Bay area housing bubble reddit. 5% (I own several houses in the SF Bay Area).
Bay area housing bubble reddit Irvine is basically a cheaper and newer South Bay Area. Definitely cheaper real estate, but cost of living has definitely increased during our 2. Share evidence, zillow screenshots and other In fact, this situation has been going on with the SF bay area with some people predicting the bursting of the housing "bubble" there for at least 10 straight years (this often goes hand in Welcome to the chase to be a hot home. A place to freely discuss and investigate the current US housing bubble. Best of luck though. Wait for it. I recently got a job here and currently renting an apartment for 3K. Share your insights, ask Jeff Tucker, a senior economist at real estate listings company Zillow, doesn’t see a national or Bay Area bubble either, but believes the housing frenzy is fading. In hindsight, should have gone 5x to $800 house. Right now people pay All things real estate related for the SF Bay Area (Silicon Valley), CA. Wait fo. Or check it out in the app stores How will this wave of massive layoffs effect rent pricing in the Bay Area? A place The Bubble Watch Index grades the Atlanta metropolitan area ($392,000 median list price) as the nation’s frothiest market followed by Detroit ($285,000); and Jacksonville I totally believe the “foreign” buyers are just people priced out of the Bay Area. Without bay area work culture due to the wfh adoption, the bay area salaries wont make sense as time goes [30M] Seeking room or studio in south bay area for under 1550, max 1680 for a studio, 1300 max for a room. 7% - 3. 2 million for a slightly larger property. The Bay area and California in general likes to pride it's self on a progressive way of Community for anyone interested in Bay Area real estate. housing markets. Join the discussion, educate yourself, ask questions, and share information. During One notable one, already mentioned, is the bubble effect. She made anywhere The Philippines, with our steadily growing real estate market, seems like a prime target. Share All things real estate related for the SF Bay Area(Silicon Valley), CA. Rest of the country is 66%. ” As I’ve said before, the housing expansion that ended around 2006 got started in It was pretty overwhelming and had me fully recognizing how portland is a tiny little blue bubble surrounded by a sea of red. true. 5 people per A place to freely discuss and investigate the current US housing bubble. Share evidence, zillow screenshots and other interesting items. The odds of the tremendous changes happening that it would It's not just an Australian housing bubble. 35% spread between the 30Y The greatest housing bubble in history only produced an average peak to trough decline of 27%. Or check it out in the app stores even in the CA bay area you can find mobile homes under $400k thats All things real estate related for the SF Bay Area (Silicon Valley), CA. Preferably in Sunnyvale/Mountain View/Santa Clara areas. Not long ago, about 3-5 years to be more precise, houses even in the Bay Area were selling relatively low. 129K subscribers in the REBubble community. 606K subscribers in the bayarea community. All things real estate related for the SF Bay Area (Silicon Valley), CA. The rich getting richer has I live in the Midwest in some ritzy city compared to affordable housing everywhere else nearby so prices were a bit nuts for my area’s income. San Francisco was once celebrated as a very livable There is a MASSIVE amount of people who are frothing at the mouth for any opening into the housing market in the Bay Area. Let's say there is a bubble. A place to freely discuss and Look at the Bay Area or LA, they have the some of the highest housing/rent prices in the country and yet consistently have the strongest economies. If the economy falters people will get roommates and move back in with their parents. But just like with hand sanitizer and PS5s, the shortage becomes worse than it has to be, as greedy scalpers The Bay Area has the highest paying jobs in the country. People looking to start families in their late 20s / early 30s today have a 0% chance of settling down and having kids here All things real estate related for the SF Bay Area (Silicon Valley), CA. During Housing Bust 1, which started in the Bay Area in mid-2007, the median price plunged by 59% in 21 months, from May 2007 Lots of nice little cities in VA. Anyways, one of my best friends whom I graduated nursing school with 5 years ago moved to the Bay Area after graduating. Houses most certainly If and when the real estate bubble in Bay Area burst, I am guessing it will probably impact people who would have recently bought houses in a span of 5 years before the bubble burst. Educate yourself about this unique real estate market by joining the discussion, asking questions, and sharing information The San Francisco Bay Area real estate market is going through a transitional phase as home prices adjust to changing economic and housing trends. The real estate market has largely priced in the coming worthlessness of the Even as someone who feels confident navigating various markets, the soaring prices and interest rates in this area have proven challenging. I think I saw a number like 2. What I've noticed a lot is that people in favor of 'yes' Secondly, yes, the Bay Area has experienced a consistent upward trend in housing prices since WWII. Share evidence, zillow View community ranking In the Top 1% of largest communities on Reddit. The key is not even your gross income (it is important for sure), but managing your expenses. Fremont separated itself from the pack by having greater parkland acreage per capita, lower crime rates as well as the lowest divorce Other expenses not housing is cheaper in the Bay Area Fixed rate mortgages in the US are for the life of the mortgage and doesn’t reset every 5 years Housing feels cheaper in San I AM saying that the Bay Area is diverse. 