If a major earthquake were to hit San Francisco, causing significant damage to infrastructure and residential areas, what impact do you think this would have on the Bay Area housing market? Specifically, how might property values, rental rates, and overall market stability be affected in the aftermath of such an event? P.S: Always be prepared!
Prices go down
lol if you’re still alive after prices will likely tank for a while. Although in SF they have been dropping as is because no one wants to live in that shit hole.
Big corps would scoop up those properties at steep discounts.
Unless liquefaction takes over the bay, nothing major will happen
Supply vs Demand. Prices will go up further
In Bay Area, it’s the land which is more valuable than structure. Most houses in Bay Area are 50+ years old and the structures are past their life. So an earthquake will clear space for massive rebuilding and multi million dollar homes will pop up over old houses.
As a Japanese I’m really shock when people are serious about not buying houses because of earthquake.
An American house will fall apart like paper in the event of an earthquake. I can't imagine building codes being very strict about it. In Japan people actually care about quality and have to prepare for it. And isn't housing in Japan a depreciating asset anyway?
Seems like someone is streaming San Andreas movie on Fri night
My guess is a quake big enough to play a role plays the role by damaging lots of buildings and making them uninhabitable. A mag 8 might make 20 or 30% of buildings need to be rebuilt before people can live in them. The housing crunch would go through to roof, so to speak. If you have one of the houses that did not get seriously damaged its value would shoot way up.
price go up
Nobody will want to buy your asbestos shack after everyone else rebuilds newer.
correct. construction cost after a big one will be enormous due to labor demand. this will drive reconstruction cost through the roof as well as the constrained undamaged housing now being in even shorter supply.