By Katie Dowd
A look back into San Francisco's history may make you feel better about how much you're paying to rent here today.
Housing shortages, exorbitant rents and overpriced meals are nothing new for San Francisco. In fact, it almost feels like we're getting back to our roots.
San Francisco during the Gold Rush was a society and economy like no other in America. Before 1849, San Francisco was a sleepy town of just 500. By August, it had ballooned to 6,000. And the next year, it was bursting at the seams with 25,000 residents. Such a rapid, radical transformation meant that living quarters were at a premium.
In one example, a lot of land that cost $23,000 in 1848 was sold for $300,000 the next year. Adjusted for inflation, that's more than $8 million.
And food — some of it sent all the way around the horn, some of it a rare local product — was also in high demand. One egg could cost as much as $90 in present-day prices.