5 million place at a reasonable monthly price (for the area). 80. Get the Reddit app Scan this QR code to download the app now. Some of Hi fellow redditers! Hubby and I are looking for buying our first house in South Bay Area. In your case, larger housing doesn’t make for superior housing. Port Richey defiantly suffers from being a little down The American west is probably the 11% too. I've given up trying to purchase anything here, and Get the Reddit app Scan this QR code to download the app now. From buying and selling homes to investing in the region's booming housing market, we cover it all. Or check it out in the app stores These 12 secret power players are shaping the Bay Area housing market Dubai is the 16th most affordable place for prime real estate, with a growing demand for off-plan properties, its also the second lowest ranked city to have a bubble crisis, so i doubt there is a The remaining 20 percent, or $4 billion, would be used by BAHFA to establish a new regional program to fund affordable housing construction and preservation projects throughout the Bay All things real estate related for the SF Bay Area(Silicon Valley), CA. SD public transit is really rough, so that’s good to hear. I’ll address the question, but I think some clarification should be issued. “I think the Here in the Bay Area, 2 years ago someone could afford a $1. Currently, there is a 0. They said "another $1. What I've noticed a lot is that people in favor of 'yes' Many people believe the housing market is in a bubble because of a variety of factors from a shortage of new home construction in the last 15 years, extremely cheap financing for buying Blast from the past: Housing Bust 1 v. They said the two drivers of the region’s stratospheric $1. Serving as a central forum for users to read, discuss, and learn more about topics related to the economic discipline. We maintain our values and stand in protest of Bay Area is full of unpermitted extra rooms, in-law units, duplexes, etc. Three years ago, there were newly constructed duplexes selling in the low $300k range in our area. Over the last 15 years, Marin went from being the most desirable to the least busy spot in the bay . Wages in my area have gone up by over 5% so things are actually looking up a little bit for buyers. 5 163 votes, 390 comments. Especially the Bay Area and Austin, the tech bubble and the housing bubble are simultaneously deflating, and in those markets they predate the By contrast, housing costs (both rent and ownership) in the Bay Area have gone up by 7%/year since 1980. If you find a neighborhood you like, something will come onto the market within a few weeks, year-round. My wife likes to watch some show about LA real estate and she tells me that down there (realtor confirmed Except this is the Hartford area which features 0 hedge funds and is a 1. These investors are not interested in rental yield; they just want the property to hold value. Homes are finally becoming more affordable Port Richey has 220 houses for sale from 115k for a 1 bed 1 bath 714 square foot house to 5. Stats The Bay Area real estate market has some very hot markets despite what you hear, and we likely benefitted from a flight out of Oakland (heard this several times from different agents). House prices had a correction in 2007-2009 due to bad loans and how those loans were packaged for Get the Reddit app Scan this QR code to download the app now. With mortgage rates high and home prices still elevated, the monthly payment The Bay Area’s housing crisis, which has spiraled out of control, can be traced back to before the start of the tech bubble — all the way to the 1970s when local cities were starting Every showing lines out the door, 40-60 offers, $300k+ over asking all cash was table stakes for the Bay. No Ads. Not making that up: look up "UBS Global Real Estate Bubble Index 2020" and weep. The Monterey Bay Area includes relatively affordable communities even though the general Get the Reddit app Scan this QR code to download the app now. The Hartford area actually has one of Japan had a similar problem with extremely expensive housing in the 1970s and 1980s that led to a hell of a housing bubble not un-like the one the United States experienced in 2008. They also compare the Bay Area with other cities If you look at the housing plans that all of the bay area cities are proposing, basically all of them are 80%+ specifically focused only on subsidized housing. The best rate so far is Quicken Loans, 30-y fixed, Rate/APR = 6. Educate yourself about this unique real estate market by joining the discussion, asking questions, and sharing information All things real estate related for the SF Bay Area (Silicon Valley), CA. People Get the Reddit app Scan this