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Just when you thought bay area housing pries couldn't get any crazier, Uber files for IPO same week as Lyft.
by sethbannon 8y ago
Just when you thought bay area housing pries couldn't get any crazier, Uber files for IPO same week as Lyft.
- almost_usual 8y agoPrices have actually been dropping recently
- dilyevsky 8y agoThat. Funny enough redfin stubbornly shows my property is gradually up 6% since jan 1st with no drop while I know it’s been +15% just 6 months ago
- almost_usual 8y agoIt’s not unusual to find homes now that have been on the market for over a month and are well below their original list price. That used to not be the case until August. A friend of mine has been a bankruptcy lawyer in the city since the early 90s and expects rents / property values to significantly shift 6-8 months from now. Who knows maybe it’s all ‘baloney’. I’m not in the market, we already own a home in the city. It’s just interesting to observe the trend.
- spaceflunky 8y agoPrices where? In Las Vegas? Maybe. In the bay area? no.
- linkregister 8y agoLas Vegas prices are up 5% YoY [1]. San Francisco prices continue to climb and inventory is low [2]. Some regional Bay Area markets are experiencing a slowdown but most are not. 1. https://www.trulia.com/real_estate/Las_Vegas-Nevada/ https://www.trulia.com/real_estate/Las_Vegas-Nevada/ 2. https://www.bayareamarketreports.com/trend/san-francisco-home-prices-market-trends-news https://www.bayareamarketreports.com/trend/san-francisco-hom...
- almost_usual 8y agoYou can go on Trulia right now and find homes that have been on the market for over a month and are below their listing price in San Francisco. Things cooled off around August.
- almost_usual 8y agoIn San Francisco and the Bay Area yes. Things cooled off around August. Not sure where you got Las Vegas from.
- vadym909 8y agoIts a race against the market slowdown. The 6 months cooling (waiting time) is going to be the most nerve racking for employees wanting to sell.
- charlesdm 8y agoSounds like they might be better off selling now, on the secondary market.
- seattle_spring 8y agoMost can't do that, since rsus are on a double trigger vesting schedule. That means they don't have any stock to their name until the 6 month cooling period.
- creddit 8y agoThe number of Lyft and Uber employees is minuscule compared to the size of the housing market.
- closeparen 8y agoIn the 6 months from October 2017 to April 2017, the San Francisco housing market was a couple thousand units, per the MLS [0]. Lyft and Uber each have thousands of headquarters employees. The number of employees who will make windfalls in 2019 is easily larger than the number of homes for which they’ll compete. Minuscule compared to the housing stock sure. [0] https://www.allisonchapleau.com/marketreports/san-francisco-mid-year-market-report-2018 https://www.allisonchapleau.com/marketreports/san-francisco-...
- creddit 8y agoThat's in SF, a tiny portion of the "Bay Area housing market". Additionally, of those thousands of HQ employees, relatively few of them are going to gain the wealth needed to purchase SF homes. Consider how many of those in are non-tech and therefore low-equity positions as well as it being the case that many (most?) joined much later and had equity packages converging to market comp.
- QML 8y agoDo most Lyft and Uber employees even have large enough stock grants to buy houses?