Homeowner in San Francisco says to us renters, “the low end prices are gone forever” due to the pandemic

I’ve been looking at a three unit apartment building in San Francisco, on a four digit square foot lot, 10 minutes walking distance to the ocean, and the same distance to a park.<br><br>I went to see it the other day, and the seller was there. I asked him why he was selling and he told me he decided he wants to move to Arizona near his brother. I asked him how he thought the economy was going to be in the future and he said he thought it would be bad. He then said that he thinks home prices have fallen about 15% in San Francisco due to the pandemic, but he thinks they’re coming back and will meet their old highs by February. Nonetheless, he said he thinks the “low end prices are gone forever.”<br><br>To me, that sounds like I’m crazy for buying a house in San Francisco and I should invest my money elsewhere. Does anyone else agree with him?