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Sooo, maybe I was wrong. The homes that went up in my area all sold within 1-2 days.
I’m shocked daily at the selling prices I see in the Tri Valley and Silicon Valley
BayArea saysI’m shocked daily at the selling prices I see in the Tri Valley and Silicon Valley
most of the suburbs went up even some more than 100% during the last year!
I’m shocked daily at the selling prices I see in the Tri Valley and Silicon Valley
Do not forget that real estate loans involve origination fees and closing costs. Also real estate has yearly taxes and maintenance. And then costs when you selI. It ain't like buying stock and waiting for capital appreciation.
True. One thing I really love about stock is that it doesn't have any property tax.
True. One thing I really love about stock is that it doesn't have any property tax.
You can't live in a stock (but you can sell some and live in a motor home).
You can't live in a stock (but you can sell some and live in a motor home). That is all..
Well, not yet at least. Give it time... People are looking hard at general asset taxes. When you need to even further distribute wealth...
EBGuy saysYou can't live in a stock (but you can sell some and live in a motor home). That is all..
That's silly: you can rent a real home with your stock riches.
FuckCCP89:
Do you live here in the SF Bay Area? Just asking. It's the only place I've lived. Many (but not all) people here have this petty bourgeois zeitgeist that one must own their home to live here.
HeadSet saysDo not forget that real estate loans involve origination fees and closing costs. Also real estate has yearly taxes and maintenance. And then costs when you selI. It ain't like buying stock and waiting for capital appreciation.
True. One thing I really love about stock is that it doesn't have any property tax.
That's silly: you can rent a real home with your stock riches.
By my calculations you need almost $2 million to "rent" a modest 1,000 sq.ft. apartment @ $3/sq.ft./month in perpetuity.
FuckCCP89 saysThat's silly: you can rent a real home with your stock riches.
By my calculations you need almost $2 million to "rent" a modest 1,000 sq.ft. apartment @ $3/sq.ft./month in perpetuity.
EBGuy saysFuckCCP89 saysThat's silly: you can rent a real home with your stock riches.
By my calculations you need almost $2 million to "rent" a modest 1,000 sq.ft. apartment @ $3/sq.ft./month in perpetuity.
Huh? If we are to follow "safe withdrawal ratio" of 4%, $2M gives us $80K per year. Which rents you a nice McMansion even in fucking SFBA. Definitely not a fucking 1,000 sq.f. apartment.
PS. For instance: https://www.zillow.com/homedetails/7667-Pineville-Cir-Castro-Valley-CA-94552/69226818_zpid/
Typical reason people don;t cell bay area real estate:
1) capital gains tax. Large number of families have $500k+ gains.
2) Fear of never been able to return to bay area if sell their house and priced out in future. So willing to get shitty yields.
3) House prices always go up and govt insures that they do.
If a $2M home have $72k rental and house appreciate 5% .. Rental yield becomes meaningless and it is happening for long time.
4) Prop 13 locks your property tax.
Bay area have the mix of all ingredients to keep house prices high.
Around 400,000 renters told to expect eviction notices
NNN commercial property
Farmer,
How many local homeowners told you this?
farmer2021 saysTypical reason people don;t cell bay area real estate:
1) capital gains tax. Large number of families have $500k+ gains.
2) Fear of never been able to return to bay area if sell their house and priced out in future. So willing to get shitty yields.
3) House prices always go up and govt insures that they do.
If a $2M home have $72k rental and house appreciate 5% .. Rental yield becomes meaningless and it is happening for long time.
4) Prop 13 locks your property tax.
Bay area have the mix of all ingredients to keep house prices high.
From the article:
The cost of boosting support to tackle rent arrears is a fraction of the cost of the stamp duty holiday.
We're not in Kansas any more. Help me Auntie Em.
B.A.C.A.H. saysFarmer,
How many local homeowners told you this?
farmer2021 saysTypical reason people don;t cell bay area real estate:
1) capital gains tax. Large number of families have $500k+ gains.
2) Fear of never been able to return to bay area if sell their house and priced out in future. So willing to get shitty yields.
3) House prices always go up and govt insures that they do.
If a $2M home have $72k rental and house appreciate 5% .. Rental yield becomes meaningless and it is happening for long time.
4) Prop 13 locks your property tax.
Bay area have the mix of all ingredients to keep house prices high.
Many. Upper class(Not ultra wealthy) asians typically have this thinking.
the past few years.
Farmer,
How many local homeowners told you this?
farmer2021 saysTypical reason people don;t cell bay area real estate:
1) capital gains tax. Large number of families have $500k+ gains.
2) Fear of never been able to return to bay area if sell their house and priced out in future. So willing to get shitty yields.
3) House prices always go up and govt insures that they do.
If a $2M home have $72k rental and house appreciate 5% .. Rental yield becomes meaningless and it is happening for long time.
4) Prop 13 locks your property tax.
Bay area have the mix of all ingredients to keep house prices high.
It's hilarious, they're signing up for a massive annual property tax bill. ... And because of the recent Republican authored changes to the income tax law, the entire amount of those property taxes can no longer be deducted from the (required) super high incomes to service the property tax bill.
Article is for the UK, but the same conditions exist elsewhere.
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I also have a few zip codes in Florida that I monitor, and I'm starting to see a lot of price reductions being posted as well.
Have we reached the top?
I think inflation is here for sure, but I'm wondering if we over shot with commodities and real estate and there is a good sized correction coming over the next year or so.