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Stop Buying Real Estate (in SF)
- hindsightbias 11y agoStop comparing apples and oranges. Notice he uses cities outside of the Bay Area for his speculation graphs. Phoenix and Dallas are like SF? S&L crises much? > Whether you are looking at a home in the Mission or Pac Heights, or even Palo Alto, these assets are all deeply connected to the same fundamental economic system. No. This is not reality. SV and SF are complete outliers. After the dot-com and 2008, price drops here were not at all like they were for those other "bubble" cities. US fundamentals and SV/SF fundamentals are two completely different realities. When the "bubble" bursts, the only thing that will change is the Z-Estimate will be less than 20% over list price. The list price will still be unaffordable to 95+%, and that will not change until the quake.