Redfin sees Bay Area housing market slowing fastest in the US
Wow! A few months ago no one could see this coming! https://www.google.com/amp/s/www.marketwatch.com/amp/story/redfin-seeing-san-francisco-bay-area-housing-market-slowing-fastest-in-the-us-2022-07-08 https://investors.redfin.com/news-events/press-releases/detail/752/redfin-reports-bay-area-housing-market-is-cooling-more #bayarea #housing #mortgage
MarketWatch
I am waiting to see the responses from folks who said Bay area won't go down
They’ll say instead “if you hold for decades it won’t matter”
And they'll be right
Reported for false info
How is an official article from redfin website (see the second link) false info? Sounds like you are one of those people who bought a home recently and are scared of the reality change and more people becoming aware of that :)
Good
The sad part of all this FOMO is the compromise they made in their house purchase by getting subpar house. Now they will spend more on upgrade costs and property taxes too. And if they banked on RSU income to pay some of these ultra high property taxes that will hurt too. Sad. What happened was just stupidity.
I bought fairly recently and would love prices to stabilize so it would be possible to upgrade a few years later. It won’t be easy if we’ll see another 20% rise in the next five years. Bay Area is the most affected due to recession fears and tech stocks drop though, which is temporarily.
This
Bay Area real estate is just more volatile than elsewhere in the US. It goes up more and crashes faster too
What do you mean no one could see this? I have been saying it for a long time. UWOM24 said it first. Here is a post from January! "Bay Area housing market crash (Investments & Money)" https://us.teamblind.com/s/RWJAiXLE
Check out this post! "UWOM24 (Investments & Money)" https://us.teamblind.com/s/SiyknjbU
@UWOM, you have been saying this for a long time, but what action are you taking that can benefit you. Just sitting around yelling “crash is coming” does not benefit you
I am trying to benefit you. I rent.
I don’t know how you benefit me by renting. For that matter, you don’t benefit by renting either. At least, you should try to buy in the next couple of years when home prices drop
Good. Prices are insane. Folks who started career after 2019 can barely afford house.
Yes, the idiots who want house prices to moon don't realize that their children will need to buy houses too
They can live parents place bro