Tuesday, July 19, 2016

"San Francisco Now Worth a Record $208 Billion"

Still considerably less than the estimated value of Tokyo at the peak of the bubble, $5 trillion in 1989.
There was a story that a three square meter parcel in the Ginza changed hands for $600k meaning that it was valued at more per square inch than ¥10,000 notes stacked 25 deep on it would total.

From Curbed:

Can you put a price on a city like San Francisco? Yes
Now we can finally trade up to that bridge made out of real gold, rather than this old clunker we’ve been making do with.
Romantics among us would say the city is priceless. But apparently romanticism is not a requisite for the job of assessor-recorder, because the city agency is in the midst of its annual tabulation of the city’s value in cold, hard cash. The early projection: $208 billion.

That’s a record high, of course, and probably not a surprise given that 2015’s estimate put us at  $191 billion. The property tax roll is the estimated value "all real property and all personal property owned in San Francisco."

City Assessor Carmen Chu's office uses these assessments to calculate property taxes. For the rest of us, though, it’s ideal fodder for trivia and/or bragging rights. Although breaking the mind-boggling $200 billion mark is also yet another indicator of how high the city’s profile has grown, financially-speaking....MORE
Somehow related, 2013's "According to a new estimate, Paris could be yours for $965 (or $956) billion" which featured another landmark done up Midas style: