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The amount of tech workers buying up housing is also up for debate. Though this article focuses on cash transactions (perhaps mortgaged ones don't contain occu
by linkregister 11y ago
The amount of tech workers buying up housing is also up for debate. Though this article focuses on cash transactions (perhaps mortgaged ones don't contain occupational data?), it paints a picture of other white collar professions performing the majority of cash purchases of housing in the Bay Area.
The data was taken from a company that controls 10% of the real estate market in the Bay Area.
http://realestateconsulting.com/tech-buyers-only-a-small-portion-of-san-francisco-bay-area-cash-transactions/ http://realestateconsulting.com/tech-buyers-only-a-small-por...
- kafkaesq 11y agoSome of them -- most likely the majority -- rent also, you know.
- linkregister 11y agoRight, so how could they be responsible for pushing up housing prices if most are renting?
- kafkaesq 11y agoGosh, I don't know. Maybe housing prices and market rents are like... related somehow?
- linkregister 11y agoCould you flesh out your point instead of simply repeating it?
- FranOntanaya 11y agoThe sale price of a house is always going to be capped by how much you could make instead by renting it. If the average rental makes $45K a year nobody would sell that house for $250K.
- kafkaesq 11y agoIn general, the more you can rent a property for... the more you can sell it for.