Here’s the story of a fixer upper in a decent neighborhood. It hits the market for $895,000. A couple weeks later, it sells for $1.4 million. If you’re from somewhere else, both the numbers in that story seem crazy. If you’re from San Francisco, it’s a cliche. Nick Bilton describes the scene where a housing market has nowhere to go but up.

+ The income gap is one of the important stories of this era, and that gap is growing faster in S.F. than in any city in the nation.