Looks like number of homes for sales piling up in Bay Area , redfin alerts are too many with price drops...today Redfin CEO mentioned significant slow down in recent weeks ( https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/5038160C-9C1F-11E8-A46C-BBDE1A6795F5 ) What do you think? Is it ok to buy now or wait and watch the fun?
i hope it tumbles down. the market is insane, not just in the bay area too
either.
There will be no crash. Perhaps a few years of negligible appreciation, but no crash.
We need more housing
I agree with you...but cities are road blocks they are not permitting enough...at least in Bay Area I am observing this
If you are buuying for the Long haul ~15 ish years, I think you should be fine. If it is a 3~4 year ride the market deal, I'd be careful.
No crash
Crash
A slow down is not a crash. Appreciation might and should return to normal levels. There's nothing to trigger a crash. Supply is still wildly constrained, unemployment is at a 2 decade low, and the market is near all time highs. Unless president cheeto gets us in a war with aliens or some other crazy blackswan it is unlikely we will see a correction. Rising rates will make it more expensive and reduce the number of buyers which will slow the panic buying. As always you cannot time the market, if you can afford to buy and plan to live there for several years it's always an ok time to buy.
Any co-orelation between tech stock correction and housing market slowdown? It seems that tech is going to come down tumbling and the crazy buying at least in the Bay Area would reduce. What do you think?
Why do you think that? It doesn't seem like tech stocks as a whole are crazily overvalued.
I think tech is over valued. Tech stocks are bound to take a hit over next year or so, which in turn will slow down the crazy overbidding in Bay Area. Now whether we will hv inventory or not is a different question.
Don’t buy now. It’s way higher than the peak of pre recession.
Problem is I already paid booking amount of 10k ...thinking how to take it back
I am on the same boat. Want to get out of contract that I signed with some new home construction