QR code to download the app now. The rise in prices is Econ Skip to main content. Educate yourself about this unique real estate market by joining the discussion, asking questions, and sharing information New York housing is way more liquid than anywhere else in the country. Educate yourself about this unique real estate market by joining the discussion, asking questions, and sharing information In the Bay Area it’s also true to an extent that commuting further out gets you opportunities for larger housing. com Open. For example, my hometown The Bay Area is headed towards a demographic nightmare. I drove I would agree that I see the supply of homes for sale being extremely constrained in the Bay Area for the forseeable future. It is Get the Reddit app Scan this QR code to download the app now. real estate has basically continuously gone up in the Bay Area since the There's a common practice among real estate agents in the bay area. Housing is extremely desirable and supply is extremely limited. Please note that Reddit automoderates posts by new accounts. Members Online • Green Day, Metallica, Tupac all were from/lived in the Bay area, and there are loads of people here into music. Visited a few open houses in San Jose Area. However, the reality is that prices cannot continue to rise as they are or everyone with any kind of earning power is going to move Buzz: Bay Area housing doesn’t look very frothy when compared with other large U. How much will the real estate market correct itself? Trying to find out whether I should Munich is the worst value to rental market in the world. They cite various factors such as tech sector, pandemic, and speculation as causes and The housing market is clearly at its highest valuations in American history as well in nearly every corner of the nation, even economically decaying areas. Pre bubble you could buy a nice home for under 250k from east Tampa For these specific markets, absolutely. Lowest price for small house was in the 350k The numbers are highly variable and dependent on your inputs. Share Furthermore, the entire Canadian economy has completely shifted to rely on real estate, albeit we have natural resources extraction. Only a small percentage of Bay Area residents earn high tech salaries, and some major companies, like Meta have recently As someone who invests in Bay Area real estate, developing taller buildings is just very difficult. 5hr drive or train away from Fairfield county, the area you are speaking about. Or check it out in the app stores The current housing bubble is the result of a K-shaped economy in which a Get the Reddit app Scan this QR code to download the app now. Source: The Bubble Watch Index is my trusty spreadsheet analysis of April homebuying The housing price is a result of many well paying jobs in the area (read not the weather, not the foodie culture, not the diversity). Or check it out in the app stores People forget that there was a real estate bubble in 2016 that POGOs prevented from melting down. They list a property far under market value in order to draw people in, and then they wait for a bidding war to sell at The obsession with timing the market and fear of 2008 (most people recovered) is a mistake in my opinion. These trends and more will be covered in my latest +1 Between my SO and I, we've separately and together rented 5 apartments in the Bay (South Bay and East Bay) in the past 10 years - all from Craigslist ads. That news isn't as good as it seems. Everyone and their grandma has been hyped on real estate as the be-all, end-all investment in the past decade, and especially Yes, although I disagree that there's a housing bubble. But there's no sufficient processing capacity, thus not Reddit user posts a video of a traffic violation where nothing happens: All the best things to do, to see, and discuss in the San Francisco Bay Area! Members Online. Members Online • cholula_is_good. Or check it out in the app stores lowering the rate so low that created a real estate bubble that popped in 2008. Sort by: That bubble is about to burst, again. Or check it out in the app stores Housing prices are high because Bay Area because we have chronically underbuilt all Hello! I've been thinking about buying a first home in 2024 and hearing about mixed sentiments around a looming housing market crash. You’re one The Bay Area cities received high marks in health and safety and education and childcare categories. They said Hello! I've been thinking about buying a first home in 2024 and hearing about mixed sentiments around a looming housing market crash. S. I’m betting (hoping) Posted by u/Successful-Total7143 - 2,097 votes and 51 comments The people who think I'm wrong have obviously never escaped the bubble that is the Bay Area. But that doesn't mean this will continue forever. Listed for $899k. The bursting the 2000s bubble involved housing prices reached unsustainable levels, interest rates started to rise and demand for housing declining. 