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Iβm Sooo Happy about Biden signing TikTok ban bill today!!
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Heard congress distributing wealth
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Avoid teams with only Chinese or Indians especially with a Chinese/Indian manager
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Meta Stock Drop
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I havenβt done shit today!
Very depressing https://www.mercurynews.com/2019/07/26/bay-area-home-prices-sales-tumble/
Sales = number of houses sold. Prices are pretty flat or just down a bit.
Glad I waited then. π€
Just closed a house for 1.25m listed at 1.3m in Sunnyvale. With low interest rates and finally a buyers market I couldnβt wait to take the opportunity especially when I can afford it and need for long term
Agree. What rate you got and from which bank. Iβm in similar situation
2.75% bfa 7 yr arm
Good, homes are ridiculously expensive in the Bay Area it's disgusting.
Itβll be Detroit in our lifetime.
Detroiter here, fat chance on that one.
Same thing the Detroiter said about Detroit in 1960 (when it was the highest per capita income city in the US). Then Detroit turned into a shithole like SF is.
Nothing to panic about. Real estate is a long game. If you are in a good area with good schools and can stay put, the storm will pass. In my area prices only slightly dipped during the recession because itβs a desirable area with good schools.
I would like to know where in the US did prices 'only slightly dipped' during the recession. Almost everywhere in the US had dips of more than 20%.
Look around in the Bay Area. Some areas dipped ~10%, recovered and then were flat until ~2010. I live in such an area. Sadly wasnβt able to get in during that time.
My house in Seattle is down 15% from purchase price last year. In the long run it will probably be fine but itβs depressing to see it continue to go down every month. Seems like weβre about to see a repeat of huge price drops we saw from April to Dec last year.
everything else is good. Stock market is hitting all time high, no issues with job, interest rate is super low. Think when one of them goes bad specifically job market.
That is the concerning part. Everything else is great and house prices are still falling. Imagine what will happen if other economic factors start going down as well.
Prices are dropping because people are expecting a recession soon and fearful to make big investments. As far as housing is concerned, the current prices already reflect we are in recession.
I think thatβs part of it but not the whole story. I think the tax code changes have made a big impact. Itβs a lot more costly to have a big mortgage now because both your interest deduction and property tax deductions are capped.
That's true. Combined with Chinese money not flowing in
Just the start
πΏ