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San Francisco’s median house price rose by $205,000 in the first half of 2018, as iterated in a mid-year report by real estate agency Paragon.
The price swell is one of the city’s biggest in its history, sending the average home price in the city to a whopping $1.62 million.
There’s a direct correlation between these price hikes and the tech industry’s ever-expanding presence in the Silicon Valley region.

San Francisco’s median house price rose by $205,000 in the first half of 2018, according to a mid-year report by real estate agency Paragon. The swell is one of the city’s biggest in its history.

The rise in median home value now makes the average price for a house in the city a whopping $1.62 million, at a time when the average income of a San Franciscan household clocks in at $118,400, according to The East Bay Times.

There’s a direct correlation between these price hikes and the tech industry’s ever-expanding presence in the Silicon Valley region in recent years. Tech behemoths like Google, Facebook and Apple operate out of the Bay Area and recruit a lofty volume of high-earning workers that need to find living quarters here.

These workers’ high salaries, combined with …read more


Source:: Businessinsider – Tech

      

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