The Spread of 'Billionaire's Bay,' the Glut of Million-Dollar Homes Across San Francisco - CityLab: "Between 2012 and 2016, the percentage of $1 million+ homes in San Francisco grew a gobsmacking 37.8 percent, rising to represent 57.4 percent of the homes in the city.
In San Jose, 46.3 percent of homes now cost more than $1 million, an increase of 28.9 percent. And in Oakland, an astonishing 19.7 percent of homes hit seven figures in 2016, a growth of 14.5 percent since 2012. Oakland today boasts a higher percentage of $1 million+ homes than San Francisco did four years ago—a figure that ought to give Oakland residents pause."
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The California housing market has gone nuts, and nowhere is it crazier than in the San Francisco Bay area.
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