you can trade a 2,400-square-foot home for a new iPhone
, but in San Francisco you’d be lucky to find a home under $1 million. So, maybe the fact that a homebuyer was able to find a 330-square-foot cottage in San Fran’s popular neighborhood of Telegraph Hill for $765,000 was actually a good deal?
The historical cottage, at 1448 Kearny St., is part of a group of tiny former earthquake cottages located all across the city, according to SFGate.com. After the big 1906 San Francisco earthquake and fires, anyone with land could take these Army-built shacks.
According to Socket Site
, the property was listed last month after being renovated by its artist-owner, with whitewashed floors, raised ceilings and a new sleeping loft.
The average price of a home in September was $979,700, making it the third least affordable housing market behind Hong Kong and Sydney, according to the Demographia International Housing Affordability Survey.
It’s no surprise that the level of home price inequality in the U.S. is high. In Detroit,