https://www.bloomberg.com/news/articles/2018-01-22/housing-bears-hibernate-as-u-s-homebuilders-swagger-into-2018 Thoughts? Discuss.
It will but no one knows when. Do not try to time the market. Chase and pay the price or rent !
There's this thing about supply and demand. Also one more concept of people's total comp. If you see folks in blind, Average total comp for a household is 400k. In this scenario, do 1M houses seem so unreasonable? Comps have increased like crazy, we have uber, dropbox, airbnb, lyft to go into ipo. Try to factor all this in.
1M ? Looks like you are taking about condos ? Median price for SFH in Santa Clara county has crossed 1.2 M
And yes the people living there have TC of 500+, so it just adds up. Don't start giving me an example of palo alto where the median price is 4M
Read this: https://metropolistgroup.com/housing-bubble-parts/
People aren't as levered as they were back in 2006. California, New York, Connecticut and New Jersey will see headwinds over the next few years due to the recent tax changes though. CT being most at risk for price declines.
On a public forum like this - home owners will always say market will keep going up forever (new buyers are particularly anxious and you can guess it from their tone ) and renters or those who missed the boat will always say otherwise. :) same story for every blind post on housing :)
guilty as charged. ✋
I don't own a home but believe it's not in a bubble
The rich people that can afford their homes and have savings didn't cause the crash, it's people who over leveraged with predatory loan practices who caused the crash and then the banks over leveraging those bad loans.
US market is very different than the bay area market. I know people who made 100% on real estate investments in Florida/Alabama/Georgia in under five years, that's bubbly considering wages over there haven't risen much. Tech comp in the bay area increased with the housing prices, so a US crash might hardly dent the bay.
Gotta laugh at people who think a drop in housing prices can ONLY be coz of the reasons it happened last time (sub prime mortgage ). Have you all not heard of - it’s different this time :)
If tech ipo market remains as horrible as it is now, there will be a housing decline for sure in the bay
2024 Presidential Election
Yesterday
1537
If you vote for Biden this year, don't complain about layoffs
Tech Industry
Yesterday
1785
What is the appeal to NVIDIA?
Tech Industry
3d
13810
Elon did it for this reason...
Software Engineering Career
Yesterday
2617
28 terrorist worshipping idiots just got themselves fired and I've never been prouder to work at Google.
Tech Industry
Yesterday
9396
Goog Employees Arrested
We all wish
No.
Yes.