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http://www.trulia.com/property/3223512589-714-Douglass-St-San-Francisco-CA-94114 http://www.trulia.com/property/3223512589-714-Douglass-St-Sa... http://www.tru

by kzhahou 11y ago

http://www.trulia.com/property/3223512589-714-Douglass-St-San-Francisco-CA-94114 http://www.trulia.com/property/3223512589-714-Douglass-St-Sa... http://www.trulia.com/property/3224704811-407-Loreto-St-Mountain-View-CA-94041 http://www.trulia.com/property/3224704811-407-Loreto-St-Moun... http://www.trulia.com/property/3164651301-1625-NE-Marine-Dr-Portland-OR-97211 http://www.trulia.com/property/3164651301-1625-NE-Marine-Dr-... http://www.trulia.com/property/3152279353-109-Syrah-Cir-Austin-TX-78738 http://www.trulia.com/property/3152279353-109-Syrah-Cir-Aust... Of course, life isn't about how big/nice your house is. But at some point you realize you've just been working on a CRUD app the last few years (and not changing the world with a self-driving AI satellite hyperloop), you can't cross your apartment without stubbing your toe, and you have enough money for whatever you want but no time or room for anything, and maybe (just maybe) there's delicious food outside silicon valley, too.

deleted 11y ago
[deleted]
muzz 11y ago
Markets reveal preferences
- toomuchtodo 11y ago
  They also stay irrational longer than you'd expect.
  - muzz 11y ago
    So how many decades now?
- ossreality 11y ago
  This has nothing to do with preference and everything to do with jobs. Otherwise the headline wouldn't be what it is.
- kzhahou 11y ago
  I think you're saying that people must prefer crappy housing with SV's tech scene, versus the alternative nice houses with a smaller scene? If so, that much is self evident. It is what it is.
- minimuffins 11y ago
  [robot voice] markets reveal preferences markets reveal preferences markets reveal preferences markets reveal preferences markets reveal preferences BZZZZT markets reveal preferences PHFFFFFZT markets reveal preferences markets reveal preferences markets markets markets market mark mark mark mar mar mar marmmmmmmmmmmmmmmmm
abbasmehdi 11y ago
These are list prices, we are finding list and sale prices are quite different in the Bay Area. Folks list low on their realtor's advice to ignite bidding wars. And bid buyers do. On the plus side now we are hearing from our realtor and others that prices are stabilizing (i.e. not going up as fast, but definitely not coming down). Still hugely unaffordable for most.
- equalarrow 11y ago
  Also, even if you can bid, cash is king. So, not only is everyone driving the prices up, but the winners are usually all cash. I don't know anyone who has a few million in the bank, ready to move on property. Sadly..
  - abbasmehdi 11y ago
    Absolutely. Unfortunately I know many, many who have a few tens of millions; unfortunately^2 I am not one of them. People say it's the Chinese buyers with the all cash offers, but I see locals do it left, right, and center with money made in SV within the last few years.
  - bduerst 11y ago
    Yep, but that's because they're mostly foreign investors. >About 60 percent of foreign buyers paid cash, compared with one-third of domestic buyers, according to the 2014 Association of Realtors survey. http://www.sfgate.com/business/networth/article/How-and-why-buyers-from-China-are-snatching-up-5924991.php http://www.sfgate.com/business/networth/article/How-and-why-...
    - arjie 11y ago
      Well, according to the article 3/5 of foreign buyers paid cash, 1/3 of domestic buyers paid cash, and 1/5 of all buyers are foreign cash-only buyers. 1/5 (all buyers) = 3/5 (foreign buyers) So one in three buyers is foreign. Which means two in three buyers are domestic, which means two in nine buyers is a domestic buyer who pays cash. So that puts the number of cash-only domestic buyers higher than foreign investors. That means that it's roughly the same absolute number of domestic cash-only and foreign cash-only (allowing some fuzziness in the numbers), not quite mostly foreign cash-only. We can safely then conclude that the article linked does not support the claim that the people bidding cash are mostly foreign.
baddox 11y ago
Ha! I'm experiencing all the negatives of the region that you listed, and since I'm not into restaurants I'm not experiencing the one positive you name.
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hasenj 11y ago
The first link's house looks like it's on the verge of collapse
sbochins 11y ago
Wow, that Mountain View place looks like a real bad deal. Will need to do a complete renovation there. Judging by the date it was built and the condition it was in, you're probably going to have to look at at least repairing the foundation/roof/etc. I didn't realize prices have gone up so high in the South Bay. Makes San Francisco seem very reasonable by comparison.
Bjorkbat 11y ago
On the food portion, those that move to New Mexico often enjoy our food more. Conversely, once they move out of New Mexico they seem to deeply miss our food.

