Bay Area home sales log biggest price drops in the nation
“Some buyers are canceling their contracts or bowing out of their home search because they work in tech and they’re worried about losing their jobs,” said Bay Area Redfin manager Shelley Rocha in a statement. “The surge in tech layoffs was already causing jitters, and now the bank failures are adding to buyers’ nerves.” #mortgage #housing #sanfrancisco https://therealdeal.com/sanfrancisco/2023/03/17/bay-area-home-sales-log-biggest-price-drops-in-the-nation/
Let me know where it’s the same price or cheaper than renting to own.
Never
This is the question to ask. In seattle the house that I bought in 2019 for $670K yields $3800/month in rent with $2800 mortgage + property tax. It was no brained to buy. Now I moved to Bay Area and paying $3500 for an home that costs $1.45M to buy. Makes zero sense to buy. This high ratio mortgage leverage locks us in with very mortgage payments. I value freedom more than anything else at this point. I have friends who cannot downgrade from high salary because of their mortgage commitment. You have become a slave at this point.
So now you can get a 1500 sqft 3 bedroom 60s sfh for $1.8m instead of $2.0m 🤣
Seriously. Don't understand the news hysteria. It's still unaffordable for people who previously could not afford
Every single article I've seen in the past month has been just clickbait... They only talk about YoY drop comparing when interest rates were 2% instead of 6. No shit sherlock. No one talks about recent housing activity, or the actual increased unaffordability in monthlies 🤔
$200k less on a $2 Million Dollar House. Big deal
Just a drop in the bucket. Gonna sit and wait for foreclosures…counting…
That’s not happening anytime soon
By that time interest rates will drop n boom
Still crazy overbidding in Cupertino school district on subpar houses https://redf.in/zmMbVm
This is very recent news. The house above is closed a month ago
That's what all of these articles don't get. They're working with old housing data. Also, they keep metioning YoY drop. No shit sherlock. Of course housing prices fell compared to when rates were 2%....
Multiple houses getting 600k+ bids in recent closings
Redfin Links?
Still buying like there's no tomorrow. Slow downs are only in bad locations. Any location that's considered desirable is still selling like hot cakes at record prices. Remember folks always buy the best location you can afford.
Fremont houses going 300k above asking
Cambrian is on 🔥🔥