I'm so glad Microsoft is in Seattle... But I have many ties to the Bae Area (lolol!) and have always looked upon the housing situation there with ravenous passion. Remember Patrick.Net anyone? Rewind to 2000. Silicon Valley is out of control on fire! Electronica is starting to happen at the Limelight in downtown Mountain View. It's a big money party and 9/11 hadn't changed the world yet. The tech bubble popped. Housing however stayed afloat, because banks loosened their lending practices. Free money for everyone!!! Interest rates had to go to zero to keep things afloat. What do we have now? A record high Dow, interest rates at zero and vc capital is tightening. If there's a tech downturn today, nothing will support the Bae Area housing market. Interest rates are already at zero. There will be foreclosures madness as soon as people start losing their jobs. Tech can bounce back quickly, but will it do so before it barfs you out? In my opinion we are at a local maximum.
if people stopped buying prices would go down...
If nobody wanted to buy and everybody wanted to rent, I'd just buy and cover my mortgage by renting to you at way higher. So no.
Chinese investors will support the Bay Area market
classic MSFT FUD! This is pure peanut butter...
lol
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This could also happen in Seattle you think?
Not gonna happen in sea imo. Sea will get affected a bit but the influx of engineers isnt stopping for amzn.. + all those pplmoving from socal / bay area to sea
well... Seattle is super hot, but it hasn't gone completely lolol like the Bae