Bay Area housing market

PayPal
wow points

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wow points
Mar 8 59 Comments

Will Bay Area home prices ever come down? Last year houses were appreciated by 19% mainly due to low interest rates, stock prices were ATH, IPOs, crypto surge.

Now with the stock market down, Russia-Ukraine war uncertainty, ATH inflation, rate hikes do you think the housing market will slow down?? Will ppl stop bidding 200k more on top of the valuation?? Will the housing demand supply issue out weight all the above anomalies??

I was looking for a SFH but have to put the search on hold due to the PayPal stock crash. Am I the only one thinking this home prices can't last long?

Edit: Need to factor in ppl moving out of bay area. Pandemic has shown ppl can work remotely. Many startups are going remote to save cost.

TC: 🥜

#housing #tech #investments #bayarea

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  • Google
    notswe

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    notswe
    It is going to go down. The median house prices at this time is way too high and cannot sustain this for a long time as the stocks won’t appreciate much in the next year and the inflation rate at 10%. If the inflation continues for a couple of months then the Job market will take a hit as it wouldn’t be possible for small comp companies to pay many employees. People will reduce expenditures on leisure stuffs which will cause a decline and loss in those areas. We just touched the tip of the iceberg. People will realize the effect in the months to come.
    Mar 8 9
  • Meta
    public2

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    public2
    200k is a rounding error when the money is free. Once interest rate exceed inflation the appreciation will slow.
    Mar 8 18
  • Google
    ajakwj

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    ajakwj
    Everyone waiting for everyone else to leave so that they can buy. Everyone waiting for the dip and when it dips, everyone says oh no, it’s dipping I cannot buy. There, I solved your puzzle.
    Mar 9 3
    • op:
      my friend made an offer last week in Los Alto for an 3.5 million dollar home. he was surprised that his offer got accepted and only 5 offer in that house.

      he then withdraw the offer afraid that he may sit in the peak of the market
      Mar 11
    • PayPal
      wow points

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      wow points
      OP
      Oh I also see a few new construction homes back on the market. Builder is having a tough time selling it. He is ready to sell at the asking price without any bidding and still not getting any buyer. Builder is asking for a 2.35M for a 2400 sq ft area and 6078 sq ft lot size in the east bay.
      Mar 12
  • New
    AholeBarua

    New

    AholeBarua
    Wait until April May to know for sure if market correction discourages people from bidding up. Also sellers panic may start. Based on the number of posts on blind, there are lot of exhausted buyers. Though they are on sidelines to buy, stock market crash will make them wait and see until prices cool off by 10-20%. If not, just rent and save and move to another city.
    Mar 8 0
  • Google
    cBoT27

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    cBoT27
    200k? People bid $3M for a $2M asking price.
    Mar 8 2