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Explain the housing rush

Visa / Eng jingggyang

Jul 30, 2021 35 Comments

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Can someone explain me why there is mad rush to buy house right now , even though SFH prices seems to be all time high ? Or this is always been like this in past summers ?

PS : I am referring to bay area, could be true for other cities as well

One reason could be lower interest rates but isn’t that negated by rising housing prices

Aggregated Opinion
1) Stock Appreciation
2) WFH

#mortgage #housing #sanfrancisco

3 35

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TOP 35 Comments

Apple s3xynotch

Fomo. Thinking is that if you don’t buy now, it may be 3M next year, then you will never be able to buy. But reality is that all abnormality goes back to the mean and price will correct in couple of months

Jul 30, 2021 8 3
- Apple xfNB56
  
  Wishful thinking s3xynotch. Goes up 30%, corrects 5%, still going to leave people behind.
  
  Jul 30, 2021 7
- Apple s3xynotch
  
  Buying at 25% is still better than buying at 30% which is where we are at now
  
  Jul 30, 2021 0
NVIDIA xGracex

WFH

Jul 30, 2021 8 3
- Amazon ybctb
  
  Buying house usually means moving out of city. And in pre-covid world that would mean longer commute. Also wfh demands more space (office set up potentially for two people). Financially it makes more sense to buy a house rather than moving to a bigger rented apartment.
  
  Jul 30, 2021 8
- Apple xfNB56
  
  This exactly ☝️
  
  Jul 30, 2021 0
Fanatics headdown

Supply and demand. Lots of millennials starting to enter the real estate market, no many boomers selling houses, wanting to age in place. Restrictive zoning and NIMBY policies drive up the cost of construction along with materials and labor means not enough new houses coming to market. Blackrock and Wall Street buying homes…… so yeah. Lots of Demand, not enough supply.

Jul 30, 2021 10 3
- Fanatics headdown
  
  I’m referring to millennials as a cohort. As a percentage of home owners, they are relatively low when compared to Gen X and Boomers. Plus they are a larger cohort than Gen X, so when they start to enter the market, yeah….. lots of people.
  
  Jul 30, 2021 0
- Fanatics headdown
  
  This may help
  
  https://www.google.com/amp/s/www.washingtonpost.com/realestate/millennials-now-represent-the-largest-cohort-of-home-buyers-heres-what-they-are-looking-for/2019/12/11/99e0e386-eeb9-11e9-89eb-ec56cd414732_story.html%3foutputType=amp
  
  Jul 30, 2021 1
Sift MLBoi

Historically low interest rates, WFH, Fomo, stock appreciation that seems over inflated and like a bubble, housing market hasn’t seen an increase since the 2008 crash so it’s just now following the linear growth trend, and a whole generation ready to have children and start a family.

Jul 30, 2021 11 0
Rubrik Iwbcjshx

People make money from stock appreciation and ipo.

Jul 30, 2021 9 0

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Explain the housing rush

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