Techies thought they were the housing market kings? Hold my algorithmic beer. 🍺

The AI boom is about to make previous tech explosions look like a gentle nudge compared to the seismic shift happening right now in San Francisco’s real estate scene. With companies like OpenAI and Anthropic minting millionaires faster than you can say “machine learning”, the housing market is transforming into an exclusive playground for the AI elite.

The AI Money Tsunami

We’re not talking about small change. OpenAI’s valuation just skyrocketed from $300 billion to $500 billion, essentially equivalent to five Facebook IPOs. Employees are cashing out stock options and flooding the market with cash, driving home prices to stratospheric levels.

Cash is King, and AI is the Emperor

Real estate agents are seeing unprecedented demand. Nina Hatvany, a veteran agent, reports buyers calling her while she’s on vacation, desperate to secure property before AI workers snatch up every available listing. Some renters are casually throwing around $30,000 monthly rental rates like it’s pocket change.

The New Real Estate Reality

If you’re not working in AI, buckle up for a challenging housing market. Median home prices are climbing, inventory is scarce, and competition is fierce. Fixer-uppers are now receiving multiple six-million-dollar offers, and buyers are getting increasingly desperate.

Welcome to San Francisco, where AI doesn’t just code the future, it buys the entire neighborhood.