Same o, same o… crazy overbidding action…the classic too many well qualified buyers for very few homes
One of my former co-workers just moved there. They bought here a few years ago and almost doubled their money on it. They were easily able to buy in Seattle. They got the first home they bid on. It’s twice the size of their home here and just over half the price. He was able to stay with the same company and work out of the Seattle office. They kept his pay the same. It seems like a huge win as long as he stays with the company. I’m curious what options he’ll have when it’s eventually time to find a new employer.
I have two co-workers here from Seattle. They both sold homes here 2-3 years ago when they relocated to Seattle. The bay area went up so much in that time. One is priced out of buying here, and the other pushed out his relocation for another year.
If I ever took a job outside the bay area, I’d keep my place here and rent it out. The only way I’d sell is if it was going to be my last role before retirement.
What I like about Seattle is that it reminds me a lot of SF with its hills and vibe. I couldn’t handle the rain though.
Yeah, one has to wonder if we here are at the tipping point when people are simply going to leave in droves for cheaper areas…
What could be the possible yellow and red flags?
People won’t leave without jobs though. Job growth in the Bay Area is still strong. I do think you’ll see jobs closer to entry-level leave to lower cost areas. This are will become even more concentrated on the highest paying roles.
Yes. We are.
People are leaving…but others are coming in…Some boomers will take their massive profits and leave…Millenials are starting to buy and they outnumber boomers…
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Traffic and vacancy rates would suggest people aren’t leaving in droves.
Net growth of 100k per year. …3m in 30 years…Despite nimbys and the wishes of home buyers
Highend rents leveling off…http://www.sfchronicle.com/business/networth/article/Bay-Area-apartment-owners-lose-pricing-power-7969171.php
Geez, even our very own SAN FRANCISCO Gate is infatuated with Seattle RE…
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This is why I’ll probably buy in a suburb with 1+ acre of land. You can get that within 15-20 miles of downtown. That land will be worth a fortune in 20+ years. If I can live in a for a few years, then rent it and buy another that’s even better. Someone else can payoff it off while I accumulate land.
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I feel with HQ2 coming the Seattle market will at least slow down. I doubt it’ll dip outside of a US recession, but the gains should slow to a more normal rate.
Slow down for winter starts now…Welcome to another record rainy season.
Weird. I’m less bullish on it now with HQ2 coming. Amazon has been a huge driver of the job growth, and that’s going to flatten out.