With all of San Francisco's borderline callous bragging about being a “red hot real estate market” and an “economic recovery cinderella story” or whatever, it turns out Oakland is where the Bay Area's fiscally solvent trendsetters are flocking. According to math conveniently calculated by Movoto, there were only 151 homes for sale in Oakland by the end of March, versus 797 a year ago—an 81% drop. And when you compare Oakland to SF, Oaklands prices are increasing at a greater clip and has even less availability.
What's that mean? Either corporate landlords are betting that Oakland fill their pockets, or Oakland Is Already Over. Regardless, if you want to avoid rising rents and home prices in the Bay Area, you're just going to have to move to Reno.
[via SF Business Times]