San Francisco Chronicle

... You know real estate is out of control when

- Marshall Kilduff, editorial writer

A fire-blackened home in San Jose is up for sale at $800,000. Now a Fremont house that’s condemned due to a leaky roof and mildew just sold for $1.23 million, $230,000 over the asking price. This pair of knockdowns are telling us what we don’t want to hear. The housing crisis is getting worse to an absurd degree.

Calling them dumps is an insult to trash heaps. Each house is a teardown, meaning it’s the land that’s up for sale. Whatever comes next will be more expensive, likely in the $2 million plus range. No wonder people sleep in tents and under freeways.

Real estate war stories get people talking. Maybe these two examples will get the Bay Area and the rest of California headed toward action. Sacramento just whiffed by voting down a plan obliging cities to build more dwelling units.

If that message stands, get ready for more million-dollar wrecks in your neighborho­od.

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