Housing fell almost 15% down this year in some critical pockets of Bay Area. Expect to fall further within next 6 months?
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- Lyft / EngJSBG53Housing prices dropped 15%? Citation please. From where I'm sitting I haven't noticed.
- Citation is Redfin. Don't want to list properties here. But most of Santa Clara county which I am looking at have seen at least 6 houses listing prices drop by ~100k within this year. Probably because they were inflated way too much before, as we all know, as most valley houses have been in recent times.
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- Yes. Every news article about price drops and high % increase in inventory is complete fake news. :)
- I disagree with your premise. Appreciation absolutely slowed in many areas but where did it drop 15%? Most of the peninsula is up 10% this year (per redfin)
- It also depends on when the next IPO happens. If the Uber or Airbnb IPOs happen before the stock market goes tits up, then there will suddenly be a people flush with cash wanting to buy.
- Amazon / ProductQordukaHousing is slowing down globally especially in bigger cities. SF, NYC, London, Hong Kong, Sydney, etc. It was being propped up by wealthy foreign investment from China and Russia.
- It'll just stop increasing in desirable locations, just like Mountain View and Palo Alto house prices did in 2008-2012. If you're in more distressed locations, it'll likely decrease a bit. EPA house prices decreased during the last recession but are up since then and higher than the pre recession peak.
- Microsoft / EngSenoritaWEFor those who already own, are you thinking about upgrading? It’s hard to give up our 3% interest rate!
- LinkedIn GreydayzIf it actually goes down I’ll feel sad for people who become underwater. Renting ftw
- Square / EngSQSmall sample size. Just because properties dropped their prices doesn't mean that values are dropping. People got greedy and were pricing way too high before because everything was selling. Things priced correctly aren't having price drops.