Posted on 05/29/2023 11:48:22 AM PDT by knighthawk
The US housing market is currently in the midst of an unprecedented decline in home prices - with properties in some cities selling for hundreds of thousands of dollars less than they were just a year ago.
The concerning data was laid bare last week by Redfin, and marks a significant shift in the American real estate landscape following a historic surge seen during the Covid-19 pandemic.
Somewhat unexpected, the numbers unveiled two cities in the Bay Area as some of the worst offenders when it came to decline by dollar amount, a phenomenon researched said is fueled in part by diminishing demand and the looming possibility of a recession.
(Excerpt) Read more at dailymail.co.uk ...
The city will eventually have to pay people to live there.
I see Oakland leads the way so to speak. The Athletics move to Vegas is a sign I guess. Raiders already there.
Only question is which NBA team will move there, Sacramento, perhaps?
Who isn’t leaving Oakland?
First the Raiders and now the A’s
I’m not sure what the rules are but maybe the Warriors have Oakland as part of their territory. They played there for a long time before going across the bay to SF where they currently are. If the Warriors do control Oakland as their backyard any move might be quite expensive for a team.
Warriors play in San Francisco, not Oakland.
And don’t forget for the A’s and Raiders, there are already other teams in San Francisco, so they aren’t going to be missed by folks in the Bay Area.
Never thought that the Bay Area needed two teams in baseball and football. New York and LA, I get.
I could make the case that Dallas and Fort Worth could each have their own teams.
I’m sure all the homeowners are happy about this. Keep voting Democrat and keep letting them(D’s) steal elections. What could possibly go wrong?
Agreed.
For years I’ve been wondering who the heck is buying these 1500 sq ft fixer-uppers for $600K?
First you scratch together $100K for the down payment, gifted from an inheritance if you’re lucky, after which your middle-class wages wont be sufficient to cover the mortgage
LOL I can remember when an “artist’s loft” in a warehouse meant the lowest low rent district. The spaces were lacking even basic amenities but you could fix ‘em as you liked, invite all your friends, paint purple polka dots, add & tear out walls, crank up the stereo all nite long & the landlord never came around.
Btw, Frank, see my tagline.
Isn’t that closer to Baltimore?
RE: tagline.
Leonard again. Two of us.
Before he died he said:
You aren’t going to like what comes after America.
Homes here in eastern TN are selling for outrageously high prices, and they’re selling fast. The ones for about $1 million (+/-) seem to be cash sales.
We follow the process of some listings. It’ll be listed as “active”, then “pending” — either “pending - financing” or “pending - inspection”. Often it skips the financing stage and goes to inspection.
Yesterday the new occupants of the home across the street moved in. (House sold in four days.) Oregon license plates. First thing that went up was the American flag. Sounds like they’re escaping the blue.
News hounds cherry pick data to create controversy.
According to that map the average home price in Sal Lake City is 600k. Complete bullpuckey.
More Mormons in Boise. Lol.
So as the shithole quotient goes up, property values go down....who knew?
Let’s face it: in San Francisco, you might get hit on the head by an intruder in underwear who got past your security system—with a hammer, right in front of the cops.
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