5 ms·
> Any chance this will touch the bay area prices The interactive map in the articles shows SF to be "overvalued" (but not "significantly overvalued") and it st
by badlucklottery 4y ago
> Any chance this will touch the bay area prices
The interactive map in the articles shows SF to be "overvalued" (but not "significantly overvalued") and it states SF home values are down 7.8% between May and August of this year.
- gruez 4y agoI'm not sure what map you're looking at, but the first map (for 2022) shows that "san francisco-oakland-berkeley, ca" has a value of -10.17, which means it's undervalued. From the caption: > IF A HOUSING MARKET HAS A NEGATIVE PERCENTAGE, IT MEANS HOME PRICES THERE ARE LOWER THAN EXPECTED WHEN FACTORING IN LOCAL INCOMES. DATA FOR THE Second QUARTER OF 2022.
- sourdesi 4y agoI think you’ve misinterpreted the map. The yellow regions in the map are the ones that are actually undervalued relative to local incomes. SF/Bay Area is one of the few regions on the map that is yellow. It does point out, however, that tech hubs are still struggling due to reasons other than local affordability: 1) higher cost homes are more rate sensitive 2) tech companies and their corresponding stock compensation are experiencing a downturn 3) tech companies have leaned in to remote work more than in other industries, which means employees don’t need to stay in expensive tech hubs for their career opportunities. (this is from my own understanding of the market, not the article. Also, I personally think there’s still some career networking benefits being located near a tech hub)