[quote=gzz]My grandparents paid about $35,000 for a house in suburban Detroit in the early 1960’s. It is now worth … about $40,000. If only they had moved to San Francisco and spent $35,000 there! . . . [/quote]
In SF in the 1960’s, a flat valued at $1M+ today cost between $56K and $95K depending on the District it was situated in. A SF “flat” is 1/2 to one whole floor of a 2-4 floor building, NOT a whole house! And since most of the buildings there were completely rebuilt right after the 1906 earthquake and fire, they were 50-60 years old in the 1960’s meaning most of them needed repairs upon purchase.
Your grandparents very likely could have not afforded to buy a place in SF back then, gzz.
