3 ms·

1. Live and work somewhere sane. 2. Buy some popcorn. 3. Wait for the bubble to burst. 4. Actually you don't care if the bubble will burst because you are no

1. Live and work somewhere sane. 2. Buy some popcorn. 3. Wait for the bubble to burst. 4. Actually you don't care if the bubble will burst because you are not living in SF.

rconti 11y ago
Today it doesn't matter. As long as money remains cheap (and the Fed keeps insisting on it), it will fuel property prices in SF and other desirable places. If you buy a place in San Francisco in 2 years, THEN maybe you'll go negative for a bit. After the last bubble "burst", you think you could scoop up some cheap property in SF? Nope. Maybe prices dropped 10-15%, and now they're higher than they ever were. People are flocking to cities, which means the suburbs are the ones that get hammered when prices drop.
- bbcbasic 11y ago
  Don't get me wrong - I am not betting against property (real-estate) investment. Always a good bet for the long term in great cities. What I am saying is why bust a gut as a sub $150k coder to see all your money burned up as rent in SF when you can go to a.n.other city have a better quality of life, more expendable income, the chance to buy instead of rent, etc.
- aliston 11y ago
  Prices in SF fell by more than 40%: https://us.spindices.com/indices/real-estate/sp-case-shiller-ca-san-francisco-home-price-index https://us.spindices.com/indices/real-estate/sp-case-shiller... In established neighborhoods, it was probably more like 20%, but there were still foreclosures and a lot of deals to be had. Even 4-5 years ago, there were condo foreclosures near the Caltrain station at 4th and king going for around 300-400k. Granted, SOMA has improved as a neighborhood more than pretty much anywhere else in the city, but it is a myth that property values don't fall in SF. They do and have every 7-10 years (91, 01, 08...), though the long-term trajectory is obviously up.

3 ms·

1. Live and work somewhere sane. 2. Buy some popcorn. 3. Wait for the bubble to burst. 4. Actually you don't care if the bubble will burst because you are no

by bbcbasic 11y ago

1. Live and work somewhere sane. 2. Buy some popcorn. 3. Wait for the bubble to burst. 4. Actually you don't care if the bubble will burst because you are not living in SF.

rconti 11y ago
Today it doesn't matter. As long as money remains cheap (and the Fed keeps insisting on it), it will fuel property prices in SF and other desirable places. If you buy a place in San Francisco in 2 years, THEN maybe you'll go negative for a bit. After the last bubble "burst", you think you could scoop up some cheap property in SF? Nope. Maybe prices dropped 10-15%, and now they're higher than they ever were. People are flocking to cities, which means the suburbs are the ones that get hammered when prices drop.
- bbcbasic 11y ago
  Don't get me wrong - I am not betting against property (real-estate) investment. Always a good bet for the long term in great cities. What I am saying is why bust a gut as a sub $150k coder to see all your money burned up as rent in SF when you can go to a.n.other city have a better quality of life, more expendable income, the chance to buy instead of rent, etc.
- aliston 11y ago
  Prices in SF fell by more than 40%: https://us.spindices.com/indices/real-estate/sp-case-shiller-ca-san-francisco-home-price-index https://us.spindices.com/indices/real-estate/sp-case-shiller... In established neighborhoods, it was probably more like 20%, but there were still foreclosures and a lot of deals to be had. Even 4-5 years ago, there were condo foreclosures near the Caltrain station at 4th and king going for around 300-400k. Granted, SOMA has improved as a neighborhood more than pretty much anywhere else in the city, but it is a myth that property values don't fall in SF. They do and have every 7-10 years (91, 01, 08...), though the long-term trajectory is obviously up.