out. Old businesses that have been here for years are being mowed down for new developments. Berkeley is going the way of San Francisco with the influx of new wealth. Oakland is slowly going down the same road. A friend's neighbor bought his house in Oakland for around $450k five years ago. He sold this year. It turned into a bidding war. Prospective buyers were bribing him. It eventually went for $880k.
This area is devolving into madness.