He can’t afford a SFH?
Temperate boys like @manch don’t like Austin, tropical men like me play in Austin.
These guys didn’t do their research? Go to Austin, go to tropics, during Summer to check whether you are A-OK with heat and high humidity. Remember to go near a Cedar tree around Jan to verify you don’t have Cedar fever.
ATH is here now. Donno how long it will stay here.
According to Zillow and Redfin, estimates of my CU SFHs are still below Oct 2018 high.
Maybe there’s something wrong with your houses…
Prices are moving up fast lately, so their models are not able to catch up with new prices/data fast enough.
Also depends comparable sales near your houses. But you are not looking to sell anyway!
I noticed a lot (not even flat) in 95127 sold for 25% over asking!
I heard this is going with 1.5M and 15+ offer:
https://www.redfin.com/CA/San-Jose/757-Terrazzo-Dr-95123/home/998148
This is nuts! $2k per sq ft in Burlingame.
https://www.redfin.com/CA/Burlingame/1516-Bernal-Ave-94010/home/1935049
Zillow is out of date . Prices are going up so fast the appraisals can’t keep up.
Interesting read from Adam Nash:
For context, in June of 2012, it took about 153,586.2 Bitcoin to purchase the average home in Palo Alto. By March of 2021, that number had dropped to just 54.9 Bitcoin.
This, of course, has a number of dramatic implications. As measured in US dollars, or in real assets like Palo Alto real estate, the wealth of Bitcoin holders has increased dramatically. As measured in US dollars, the average price of a house in Palo Alto has increased by 117.9% in less than 10 years. However, as measured in Bitcoin, the average price of a house in Palo Alto has decreased by 99.96%.
So in 2025 maybe an average PA house is worth half a Bitcoin?
You guys are Landlording the poor to oblivion with help from from the most corrupt organization ever, Fed.
This makes me wonder how realistic returning to the office is going to be for many. Buying a house is way more commitment to it than just renting.
It might be the ultimate test in if employers or employees have the most leverage.
I can see some tech employees having leverage particularly when their ceos are also inclined (example square). But I wonder about the rest of the folks who are making these decisions. Maybe we’ll see a flood of houses on airbnb 6 months for now as people get back closer to job centers.
I don’t think most employees have that much leverage to begin with. Every year there are thousands of fresh meat graduating from top CS programs like Stanford and Berkeley. Even if people got their way now they won’t have that edge for long, especially if they change companies later.
agreed. Employees have no leverage. also, salaries in Bay Area WILL go down, as companies relocate more pedestrian work to places like Austin and Indianapolis. So while some salaries will stay high, they will require being close enough to the office or willing to come in often, if not daily.
More like reversion to the mean. Anyhoo, doubt there would be broad based pay cut… probably slower promotion or less RSUs.
