Let me preface today's Advantage by saying that I do have many friends who have been forced out of San Francisco post-layoff due to the cost of living here, so I am well aware of how pricey it can be to remain funemployed in The City by the Bay.
I, too, have made some major lifestyle changes due to my dramatic decrease in income.
However... According to Forbes Magazine, San Francisco only comes in at #18 on their list of America's Most Overpriced Cities.
(See a more SF-centric and light hearted take on the findings over at SFist.com.)
So when it comes to the #1 rule in real estate, Location Location Location:
Advantage: San Francisco Funemployed