Bay Area trend

NVIDIA / Eng
TC=500k

Go to company page NVIDIA Eng

 TC=500k
Aug 26, 2021 45 Comments

The market is now definitely cooling down.
Especially in Fremont and East Bay area.

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 TOP 45 Comments
  • Reddit
    23popql

    Go to company page Reddit

    23popql
    Good those areas are shitholes nobody should pay that much to live there
    Aug 26, 2021 6
  • Google
    reventurec

    Go to company page Google

    reventurec
    Here are the real observations:

    - There is a significant outward migration since 2020 from the Bay (salary weighted), specially since remote has become a big part of the tech industry.

    - New employees prefer to stay in their respective states and get a pay cut (my stat. sig. observations from interviews)

    - Prices in many places in the Bay already dropped back to 2017 EOY https://www.zillow.com/homedetails/520-Pine-Wood-Ct-Los-Gatos-CA-95032/19667269_zpid/ , https://www.zillow.com/homedetails/4130-Williams-Rd-San-Jose-CA-95117/19604344_zpid/ and many disillusionzed folks are selling within a couple of month with a loss.

    - Wildfires are becoming more and more real. 3 biggest California wildfires happened in the last 4 years. One month a year the choking smoke covers the Bay (specially in the late summer early fall when people would like to rest and relax). Thus the weather is not much a thing in the Bay anymore.

    - There are many hubs popping up with a more relaxed culture who are also immigrant friendly, let's say RTP, DC, Nashville, etc. Thus the immigrant friendliness is not the California thing anymore.

    So to sum up. Though California is great and I personally love it, I dont think the prices are justified anymore. There will be a 10-15% correction in the short term and a long flat trade in the future.
    Aug 27, 2021 7
    • Intel
      lovelypear

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      lovelypear
      Such a misleading post lol
      Aug 27, 2021
    • Reddit
      23popql

      Go to company page Reddit

      23popql
      Wildfires are irrelevant bec they will stop in a few years (everything will be burned sadly).
      Agree on net migration outside the Bay.

      Still huge misbalance between supply and demand, and net migration doesn't make up for it.
      You forgot a bunch of factors that work in favor of Bay Area prices like inflation, buying from international and funds, school quality, job availability, salary levels etc etc.
      Aug 27, 2021
  • Verizon
    Verizon...

    Go to company page Verizon

    Verizon...
    I watched a burned out house in my neighborhood sell in 5 days with 8 offers. Listed at $850k. Sold for a million. Doesn’t feel too cool here
    Aug 26, 2021 4
    • Verizon
      Verizon...

      Go to company page Verizon

      Verizon...
      By my standards are fairly
      Big. Little under 1400sq ft
      Aug 26, 2021
    • New
      sunscreen1

      New

      sunscreen1
      This. A million for a burned-out shell of a house and a hot neighborhood over the first hills so you don't even get the cool breeze from the bay.
      Aug 27, 2021
  • Disney
    yuyiming

    Go to company page Disney

    yuyiming
    Lol nvidia context please
    Aug 26, 2021 0
  • New
    WleF18

    New

    WleF18
    Don't panic buy. Homes prices will cool off and come down if new buyers don't bid up as if it's the end of everything. Don't get emotional and bid up prices. Now that I have uttered the unspeakable, I must now ready myself to face the ire of home owners, especially recent ones.
    Aug 26, 2021 2