Not another post to show frustration on the insane cost of house ownership in the Bay - perhaps that always make others outside the Valley happier.
When I lately check housing inventories in several neighborhoods I find there are not many listings appeared, even for $1.5-2.0m range. In some cases tried the max up to $2.5m for 4-beds single-home. The areas I was looking at: Milpitas, Fremont, Cupertino, Saratoga, Campbell, Sunnyvale, Santa Clara etc. What are some possible reasons for such low inventories? I’m not questioning why the quality of even a $2m+ home looks so mediocre!
(Not desperate buying just right now; but just exploring to check how the market looks like)
- Apple laksjhsheThey will never go down and there is huge demand! Just buy anything if it comes to market.
- I read that all the old people (boomers) are going to downsize and/or move to retirement homes soon, so the housing market will soon have a glut of supply and drive down prices.
I’m not holding my breath, but I’m crossing my fingers.
- Since the market is down, home owners do not want to put their homes in market right now. They would rather wait and see if it rebounds. Fed rate changes can affect that.
- Microsoft y83jBecause home owners know market has cooled down a bit and it’s temporary, so why sell?
- I guess this means we have hit the peak. 400k a year is too poor to afford the Bay Area.
- Google 1234-/:;(Because everyone here wants a stand alone house. All those idiots who preach building more density are the same ones who only want and will consider owning a house.
- Facebook / Engfb2017moreUnion City on the north of Ardenwood is a pretty good place. You can buy decend 4b house with 1.3m, and it is pretty convenient to fb as just a bridge. But the schools are not as good.
- Intel orientBecause we the people will not let build apartments with tens of floors. We like residential neighborhoods not industrial junk buildings around.