# Lyft employees could buy every house on the market in San Francisco with their IPO cash



## Hugh G (Sep 22, 2016)

*Lyft employees could buy every house on the market in San Francisco with their IPO cash*
From CNN Business' Paul R. La Monica

" https://edition.cnn.com/business/live-news/lyft-ipo-stock/index.html "










Here's one way for Lyft employees to celebrate the company's IPO: They could go out and buy some pricey Bay Area homes. A lot of them.

In fact, online real estate brokerage firm Redfin estimates that the shares and stock options held by *Lyft* (LYFT) employees are now worth a total of $1.3 billion.

That's enough to *buy all 624 houses in the city of San Francisco currently on the market* and still have $300 million left over.

(Maybe the new Lyft millionaires could all buy season tickets for the Golden State Warriors too? Or sign Warriors stars Kevin Durant, Klay Thompson and Draymond Green to contract extensions?)

*Redfin* (RDFN) CEO Glenn Kelman told CNN Business he does not expect Lyft employees to go on a property buying binge right away. But he noted that housing prices in the Bay Area were stronger than he expected after the *Facebook* (FB) and *Twitter* (TWTR) IPOs.

And even though there are reports that housing prices for parts of the Bay Area are starting to dip, Kelman said home values in San Francisco are still "breaking the law of physics."

*Income from stock sales of tech companies is distorting the market in San Francisco," he said.








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## mbd (Aug 27, 2018)

Vallery and another Obama friend on the insider team


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## oldfart (Dec 22, 2017)

I had a passenger in my car today from San Francisco. He told me he is closing on a new home costing $1500/ sq.ff. 

He said it was crazy but he knows he won’t loae any money because lyft and Uber will create 30000 new millionaires


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## mbd (Aug 27, 2018)

Seattle is getting the same way
Part of the problem is the shortage of tech geeks and shortage of space...SF is only 49 sq miles...simple supply and demand... companies will pay $$$$
Techies move in, and they got cash.


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## Grumpy Old Man (Jul 7, 2018)

Hugh G said:


> Lyft employees could buy every house on the market in San Francisco with their IPO cash


Well bugger me, who would have thought that Lyft was so generous to their employees?


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