Another set of data-points regarding the state of the housing market. https://wolfstreet.com/2018/12/03/bubble-trouble-silicon-valley-san-francisco-housing-markets/
Prices are already going down significantly. A few months ago, anything under $2M in Palo Alto for a SFR was unthinkable. Now there are a few. Any smart buyer is waiting for prices to go down further before jumping in
All of that is frankly irrelevant...so what? It will dip as it historically does and then come back and then dip only to come back up again. Thanks for sharing though.
Have you looked at any recent sales compared to what they were earlier this year? Data is the best way to find the truth...
Don’t bother trying to rationalize with onemarket. Isn’t belligerent so Denial is my guess.
The commons pattern in this thread is that anyone who bought a home recently is in denial that prices could ever go down, even though real estate always goes in cycles
Not true. Not true. House prices are going to go up. Since you don't have houses keep hoping prices fall so you can finally afford one. We are in a housing crisis. Too few houses and too many people. Say what you want and continue paying rent.
I actually own a home, which has already gone down in value 200k this year. In it for the long run, so doesn’t really matter...but can’t deny the facts
👏🏼👏🏼👏🏼 It’s your house. Who gives a fuck what happens year to year if you’re in it for 10 years plus? Same can be said about the stock market. It’s all paper gains/losses until you sell. Today I “lost” $45k (no exaggeration). I’ve also “made” over a million. I’m cheering the market all the way down so I can buy more. Long term it’s all but guaranteed to go up. Thanks for the relational response HPE.
Which city ?
i hope you are right coz i’m looking to buy😂
I’m seeing more desperate sellers now, a lot of price reductions even in hot areas like Palo Alto and Mountain View
Moderate areas are still experiencing growth.
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I still cannot afford it
Same here