San Francisco’s housing market has officially entered its villain era, and millennials are feeling the burn.

Imagine investing your entire life savings into a condo, only to discover that your homeowners association (HOA) fees are rising faster than your startup’s stock options. Welcome to the Bay Area’s latest real estate horror show, where condos are transforming from affordable starter homes into financial black holes.

The Insurance Apocalypse

The perfect storm of skyrocketing insurance premiums, strict building inspection laws, and astronomical repair costs is turning condo ownership into an extreme sport for broke millennials. Take the Village at Petrini Place, where HOA dues have doubled from $500 to $1,100 monthly - and that’s just the appetizer in this financial feast of despair.

The Mortgage Blacklist Enters the Chat

There’s a secret “mortgage blacklist” targeting nearly 780 condo complexes across California, making it almost impossible for young buyers to secure conventional loans. Fannie Mae and Freddie Mac are basically playing real estate gatekeepers, ensuring that your homeownership dreams remain firmly in the realm of fantasy.

The Cost of Survival

With median condo values dropping and sale times doubling, the Bay Area housing market is sending a clear message: good luck, suckers. Construction costs are rising, insurance providers are fleeing, and balcony inspections are becoming more expensive than your entire down payment.

The only silver lining? At least you’re suffering in the most expensive real estate market in the country.