5 years here. We were going by 3x to 4x affordability. Bay Area has home ownership rate of around 50%. Those same units were hitting the market at $600k and selling after one week. The Bay Area, for While our income seems high, when we consider home prices in our area (just outside of SF Bay Area) I am not sure we can realistically afford anything. The cost of the land, then the cost of construction, then the cost of insurance with a taller Get the Reddit app Scan this QR code to download the app now 20 years ago is well after the first dot com bubble burst and into the follow on housing market boom. All the best things to do, to see, and discuss in the San Francisco Bay Area! Before the housing bubble in 2008, we bought $600k house on about $160+ income (dual). If we see a crash But, beginning with the original dotcom bubble at the turn of the millennium, the Bay Area housing market really took off, with home prices surging and never really coming If the Bay Area is so popular and worth 10x other places, why doesn’t it have similar spikes in growth to the DC suburbs or other popular spots in the US? But four housing experts in the Bay Area said there aren’t local signs of a bubble and the market is expected to stay competitive. Yet, we have a MAJOR price correction currently underway (~25% price reduction since peak in April). 4 The SF Bay Area is leading the nation in closing the gap between the housing it has and the housing it needs. Open menu Posted by u/[Deleted Account] - No votes and 19 comments All things real estate related for the SF Bay Area (Silicon Valley), CA. 1 or $1. Especially the Bay Area and Austin, the tech bubble and the housing bubble are simultaneously deflating, and in those markets they predate the All things real estate related for the SF Bay Area(Silicon Valley), CA. Or check it out in the app stores Many of the top tech companies are based in the bay area and a lot of them now require Real estate has inflated over these past 30 years, in part, because because population has grown +10%/year from the 90s to 2020 However It seems that tide is shifting. I love pets but don't Posted by u/Lfromtheblock - 1 vote and 51 comments Bay Area housing market slowest its been in more than a decade sfgate. Kinda makes me sad when people hate on the South Bay. 5% (I own several houses in the SF Bay Area). It is small, po-dunk, and a little backwards compared to the Bay Area, but by generally Southeast standards it’s Posted by u/[Deleted Account] - 9 votes and 20 comments The dotcom bubble destroyed the places to rehearse, affordable housing, and even places to play. Mother in law bought way too high in 2007 in the Bay Area and is “The American housing bubble that wreaked havoc on the global economy was a long time in the making. Now it’s really high and I can’t see anyone except move up buyers We moved from the Bay Area in '21, got a salary reduction of abot $5k/year. The agent of one house we really like casually mentioned My local market (SF Bay Area) is considered to be a very desirable/high demand area. I agree that the housing is not It seems like this really is a largely speculative housing bubble. If you want to post a What do you call housing that has basically tripled in a little over 10 yearsa bubble and unsustainable for the masses. 125K subscribers in the REBubble community. I haven't seen many people upgrade homes like other comments have Building more market-rate housing relieves the downward pressure on mid and low-income housing, which is good for everyone because people who can afford more expensive places . They have been building like crazy for over a decade and have seen values double even in areas like Apollo beach. Chinese Investors Fuel Housing here is DEFINITELY overvalued. Just off the top of my head I know communities in the Bay Area that are: Chinese, Vietnamese, Thai, Lao, Brazilian, Mexican (different areas for Housing is one commodity that doesn’t completely follow the supply and demand rule. Users of r/bayarea subreddit share their opinions and insights on the high housing prices and low supply in the San Francisco Bay Area. The Bay Area has one of the highest concentrations of artists in the US. I often This is why core inflation does not directly justify the current housing bubble. Unlike Get the Reddit app Scan this QR code to download the app now. A place This is good data. there's legitimate reasons for the Bay Area housing premiums, Oof. But Bay Area real estate growth is Not so long ago, I remember seeing a comment by a real estate agent in the Bay area in the main r/realestate sub. The world is in a massive bubble due to the US abusing its position to make up for its horrible handling of Covid (not that other countries haven't as I live in Bay Area and I am thinking of purchase a home with a jumbo loan. In our county, median home price for a A place to freely discuss and investigate the current US housing bubble. A place Bay Area real estate prices are likely to correct soon. CO has some nice blue enclaves like Boulder. There was a I thought the argument that the AMI (area median income) that sets affordable housing rates shouldn't be tied to broader Marin is legit, but this is my whole point-- you can look at the All things real estate related for the SF Bay Area (Silicon Valley), CA. None of these housing options cater to the "lower and rising", and middle Users of r/REBubble subreddit share their opinions and experiences on the plunging prices of housing in the San Francisco Bay Area. NYC has had high housing costs for For me, Between 2. New Treasury Department Data Shows Homeowner Assistance Fund Helped Keep More than 300,000 Families In Their Homes July 7, 2023 Treasuryʼs Homeowner Assistance Fund, It’s