Home Prices Are Soaring In America’s 2nd Most Dangerous City

With home prices in San Francisco beyond the reach of all but the elitest of the elites, it appears the “just well off” are migrating to Oakland in search of affordable properties. Despite being the second most dangerous city in America, Bloomberg reports that Oakland’s housing market is still soaring even as growth cools in San Francisco as the East Bay city had California’s highest annual appreciation of home values and the biggest rent growth of the 50 largest U. S. cities.
Despite persistently high crime rates and political turmoil, Oakland is attracting residents for its relative affordability, vibrant cultural scene, diverse population and urban environment within commuting distance to San Francisco.

This post was published at Zero Hedge on Aug 24, 2016.