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Using data from here: https://www.bayareamarketreports.com/trend/bay-area-market-survey https://www.bayareamarketreports.com/trend/bay-area-market-s... It look
by bretpiatt 8y ago
Using data from here: https://www.bayareamarketreports.com/trend/bay-area-market-survey https://www.bayareamarketreports.com/trend/bay-area-market-s...
It looks like ~3% of the housing units in the greater Bay Area sell on an annual basis so if the top 3% of income earners can afford today's prices the liquidity cliff can hide.
- refurb 8y agoThat's actually a really good way to look at it. If turnover is really small, you only need a very small number of wealthy buyers to keep driving the price higher. Everyone else kind of doesn't matter.
- ChuckMcM 8y agoUsing the rule of 72, every home turns over every 24 years.
- hueving 8y agoThe top 3% aren't buying homes every year.