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North Bay: -40% South Bay: +40% https://www.newsweek.com/california-house-prices-plunge-40-percent-some-areas-1886763
I don't see that on redfin though. Everything seems to be up.
SF and Oakland
Only parts of SF and Oakland.
People throwing caution into the wind and paying well over asking price for a couple years will do this. We need a bigger correction still.
Did a bot write this article? It definitely wasn’t written by someone actually in the Bay Area. Or even someone with an understanding of how property taxes work in California. Also, Oakland is Easy Bay, not North Bay. And, the South Bay is still in Northern California.
It's just flight out of the blighted areas. Oakland and SF have deteriorated. The Peninsula and South Bay have not - in fact, there is more activity and life in places close to SF (like San Mateo) that used to be sleepy, and prices there have increased and stayed very strong, with no wave of selling. SF just needs to stop the blight. It's a beautiful city, but you can't let homeless people take over the streets or everybody with the dollars you need will run away. Oakland has always been a dump, people just thought it was gentrifying before the pandemic.
Don’t live in bay but article seems to cherry pick the worst house in oakland in terms of price reduction and make an article about it.
Yep. Sadly there won't be any major reductions in prices here while demand is so crazy strong
California is a state. Talk about tier 1 locations. Those cherry picked locations are low tier zip codes.
North Bay really is Novato and San Leandro and Petaluma I like these areas I understand as a Desi, I would stick out here But this is more like America
San Leandro is south of Oakland. How could it be North Bay. North Bay is Marin, Napa, Solano and Sonoma. Berkeley; El Cerrito and even Richmond are still considered East Bay!
1. Sell in south bay 2. Buy in north bay 3. Profit?