When recession hits -
Would the sought after west bay: Menlo park, San Carlos, Redwood city etc houses drop in price? They are no less than 1.8M $$$. Should I wait till recession hits, or shut up and buy in east bay today?
cheapest is to get job at Google, and then live in the office www.independent.co.uk/life-style/gadgets-and-tech/google-employee-lives-in-truck-parking-lot-saves-income-a7440986.html%3famp
I am not sure if Google still allows to do that
When recession hits you lose money too, unless you have all cash
East bay has a way better quality of living. Move to pleasant hill or Walnut Creek near Bart and get a job in SF
Except for the commute....
Bart is ok during work hours.
Yes it will burst and all you Ph.D Economist-turned SDEs will get to buy your dream house for $1.
When will recession hits, no one knows. The costly real estate has been here in the bay as long as I can remember. If you plan to stay in Bay Area, you should just buy.
Last recession prices dropped some 15%. Only east bay had a significant drop. I wouldn’t hold my breath. As others said, you need to be in cash to take advantage.
Classic investor vs homeowner !
You don't seem to understand recessions. Regardless save more and buy into he area you want.
Recession is when your company is laying off people by the thousands every few months, there are no bonuses and RSUs lost 80% of the value. Noone is hiring and many of your friends are unemployed. Even if you still have your job, the idea to invest in a 1.5M house (down from 1.8M) sounds absolutely crazy.
Haha no. Don't confuse the millenials. A recession is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. In short a recession is when you buy as much as you can (real estate, stocks, businesses) at a discount. Your friends may say it's crazy to buy anything but that's how you go from moderately rich to really rich :)
Yes wait
In any case, do the "shut up" part of your proposal.
Why?
Because this is essentially real estate speculation. But the real reason is that you didn't give your TC/YOE.