Yet Again, Local IPOs Make SF Real Estate Dearer Still

Some employees already working for comanies recently made public feel compelled to buy now, before the fresh crop of Zynga/Yelp millionaires enter the competition. Seems these young folks basically all want the same house, in the same place:”a modern, open-plan home in the southern part of town that’s convenient to the city’s tech hub south of Market Street” and public transportation options.

Meanwhile, sellers in the know are waiting to list. “It seems foolish to put [my house] on the market when there are a thousand people down the street who are about to make a million dollars,” said SF homeowner Adam Holm, whose Potrero Hill home is easy walking distance to Zynga’s headquarters.
ยท IPOs Stoke San Francisco Housing Market [Reuters]

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