by kzhahou 11y ago

deleted 11y ago

[deleted]

muzz 11y ago

Markets reveal preferences

toomuchtodo 11y ago
They also stay irrational longer than you'd expect.
- muzz 11y ago
  So how many decades now?
ossreality 11y ago
This has nothing to do with preference and everything to do with jobs. Otherwise the headline wouldn't be what it is.
kzhahou 11y ago
I think you're saying that people must prefer crappy housing with SV's tech scene, versus the alternative nice houses with a smaller scene? If so, that much is self evident. It is what it is.
minimuffins 11y ago
[robot voice] markets reveal preferences markets reveal preferences markets reveal preferences markets reveal preferences markets reveal preferences BZZZZT markets reveal preferences PHFFFFFZT markets reveal preferences markets reveal preferences markets markets markets market mark mark mark mar mar mar marmmmmmmmmmmmmmmmm

abbasmehdi 11y ago

These are list prices, we are finding list and sale prices are quite different in the Bay Area. Folks list low on their realtor's advice to ignite bidding wars. And bid buyers do. On the plus side now we are hearing from our realtor and others that prices are stabilizing (i.e. not going up as fast, but definitely not coming down). Still hugely unaffordable for most.

equalarrow 11y ago
Also, even if you can bid, cash is king. So, not only is everyone driving the prices up, but the winners are usually all cash. I don't know anyone who has a few million in the bank, ready to move on property. Sadly..
- abbasmehdi 11y ago
  Absolutely. Unfortunately I know many, many who have a few tens of millions; unfortunately^2 I am not one of them. People say it's the Chinese buyers with the all cash offers, but I see locals do it left, right, and center with money made in SV within the last few years.
- bduerst 11y ago
  Yep, but that's because they're mostly foreign investors. >About 60 percent of foreign buyers paid cash, compared with one-third of domestic buyers, according to the 2014 Association of Realtors survey. http://www.sfgate.com/business/networth/article/How-and-why-buyers-from-China-are-snatching-up-5924991.php http://www.sfgate.com/business/networth/article/How-and-why-...
  - arjie 11y ago
    Well, according to the article 3/5 of foreign buyers paid cash, 1/3 of domestic buyers paid cash, and 1/5 of all buyers are foreign cash-only buyers. 1/5 (all buyers) = 3/5 (foreign buyers) So one in three buyers is foreign. Which means two in three buyers are domestic, which means two in nine buyers is a domestic buyer who pays cash. So that puts the number of cash-only domestic buyers higher than foreign investors. That means that it's roughly the same absolute number of domestic cash-only and foreign cash-only (allowing some fuzziness in the numbers), not quite mostly foreign cash-only. We can safely then conclude that the article linked does not support the claim that the people bidding cash are mostly foreign.

baddox 11y ago

Ha! I'm experiencing all the negatives of the region that you listed, and since I'm not into restaurants I'm not experiencing the one positive you name.

deleted 11y ago

[deleted]

hasenj 11y ago

The first link's house looks like it's on the verge of collapse

sbochins 11y ago

Wow, that Mountain View place looks like a real bad deal. Will need to do a complete renovation there. Judging by the date it was built and the condition it was in, you're probably going to have to look at at least repairing the foundation/roof/etc. I didn't realize prices have gone up so high in the South Bay. Makes San Francisco seem very reasonable by comparison.

Bjorkbat 11y ago

On the food portion, those that move to New Mexico often enjoy our food more. Conversely, once they move out of New Mexico they seem to deeply miss our food.