In a major city like SF? Will never happen. That's the price for a 2-bed in a mid-west city with excess supply, super cheap labor and materials costs, limited permitting, etc.

I could never see a $1200 2-bed in SF ever coving the costs of construction.

Yes, that’s the price in cities that haven’t fucking failed to address housing issues. The building materials are not meaningfully different in costs and labor isn’t that much worse (not nearly enough to justify 100% difference).

There is nothing magical about the bay compared to Indianapolis that means I can’t find a 2 br apartment anywhere on the outskirts of even San Jose for a similar price. The only difference is the overbearing NIMBY crowd protecting their own investments in their homes.

Nah.... those are cities that have built a lot and have little demand.

Yes, building materials are more and labor is probably double (I have friends who just did renovations in SF).

So sure, $3,500 is way too much for a 2-bed, but no, even if you built a ton of new housing you’re not getting a 2-bed for $1,200 in SF.