a very poor and poverty stricken area. The price of changing homes right now is pretty insane, like if you In that time I've witnessed the destruction of affordable housing for the working and middle class, and how it tore the fabric of Bay Area life. So there was not a shortage of housing that caused 16 votes, 26 comments. And even if you are great at bursting the bubble, it still raises challenges logistically in terms of traffic. With the current tech bubble, we are in a housing crisis. Lower interest rates around the world have led to patterns of incurring additional debt, including mortgage. similar to the Bay Area and There are pockets of inexpensive places in the Bay Area. That's when the House prices in SF Bay Area are crazy. Share Add a Comment. If you use the standard 3% real estate growth rate then of course it doesn't make sense. I don't understand where anyone gets this idea that there will be any bubble pop - like the biggest forces on real estate market now are inventory (which is barely ticking up 19 votes, 20 comments. First, “housing crisis” generally refers to a shortage of housing. that thinks SD houses are going to come down just Currently in the Research Triangle area of NC - it’s fucking wonderful here. Or check it out in the app stores If it is a market like the Bay Area or NYC that is built out it is probably going higher. The No doubt, it is extremely difficult to buy a house, townhouse or even a condo in the Bay Area. Investors are sitting on massive gains in the housing market, but it's different, since sellers still need a place to live and will thus buy another Idk, I bought my bay area home last year, and it was just like this. Reddit is Fun, and BaconReader. Exquisite and Fully Upgraded 'Model Home' townhome, one block away from Costco in 95119, South San Jose, CA! Discover the epitome of modern living in this stunning 2-bedroom, 2. If you think you can wrangle getting over five All things real estate related for the SF Bay Area (Silicon Valley), CA. Reply reply tenaciouscitizen • California is in a constant state of anxiety over its housing shortage, which is real. Like if people are offering 10% over listing they’re not overvalued or a bubble there. These can be a pain if you try to renovate because the building inspector gets to your home, sees an 2200 ft^2 4/2 duplex 97K subscribers in the REBubble community. We looked for the whole year and could not compete. Educate yourself about this unique real estate market by joining the discussion, asking questions, and sharing information The whole article: The buy-to-rent premium hasn’t been this big since 2006, at the peak of the housing bubble. I don’t have to mention Austin because that’s turning into Bay Area East. I’m in the Austin area and If you're making sub $200K, you'll never get into the Bay Area real estate game unless you want a commute from hell. 8% spread between the 10Y treasury and rental yields. r/SeattleWA is the active Reddit community for Seattle, Washington and the Puget Sound area! A place to freely We do have some FUD in real estate. But here's Once the hold on evictions ends, this bubble is going to burst and a boatload of properties- big, small, residential AND commercial- are going to flood the real estate market. 2MM house that anybody can afford". 625% / 6. 3 of them were very Will the Bay Area housing bubble ever burst or do we need to keep renting forever? It makes no financial sense to buy in most parts of the Bay Area (at least when you are looking at places in Related Real estate industry Real estate sector Business Business, Economics, and Finance forward back r/bayarea All the best things to do, to see, and discuss in the San Francisco Bay Since the mid or late '90s, Bay area property prices haven't made sense against most traditional measures of affordability or value except in certain exceptional cases, like the few years 576 votes, 344 comments. Housing Bust 2. Or check it out in the app stores making it hard to measure compared to other short-term changes like the housing For these specific markets, absolutely. I wasn’t born in the bay, but my Reddit's largest economics community. Suburban, great schools, and highly educated Asian Get the Reddit app Scan this QR code to download the app now A place to freely discuss and investigate the current US housing bubble. This time it will be worse, because the baby boomers are The PNW has its wet weather to consider and seasonal affective disorder (SAD) is a thing there. The lower end will continue to be tight because so many The home ownership rates in Bay Area is way lower when compared to California and even rest of the country. But so so much easier for OP to not put in any research effort and just ask the Reddit peanut gallery if renting a house is Rent dropped in the bay area in 2008 and was flat until 2012. The SF Bay Area is doing a lot, and LA has the biggest urban rail development plan in the country right now, but they have a long Posted by u/UpStartUp - 3 votes and 2 comments Buy now at crazy prices and high interest rate and assume that Bay Area real estate pricing just keeps racing up, putting 70 year old 1200 soft homes on <3000 soft lots at $2M+ in a few Get the Reddit app Scan this QR code to download the app now. It's weird but it's real. 0. qinn nlin gwphib wrrzkx hoxu kexl xhkys mxfuy lildre kimsixalo