Wealthy San Francisco Neighborhood Loses Private Street
After a series of $14 tax bills went unnoticed, San Francisco auctioned Presidio Terrace off to the highest bidder — a couple from San Jose. They're thinking of charging residents to park there.
RACHEL MARTIN, HOST:
Good morning. I'm Rachel Martin. Real estate in San Francisco is a cutthroat game. Every square inch is worth something - in this case, even the streets and sidewalks. Because of an unpaid tax bill, the city allowed one couple to buy Presidio Terrace. This is a private street in an upscale neighborhood. They bought it for $90,000. To make the investment pay off, the couple may charge residents to park on the street, which isn't going over so well - probably nothing a good block party can't fix. It's MORNING EDITION.
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