Posted on 09/12/2017 2:22:13 PM PDT by NohSpinZone
“The biggest loan they can attain is $625,000.”
Entirely false.
“That’s exactly what I thought. Same thing happened in Vancouver, BC. Increasing housing prices forced out the locals.”
How does that occur? Nobody forces anybody else to sell.
The only way CA crashes is if people stop buying anything internet, smartphone, computer - ish. And, entertainment. And national defense equipment and services.
And fruits and nuts and dairy.
And probably the best olive oil in the world. Somebody around these parts is selling wine too, but I don’t know how they’re doin’.
My parents who live in Palo Alto were telling me about a one bedroom house, not a cute cottage, just a small crappy house, on the market nearby for 3M. It will be torn down of course.
I love this video of “the boys” shot in Sunnyvale, with the Tragically Hip and Don Cherry
https://www.youtube.com/watch?v=AJZhc3HAwpc
About two years ago, my family was just embarking on a house hunt in the Bay Area. We saw this duplex unit in San Francisco that looked kind of interesting, Victorian era, nicely renovated, somewhat conveniently located and generally within our price range listed at 750K. We went over to see it, and found that it was across the street from housing projects, in front of which stood a gang of dudes hanging out on the street, with glassy-eyed stares. No thanks!
Well, my wife was interested and tracked it through sale: it went for $1.5M! We bought a house for 700K on a cul-de-sac in a suburb about 15 miles south along the coast and couldn’t be happier!
I’d sell me 2400 square foot home for half that. The drive to that area may take a day or two though.
Housing Bubble 2.0
Not fair. Houses should all cost the same.
No! They should be free. Unless you are white.
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