Just spent the morning in Normal Heights and the valley,breakfast at Adams Steak and Eggs. That neighborhood it so great.So many great people and so many great small business run by great people.I always liked it even when I first shared a house with friends back in 1985. I think the San Francisco effect has definitely hit and it isn’t going back, even though prices will inevitably go back some, maybe drastically in some cases.
I do also know that many owners in Normal Heights are on easy street, for one reason or another. Many recent buyers did not primarily buy their homes/condos with current income streams and many bought very cheaply in the last bust or beforea nd before teh most estreme parts of the boom. I sold some of these. I sold a condo to a woman who was making about ten dollars an hour as a file clerk.She paid cash from family money in Tijuana(no not that kind of family money)I sold a house on Felton cash. One on Madison 1031 exchange with boot from the other sale these are from just making something like eight sales there total. Since people are so friendly and I also worked in many of the houses as a contractor, I know of many other instances like this. Perceiving Normal Heights as desperately poor is a misconception.
