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

REX HAVOC

Well-Known Member
From CNN Business' Paul R. La Monica



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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Grand Lake

Well-Known Member
Don't know what I hate more, nouveau riche techies or real estate salesmen having circle jerks over how much they fantasize they're going to make off the nouveau riche techies.
 

Okphillip

Well-Known Member
Don't they actually have to sell their shares though to have liquid cash? And there may be some limitations as to how many they can sell I don't know. Either way the drivers are the suckers financing this. They are buying mansions while 1/2 the drivers can barely buy a cup-o'-coffee.
 

2020KING

New Member
pretty sure they cant sell it till a certain date but who knows these days hope they all choke on it or buy a home with it that gets home invaded where everyon home gets raped & murdered or they buy a bentley & they crash it off the golden gate bridge, or they go on a vacation & get ate by sharks, or throw a big party to celebrate & a meteor hits it or they all get cancer


i kid i kid
 

JLaw1719

Well-Known Member
pretty sure they cant sell it till a certain date but who knows these days hope they all choke on it or buy a home with it that gets home invaded where everyon home gets raped & murdered or they buy a bentley & they crash it off the golden gate bridge, or they go on a vacation & get ate by sharks, or throw a big party to celebrate & a meteor hits it or they all get cancer


i kid i kid

Finally a new member who has clearly driven.
 

DollarFree

Well-Known Member
The big winners have to hold on to their stock for 180 days.
This is who:

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From CNN Business' Paul R. La Monica



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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U can just see on their faces the joy that all those hours of screwing over the drivers was worth it.
 

warsaw

Well-Known Member
From CNN Business' Paul R. La Monica



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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This is total BS, because the big winners are the top executives and early investors. Most of these people already have very nice houses and/or mansions. The regular employees who're lucky to get a million or two, will have a hard time buying in SF, where the average house is already 1.37 million and may decide to look at cheaper locations, where they can buy a nice house for half the price and two times bigger.
Then, they would still have enough money to spend, save, and enjoy life away from SF and the Bay Area.
 

REX HAVOC

Well-Known Member
This is total BS, because the big winners are the top executives and early investors. Most of these people already have very nice houses and/or mansions. The regular employees who're lucky to get a million or two, will have a hard time buying in SF, where the average house is already 1.37 million and may decide to look at cheaper locations, where they can buy a nice house for half the price and two times bigger.
Then, they would still have enough money to spend, save, and enjoy life away from SF and the Bay Area.
Waah! I'll shed a tear for them.:cryin:
 
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