Been buying in the East Bay Sac Stockton and Tahoe since 1976. Never regretted it.
Besides Sacramento has its own employee base. I doubt many commute to downtown SF
The trend to Sacramento and burbs has been going on since the 70s
Had dinner with a lawyer last night who set up practice in Placerville in 1984
The 2006-9 sub prime crisis was an aberration on the trend.
Right, but presumably markets went up and down no? The record is clear and I am sure somebody out there lived through it, when Sac market was reduced to a rubble. What did you see when the Sac market tanked?
From all the stories, I believe there are a bit more folks commuting in from Sac to the Bay for work. My question remains what happens when the economy stalls or tanks here? Yes, people have to live somewhere could be one answer so they will make do in Sactown without a job but how long can one last?
The sub prime crisis was national. Not unique to Sacramento. All you BA investors need to do your own research. But I know for a fact many of you have followed my lead. I have a Sacramento investor interested in my Tahoe apartments my 8 cap⌠looks very attractive compared to their 4 caps.
Btw we are keeping our Sacramento apartments and spending $500k in upgrades and raising rents 30%
Only about 2% of homes are sold a year. That means you only need 2% of people making enough to afford the current prices.
Los Angeles is preferred over Sacramento. Some part of Los Angeles is cheaper than Sacramento. Maybe thatâs why Thiel moved there.
Come on, if you are filthy rich, it is not even close why one would pick La La Land over SactownâŚ
2% of what?
Take all homes in the Bay Area. Only about 2% of them are sold each year. So all the matters is if thereâs 2% of peoole that can afford current prices. Only a tiny percent of people in palm alto could afford to buy their home today. That doesnât mean prices will crash tomorro. Their mortgage is based on what they paid years ago.
LA is a crowded shithole unless you are rich donât have to commute and live on the beach.
Or the hills (as in Beverly Hills).
BH is close to the beach. The west LA cities are the fortress like the Real BA.