How the Coronavirus will affect Bay Area Housing Market

Millienials are getting older and wiser everyday. 24-39.

They will buying like crazy soon enough.
I bought my first house at 22. The longer they wait the less net worth they will have 40 years from now.

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San Francisco, with its expensive real estate and reliance on the technology industry, stands to be reshaped by the pandemic. Tech offices have been shut down along with much of the rest of the state of California over the past six months, and companies including Twitter Inc. and Slack Technologies Inc. have embraced remote work for the long term. Some workers have migrated away from the city.

Morgenfeld said a more distributed workforce “will give us the opportunity to hire people from a wider range of backgrounds and experiences.”

https://www.sfgate.com/business/article/Pinterest-terminate-SF-office-lease-88-Bluxome-15525421.php

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So far, pandemic affects SF negatively, other parts of BA seems ok and certain neighborhoods in East/ North Bay are doing very well.

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East bay is red hot, only Sf is suffering a bit. Rents have gone down a lot in SF

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Coronavirus effect is likely overblown.

However, if fire season starts consistently making 1+ month of the air terrible air quality, this could have a significant effect. I know we will not stay if this crap continues every year.

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We have not seen the impact yet. Still, it made 45M+ unemployed people, entertainment and travel industries affected. It has the scale higher than 2008 downturn.

This is bigger than previous ones(less than 1929).

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Not a fan of Blade Runner?

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This orange sky is almost west coast of california, ranging from Los Angeles to San Franscisco (even north)…etc

This LA (last 3 days it was like this)

This is true I guess I was just thinking mainly about people leaving and working remotely

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The Bay Area has had unhealthy air for what, 3 weeks straight? If this was consistent every year, housing demand will drop. Same for anywhere with same issue.

It is consistent for last few years - one thing or the other - wild fire, poor air quality, drought Conditions, heat wave, cold wave.
Lasts few months every year.
Bay Area weather is definitely overrated.
Well most things in Bay Area are overrated!

I don’t know why you hate the bay area so much. :slight_smile: Do you live in the bay area?

You forgot earthquake which is the biggest-ticket item.

Most Bay Area hatred can be cured by buying a house or two in the Bay. We are here to help.

:wink:

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Yes. Been here for last 12 years. Waiting for kids to go to college n then I’ll run as fast as I can. And it’s not due to high cost.

Not sure what to like about this place besides high paying jobs. Never ending rat race, mono culture, traffic, blind rush, crowded everything, little diversity, high cost of living, poor quality of life, greedy people, little to no social life and all the above problems plus yes earthquake.

Sounds like you have been suffering for a very long time. Why have you not moved already? Destination identified?

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Buy a sailboat and sail in the bay. You can get away from the crowds instantly. Peace and quiet and your own waterfront property wherever you go. Learn to appreciate what the bay has to offer. Old seaworthy sailboats cost as little as $5k and slip fees as little as $300/m. Get three partners and you get an instant social life and camaraderie. Great fun. Can vacation every night. The vacation starts as soon as you leave the dock.

This is a great deal. The engine can be repaired for cheap. A used replacement engine costs $3k. Repairs much less. I have the same engine in my Catalina 30. Brisbane is a fun place to sail from. Could even live aboard in this one. Offer $5k

https://sfbay.craigslist.org/pen/boa/d/brisbane-sail-boat-for-sale/7193124885.html

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Sorry to disappoint you. Climate is not going to change. Only thing is to mitigate the impact by making electric wiring under ground, better fire fighting capability by creating aviation fleet that is designed from ground up for fighting fires like new choppers and planes that can scoop water efficiently from reservoirs. more reservoirs to store water widely distributed around the state.
when you need Elon Musk to solve real world most important issue facing the state…

Even with list appreciation price 9.12% year over year, this home went $200k above the list price

The new owner invested $2.2m. he probable made his mind atleast a year ago. and current stock market lift made him stick to his decision. Past price appreciation irrelevant.
but it does not say anything about next 5 to 10 years. whether $2.2M invested here better or live on Rent for less than $60K a year and not worry about anything. no earthquake or climate.
Any place where water table goes down the risk of earthquakes increases.