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Housing Slowdown Chills Investors Who Supercharged US Market
- rossdavidh 4y agoI've seen this with the house next door to me, which appears to have sold for about 20% less than the asking price as of a few months ago. Whoever bought it lost a lot of money, especially when you take into account all of the work done on it in between (during a tight labor market). Whoever sold it also didn't live in it, or even use it as an AirBnB, for months, even though we have a housing shortage here. I have little sympathy, I must admit.
- shaburn 4y agoThe housing shortage is over. We have a commercial property vacancy and zoning crisis.
- WarOnPrivacy 4y agoIt's difficult to consider the housing shortage over while there are insufficient homes for folks to live in. https://archive.ph/ykr8Z https://archive.ph/ykr8Z or https://www.bloomberg.com/news/features/2022-08-10/us-rental-housing-crisis-spirals-on-inflation-pressure-pandemic-migration https://www.bloomberg.com/news/features/2022-08-10/us-rental...
- shaburn 4y agoThis argument is insanity. There are sufficient homes at prices that are insufficient for everyone who wants to live there. That is called reality. And unlike the metaverse you cannot simply invent infinitely more. https://www.sfgate.com/bayarea/article/how-many-vacant-homes-are-there-in-San-Francisco-16822916.php https://www.sfgate.com/bayarea/article/how-many-vacant-homes...
- WarOnPrivacy 4y agoThere are insufficient homes to live in. Unobtainable homes are not homes that can be lived in Introducing bizarre concepts into the discussion like infinite homes or non-sequitur like the metaverse - that doesn't really change any of that.
- shaburn 4y ago"S.F. population fell 6.3% to lowest level since 2010" - SF Chronical https://www.sfchronicle.com/sf/article/S-F-population-fell-6-3-most-in-nation-to-17199403.php https://www.sfchronicle.com/sf/article/S-F-population-fell-6...
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- rossdavidh 4y agoWe do have a lot of commercial property that is empty, some of it for years, and that makes no sense to me unless someone is using it as an investment to sell for a profit in a few years. However, most of it is not set up in a way that is suitable for residential, though I suppose if you're currently homeless you'd gladly take it.
- shaburn 4y ago'I don’t like the idea of being forced into a corner by a mandate based on growth, when businesses (and populations) are leaving California for more business-friendly states. — Tim Draper, venture capitalist' https://archive.ph/kqvHA#selection-3711.0-3713.32 https://archive.ph/kqvHA#selection-3711.0-3713.32
- WarOnPrivacy 4y agohttps://archive.ph/WgtkC https://archive.ph/WgtkC
- WarOnPrivacy 4y agoI'm in the group hoping and praying for a collapse in housing prices. People with money in the bank becoming homeless is a new level of awful. Nothing trumps homelessness.
- shaburn 4y agoYou have it. Check Redfin.
- WarOnPrivacy 4y agoI have. On balance - for the bulk of the population, reality is indistinguishable from a year ago. People with money in the bank are still becoming homeless.
- WarOnPrivacy 4y agoIn hundreds of miles in every direction from here, houses are selling for 50%-500% more than comparable houses did, just 6 years ago.