Monday, December 14, 2015

Jacob Riis Lives! "San Francisco Housing Bubble Goes Subterranean: $500/Month To Live In A Crawlspace"

What was old is new again.

First up, ZeroHedge:
While housing bubbles around the world are imploding from a sudden withdrawal of foreign capital (most recently exposed in Manhattan's 9-year high vacancy rate) there is still an excess of greater fools clinging to their unicorn dreams in the Bay Area to keep San Francisco home prices exuberant and rental costs through the roof... or in the case of this unbelievable Craigslist offering - through the floor.
Located just off the intersection of Pine and Divisadero (a nice area of the city) ...MORE

And from Mr. Riis' groundbreaking 1890 exposé, How the Other Half Lives: Studies among the Tenements of New York:
One of four pedlars who slept in the cellar of 11 Ludlow Street rear