Homeowners in San Francisco looking to sell in the troubled city are a whopping four times more likely than the average US home seller to take a loss, according to real estate brokerage Redfin.
Residents looking to get out of the city — where a once-trendy downtown area has descended into a drug-addled hellscape, and historic hotels have been converted into roach-infested “Single-Room Occupancy” housing for vagrants — can expect to sell their San Francisco abode for $100,000 less than they bought it for.
Roughly 12.3% — or one in eight — of the homes sold in the Bay Area during the three months ended July 31 was purchased for less than the seller bought it for, Redfin found.
The figure is a 5% increase from the same period a year ago, is higher than any other major US metropolis and a staggering four times the 3% national rate of homeowners who take a loss when selling their homes, according to the real estate firm.
Detroit is home to the second-highest share of homeowners who take a loss in their home-selling transactions, at 6.9%, followed by Chicago and New York, where 6.5% and 5.9% of homeowners take a loss in selling their homes, respectively.
Though the share of New York homeowners who reported a loss was half that in San Francisco, the cities were tied for the largest median loss in dollars, at $100,000, Redfin found in a separate analysis.
Thus, it’s not a surprise that San Francisco, Detroit, Chicago and New York all rank among the top 10 cities Redfin found residents want to move out of.
San Francisco ranks No. 1, New York No. 2, Chicago No. 5 and Detroit No. 9, according to Redfin.
Across the US, the average homeowner who didn’t profit off of selling their home lost $35,538, according to Redfin, which analyzed Multiple Listing Service data across the top 50 US cities of homes that were owned by the same party for at least nine months before the sale.
States where homeowners were least likely to sell at a loss: San Diego, Boston, Providence, R.I., Kansas City, Mo., and Fort Lauderdale, Fla.
In each of these cities, only about 1% of homes sold for less than the seller originally paid, Redfin reported.
Redfin attributed San Francisco’s unfortunate housing stats to a sharp decline in home prices triggered by high mortgage rates, which climbed to their highest level since 2001 last month.
As of April, the city’s median home price was down over 13% year over year — triple the nationwide slowdown of 4.2% — swiping a whopping $60 billion in the total value of homes since last year.
In addition, home prices in the Bay Area fell because the metro area was hit hard by mass layoffs in the tech sector, Redfin said.
Major tech firms based in San Francisco like Apple, Google, Meta and Salesforce all conducted rounds of layoffs within the past year.
In one of the largest layoffs San Francisco saw in recent months, Meta sacked 21,000 employees as part of Mark Zuckerberg’s so-called “year of efficiency.”
Salesforce also axed some 7,000 staffers — 10% of its workforce — at the beginning of this year after rapid pandemic-era hiring left the company with “too many people” amid an economic slowdown.
And late last year, Elon Musk infamously slashed his staff at Twitter, now known as X, in half, handing nearly 4,000 workers pink slips.
The sentence of triple murderer Nicholas Prosper, who killed his family and was planning a school shooting in Luton, has been referred to the Court of Appeal.
The referral has been made under the Unduly Lenient Sentence scheme, the Attorney General’s Office said on Wednesday.
Prosper, 19, pleaded guilty to the murders of his mother, Juliana Falcon, 48, and his siblings, Kyle Prosper, 16, and 13-year-old Giselle Prosper, at Luton Crown Court in February.
Image: (L-R) Giselle Prosper, Juliana Falcon, and Kyle Prosper were found dead in their flat in Luton in September. Pic: Bedfordshire Police
Please use Chrome browser for a more accessible video player
0:44
Witness calls 999 after triple murder
Their bodies were found at their flat in the town in September last year.
He was sentenced to 49 years in prison in March.
Please use Chrome browser for a more accessible video player
0:30
Prosper sentenced to minimum 49 years
Passing sentence, High Court judge Mrs Justice Cheema-Grubb told Luton Crown Court that her duty to the public was met with the 49-year minimum term, rather than using “the sentence of last resort” and jailing him for the rest of his life.
