People save hard to be able to afford homes. It is bad zoning laws causing under supply. When there is one home for every 5 people it will cause prices to go up. But most folks work hard to be able to afford it. No one buys homes like groceries. If you are able to then why donāt you buy
Yes buy now!
Because this time itās different.
I don't think people buy home like grocery. I have e seen most of the people being very diligent about the budget and affordability. I think for a family, there are lot of feeling behind home purchase. Maybe you could be little more respectful and try to do your own research if you could afford.
Get in.. this is the best time. House prices will see 40%increase..
Nope, more like 48%.
You meant -40%?
San Francisco has been a ācrazyā housing market since 1860. Look it up. The historical trend in SF is clear.
If u are asking here, i can tell u that u wont get in.
āThereās only one way housing prices go and thatās up. No way this market will crash.ā
Yes. Housing market will never crash as long as FANGs are doing well. They are the only ones who can afford to buy home in Bay Area
While it would suck to see the value of my house go down, itās almost an universal rule throughout history - anything that goes up quickly also tends to come down quickly.
Thatās partly because the purchasing power of the dollar has gone down. Even if the asset retains the same āintrinsic valueā, in dollar terms it will go up because dollar has been losing purchasing power for decides now. You also have to account for property taxes, mortgage interest, repairs etc. When you calculate the true cost youāll realize that housing is not that great an investment except in the run up to 2008 bubble and 2012-Now. The emotional value is a whole different argument though.
Law of nature: one that goes up fast, falls down faster! (Seems true for short to med term)
That's false when looking at historical real estate prices in large desirable cities like SF. Even though the last couple global economical crisis (all of them since the 80s), real estate prices in SF have never dropped more than they have appreciated during the closest previous appreciation cycle. Even during the 2008 crisis, which is by far the crisis that had the biggest impact on real estate compared to all the previous crisis, house prices in SF only dropped around 27%, compared to the 60% appreciation they enjoyed during the 5 preceding years.
Bay Area isnāt only SF
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