Yes, he is telling me to buy before Feb 2019. He thinks prices are going to go up in Fremont and south bay. He also mentioned that just like 2012 (year of dragon), lot of Chinese investors will try to buy because it’s supposed to be good for investment. I also have a property to sell and he wants me to sell it after Feb 2019.
Also, just checked Berkeley home price history. It looks like prices went up a lot during 1980 to 1990. So not sure how rent control really affects prices. Please look at this link for City of Berkeley:
Rent control will restrict supply. So rents and prices will go up eventually. However there will be disruption in the market. Most cities will probably do nothing. Tenant dominated cities will have the most disruptions
If they all had tent control why do I see so many homeless living in tents?
I don’t see your logic. Rent control will depress supply and homelessness will be worse when less rental supply is available.
Rent control will not reduce homelessness. Most likely it will increase homelessness.
Why is 2019 good for Chinese investors? It’s the year of pig, not dragon.
I don’t see any annual or monthly price chart. From this charts, Berkeley home price increased slower than income growth in 1970s. We need to examine the price action 2 years before and 2 years after rent control.
You also need to look at inflation and interest rate changes.
Before rent control Berkeley home prices were higher than PA now less than half. Rent control destroyed Berkeley. The most evil thing that ever happened to my home town. Plus it depleted my inheritance. I hate those radicals that stole Berkeley from hardworking landlords like my grandfather.
We need housing to grow slower than income. That way more people will be able to afford to buy a home.
We need a Marshall plan to build houses.
An act to promote world peace and the general welfare, national interest, and foreign policy of the United States through economic, financial, and other measures necessary to the maintenance of conditions abroad in which free institutions may survive and consistent with the maintenance of the strength and stability of the United States.
Not a Stalinist plan to destroy landlords.
Thus communism argues for the abolishment of all private property, and everything that is owned is owned by all members of society. This theory, that all property is owned collectively, stipulates that everything a person creates and owns is also collectively shared with everyone else.
The problem with these millennial communists is that they are incapable of building or maintaining property.
They think it just appears, like their allowance.
Free food, free medical, free housing all human rights to be given to the lazy and taken from the hard working
How to make home price growing slower than income? A couple years is not the long term trend. I was talking about the market disruptions for the short term.
Whether home price increases faster or slower than income depends on how many new homes are built and how many new people are born or moved into the area.
When rent control reduced rental vacancy rate to close to zero percent, all the new people will be homeless. Newly grown young adults will live in parents home forever, can cause domestic violence problems
Fremont has no rent control. Purchase in fremont might not be impacted immediately, it could appreciate when people sell SJ and buy in Fremont.
As I think more about rent control, I realized that NIMBY could intensify after Prop 10. Prop 10 can create a segregation of renters and homeowners. The neighborhood quality differential between single family neighborhood and multi family neighborhood neighborhood will become larger.
Also strict rent control will increase homelessness. And the sub-population who would be evicted from a rent controlled low rent home could be more likely to be homeless due to impossibility to find a similar rental. One reason is that rental vacancy rate would be close to zero. Another reason is that rental application will be extremely competitive. It will become harder to rent an apartment in Bay Area than getting an admission from Harvard. Only the high income google engineers can find a new apartment, middle income people with poor credit will be homeless, not to mention other weaker candidates with low or unreliable income, no credit history or even criminal background.
Another effect is that Prop 10 could dramatically increase rent level in cities without rent control.
Lovely, they talk about the socialist on Seattle city council who wants housing justice. Whatever that means.
Also restrict people from buying more than 1🤓
Set a maximum limit on the size of the house. Make American home size equals to Germany.
If the house is much bigger that Germany, split into multiple units and turn it into condos
Finally bagb is repeating what I am saying
Did you said what I said? Glad we can say the same words without any planning
I would rather to be a guru on productive trades instead of counterproductive rent control. It’s just a reaction to the infamous Prop 10.