Prosper, 19, who craved notoriety, planned to carry out a mass shooting at St Joseph’s Catholic Primary School, where he and his siblings had been pupils, he admitted to police.
Image: Luton triple murderer pretends wood plank is gun
Image: Nicholas Prosper seen buying a weapon on CCTV. Pic: Bedfordshire Police
The Solicitor General has referred Prosper’s sentence to the Court of Appeal, where “it will be argued that Prosper ought to have been given a whole life order,” a spokesman for the Attorney General’s Office said.
Defendants aged 18 to 20 have been liable to receive whole-life orders in exceptional circumstances since rules were changed in 2022.
But none of the orders imposed since then have been on criminals in that age bracket.
The judge said that for defendants over the age of 21, whole-life orders can be considered in cases involving two or more murders with a significant degree of premeditation or planning, or where one child is killed with similar pre-planning.
Mrs Justice Cheema-Grubb said: “The court may arrive at a whole-life order in the case of an 18 to 20-year-old only if it considers that the seriousness of the combination of offences is exceptionally high, even by the standard of offences which would normally result in a whole-life order.”
Image: Nicholas Prosper walking to the school on the morning of his planned attack. Pic: Bedfordshire Police
Image: Prosper obtained the shotgun by deception. Pic: Bedfordshire Police
She pointed to a joint submission of counsel that the lengthy finite term she imposed was severe enough because his case was not “of the utmost gravity where the sentence of last resort must be imposed on an offender who was 18 at the time and is 19 today”.
The risk he posed to the public was met with a life sentence, she said.
Justice Cheema-Grubb told the court she would not impose a whole-life order because Prosper was stopped from carrying out the school shooting, having murdered his family earlier than he intended after his mother woke up.
He also pleaded guilty as soon as the charges were put to him after psychiatric reports had been completed, and he was 18 at the time of his crimes, which is at the lowest end of the age bracket for whole-life terms.
The Unduly Lenient Sentence scheme allows any member of the public to ask for certain Crown Court sentences to be reviewed, and if necessary, the case will be referred to the Court of Appeal.
Image: Police officers finding a shotgun belonging to Nicholas Prosper.
Pic:Bedfordshire Police /PA
Conservative shadow justice minister Dr Kieran Mullan, who referred the sentence to the Attorney General’s Office under the scheme on the day Prosper was jailed, said at the time that not handing down a whole-life sentence “makes a mockery of the justice system and is an insult to the victims”.
At his trial, jurors heard Prosper, who was obsessed with violence and mass shootings, wanted to be known as “the world’s most famous school shooter of the 21st century”.
Police believe he killed his family when his mother confronted him after finding a shotgun he had bought using a fake certificate.
His scheme was eventually foiled by officers who spotted him in the street immediately after the murders and arrested him.
The loaded shotgun was found hidden in bushes nearby, along with more than 30 cartridges.
The World Professional Billiards and Snooker Association (WPBSA) announced last week that he had been suspended due to the case.
A spokesperson for WPBSA said: “Graeme Dott has been suspended by the WPBSA due to a case which is scheduled to be heard before the high court in Scotland.
“Whilst court proceedings are ongoing, it would be inappropriate for the WPBSA to make any further comment.”
Having turned professional in 1994, Dott has been a regular on the World Snooker Tour circuit.
He defeated Peter Ebdon when he won his World Championship title at the Crucible in Sheffield in 2006.
He also reached the final in both 2004, when he was beaten by Ronnie O’Sullivan, and 2010, losing out to Australian Neil Robertson.
The family of a man who committed murder during an escape from a secure mental health unit have told Sky News they were “failed” by the trust that was meant to be caring for him.
Joshua Carroll is currently waiting to be sentenced for the murder of Headley Thomas, known as Barry, after beating him to death in a park in Trafford, Manchester, in September 2022.
