FW: good story on how the dot.com business is killing san francisco

Joseph S. Barrera III (joe@barrera.org)
Thu, 28 Oct 1999 11:33:14 -0700

The median price of a San Francisco condo was $410,000 in August 1999, more
than a 40-percent increase from August 1998. The median rental price for a
two-bedroom apartment was $2,000. Avalon Towers, the first high-rise
apartment to go up in San Francisco in more than a decade, has had no
trouble attracting tenants who pay rents ranging from $2,400 to $4,000 a
month. Eighty-five percent of them earn more than $100,000 per year, 60
percent are under 40, and two-thirds are new to the city. Good bet these
aren't the bad poets, malcontents, and fruits and nuts looking for a new
start that the city has always attracted.