Can’t stop your fake news BS?
Most of us are in California. Can you leave us alone and go somewhere in Europe/China/Asia to spread your nonsense?
No idea. I don’t like to invest too far away from The Domain.
California and Bay Area are far from irrelevant. If anything, the relevance of Bay Area as a global center of commerce has increased tremendously over the past decade thanks to the pervasive spread of technology and software into every aspect of our lives.
At this point in time, I think SF Bay Area is becoming on par with New York, London, Paris, Tokyo and a handful of other global superstar urban regions. The talented and ambitious people of the world want to cluster in such regions in order to achieve more and move up in their careers.
The stock market will take a tumble if a disaster of significant magnitude happens to a superstar region or a big part of the world, whether natural or human induced.
I am looking forward to California becoming irrelevant. Like Yogi said it has gotten so crowded that nobody comes here anymore. I figure it will become irrelevant when Kasakhstan becomes hip
Don’t understand what is 5% and 10%?
What does affordability ratio mean? % of buyers who can afford it(using some assumptions)?
3.5% rate is the mortgage rate?
https://www.sfchronicle.com/local/article/California-Austin-Texas-migration-home-prices-16275299.php
“If the house is pretty attractive, we might see anywhere from 30 to 50 offers, and the Californians tend to win because they understand this game a lot better than the Texans,” said Ray Shapley, the Rubbiccos’ real estate broker and an Austin native. More than half of his clients are now from California.
Prices of 20% to 25% over asking are common. Shapley knows a buyer who paid for a newly built house, never moved in and sold for a profit of more than $200,000.
How long before Austin people get tired of ever increasing property taxes and put in something like CA’s Prop 13?
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Californians are being blamed for property tax increases throughout the west. Time for prop 13 everywhere.
Californians understand the game of overpaying a lot better than Texans.
Shouldn’t Califonia get rid of the Income Tax to catch up with Florida and Texas?
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I did not know Paris counts as a Global City. I would probably put Singapore and Seoul and KL far ahead of Paris.
Mortgage rate
No idea
Yes
Don’t be surprised that California investors have single handedly pushed up house prices in major US cities.
California investors seems to have very little understanding of Real Estate Maths. They do the same – whether within CA, or outside.
10% mortgage rate. Maybe will see it in my lifetime.
Austin had better weather the last couple days than Seattle and Portland.
…
I would prefer to ponder over what is the steady state. Comparing prices of my rentals in Austin vs my Primary in SV, when I first started buying rentals in Austin, the prices in Austin are about 1/8 of SV, now is about 1/5. So at steady state, what is this ratio? 1/5? 1/4? 1/3? 9/20?
Are you looking for a steady state, or dynamic equilibrium (to borrow from Thermodynamics)? The two might appear the same.