The Great Chinese Exodus
It is said that a big factor in the rise of property values in SF is the money coming in from China.<p>A realtor friend of mine here in SF was narrating the tale of a house (on Pacific Heights, one of prime neighborhoods) going for sale for $2.7M, and ending up being sold for $3.5M after a bidding war... between 2 Chinese men, both of whom were in China, and were buying the property sight-unseen, all cash.<p><a href="http://blog.sfgate.com/ontheblock/2014/05/02/catering-to-chinese-buyers-in-san-franciscos-real-estate-market/#22929101=0" rel="nofollow">http://blog.sfgate.com/ontheblock/2014/05/02/catering-to-chi...</a>