At the time of the attack, Joshua was in the care of Greater Manchester Mental Health Trust (GMMH). He was being treated as an inpatient at Park House, a unit which has now closed down.
Joshua’s mum and sister say he escaped from the unit 21 times – and they repeatedly complained to the trust and asked for help.
Image: Headley Thomas, who was known as Barry
Leanne Carroll, Joshua’s sister, told Sky News: “The night it happened, Joshua had come to my house. And it was just a normal ‘oh Joshua has escaped from hospital again’. Nothing appeared any different.”
She says they didn’t find out about what had happened until Joshua was arrested weeks later – and “everything fell apart from there”.
Image: Julie and Leanne Carroll
“My heart broke,” said Joshua’s mum, Julie Carroll. “It’s just a horrible, horrible situation.”
More on Manchester
Related Topics:
Joshua had been diagnosed with conditions including schizoaffective disorder, and had been in and out of inpatient care for around 15 years, his family said.
They showed me more than 20 pages of complaints and responses from GMMH about his repeated escapes, dating back eight years before the murder.
After Joshua’s fourth escape from Park House, his family asked for him to be moved to another unit, saying they were concerned about security.
This didn’t happen, with the trust citing capacity issues. His family complained once again about his escapes just five weeks before the murder, in August 2022.
“We are very, very angry and disappointed,” said Julie. “You think if your child is in hospital, and they are very poorly, that they are going to be looked after – they will be safe and they will be secure. But that wasn’t the case for Josh.”
Image: Julie Carroll says her “heart broke” after her son’s crime came to light
Although Joshua was convicted of murder, Leanne says his family hold GMMH partly responsible.
“If you had done your job properly – none of this would have happened,” she said. “Two families wouldn’t have been destroyed and so many hearts wouldn’t have been broken.”
Since 2022, GMMH has been served with several Section 29A warning notices by the Care Quality Commission. These are issued when the commission decides a service needs to make significant improvements, and there is a risk of harm.
In the case of GMMH, their concerns included “ward security systems not consistently keeping people safe”.
Dr John Mulligan is a clinical psychologist for GMMH, working in the community for the early intervention in psychosis service, and a representative for the union Unite.
Image: Dr John Mulligan
He and his colleagues have been going on strike repeatedly across the past seven months, saying they just don’t have the staffing levels they need to keep people safe.
“Thankfully, violent incidents among our service users are quite rare, they are much more likely to be the victims of violence and aggression,” he said. “But serious incidents are happening regularly. Far too regularly.
“It’s very upsetting for staff and for patients and families.”
Image: Joshua Carroll . Pic: Greater Manchester Police
Salli Midgley, chief nurse at the Greater Manchester Mental Health NHS Foundation Trust said: “On behalf of GMMH, we express our heartfelt condolences to Headley Thomas’s loved ones at this very sad time.
“Our thoughts and sympathies remain with everyone who has been affected by this most devastating incident. We are deeply sorry that it happened while Joshua Carroll was under our care.
“Under the trust’s new leadership, we have been working closely with NHS England, our commissioners and the CQC to create better, safer and well-led services for all.”
Image: The Carroll family asked for Joshua to be moved to a different unit after his escapes
She continued: “A huge amount of progress has already been made but we know we still have a lot to do to improve our services.
“As part of this work, we are currently carrying out an in-depth investigation into the care and treatment provided to Mr Carroll, and the circumstances leading to Mr Thomas’ death, the findings of which will be shared with NHS England.
“We are unable to comment further on this case whilst the investigation is ongoing.”
Barry Thomas’s family told Sky News mental health is a very serious issue – but they believe Joshua Carroll tried to “play down his actions”.
They said: “Let’s all remember that a life was taken. Our brother, father, and uncle. The evidence the police gathered was in plain sight for all to see.
“We, the family, would like to thank all the police involved for the work they have done, in bringing justice for Barry.”