the bulls kept stating that the drop in prices are seasonal, and kept stating that the interesting number should be YOY appreciation. Now the YOY numbers state that 4 Bay Area counties are depreciating asset. These include Santa Clara and San Francisco counties 😂 The houses in Santa Clara and San Francisco counties sold for lesser prices in NOV2018 compared to NOV2017.
That's fine, I bought in 2012.
A single year unfortunately does not make for a statistically significant definition. But since I don’t want to live based on statistics alone it seems that you are quite correct.
So now the goal post again changes for the bulls. When prices were dropping MOM then the argument was that YOY is the golden number. Now that YOY has turned negative then the argument is that it needs to be seen over several years 😂
I'm not sure whom you're talking about. I've always been skeptical of homeownership and only purchased after getting married, having a kid, and realizing I'd be staying put for at least ten years.
This makes the most sense. It seems most people don’t realize that a first home is rarely a strategic financial investment. It’s an emotional purchase. This does not make it a poor choice.
I'll just leave this here
Past performance is not always indicative of future performance.
Yeah well this is 32 years worth of data so are you trying to say a data point of one year is better?
It’s hopeless trying to argue with the housing bulls here. According to them, the average South Bay home will be worth $10m in the next decade 😁
Homeownership as an investment is a bit weird. It's illiquid, not diversified, and highly leveraged. But it will fix housing costs and give you a place to raise a family. If it weren't for that I'd just buy Admiral shares of Vanguard index funds. #bogleheadsuperstar
The leverage is what makes it great.
OP doesn't understand depreciation and the real estate market, so just tc/gtfo
Shit’s overpriced and overvalued. This is not surprising.
And so are the stocks then?
If it goes down enough, op may be able to afford something.
The people who bought houses in the SF Bay (or Seattle, or DC, etc.) presumably did so to reap benefits that accrue over many years, not one.
The title is incorrect, don't be confused. Housing is appreciating more slowly, not depreciating. https://www.car.org/en/aboutus/mediacenter/newsreleases/2018releases/nov2018sales