The S&P 500 is still above the 50-day and the 10-day hasn’t crossed the 50 yet. We’re still in a bull market. I’d argue we’re in a bull market as long as 50 is above 200. That said, financials and industrials moved below their 10-day ahead of the S&P 500 move. New leadership is needed to move us higher. I think there’s some sector rotation happening now. The magic question is which group(s) will take the lead next.
I doubt that .maybe motivated sellers, but not foreclosures (they all have equity)
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Btw, the post with 1) to 5) is from a poster in city-data forum. Cut n post here without saying so just to gauge response. Is from a thread titled “SV would drop 50%”… is not a typo, 50% 
All major indices are above previous high, which one is not? Once above, count from the start of the multi-year rally and not from above previous high.
Agree that there won’t be much foreclosures, only some motivated sellers.
We had a long lull with no new highs but no correction >10%. I think the argument is the new bull market started with the new high. It’s an interesting perspective. Maybe the period sideways was our “correction”, and it was just much smaller than normal.
This time, even if correction comes, foreclosures will be less as lot of high cash down payers are here recent times, esp 2017.
I am not talking like a bull, but practically seen on the ground level with multiple failures !
In my 17 bids offer failure, there were 7 people quoted $100k above list price, i.e. 1.5M range, seller choose the one who had 1 Million verified down payment person.
In another offer, where I gave 100k over list price, the winner had full cash offer contingent upon sale of old home, already in escrow. The winning bid was $225 above list price. They bought that home for land only and started construction work already. This is not Cupertino or Sunnyvale not a good school area (but sjc 95128). They just want a larger land, have enough cash to pay full and build on cash. I heard someone commenting the buyer is from Apple, but I do not know !
If you want to really know how the market is, try to bid here. You will never be able to win with 25% cash down offer !
https://www.redfin.com/CA/Sunnyvale/805-Gary-Ave-94086/home/664121
https://www.redfin.com/CA/Sunnyvale/1131-Ayala-Dr-94086/home/1683957
https://www.redfin.com/CA/Sunnyvale/1145-Polk-Ave-94086/home/1575566
I do not know who gets money and how they get money. There are plenty of high cash down buyers out in market !
People are so rich these days they have money coming out of their ears. Where are you going to spend all those vested stocks worth millions? Why in real estate of course!
Also, the dollar is dirt cheap. A million today is like a 100k ten years ago. Every single person in Silicon Valley is a millionaire.
In Singapore too.
This is very bad because it would cause asset inflation. People has to think of something worthwhile other than RE to invest in. May be tell everybody to buy Treasuries.
A few listed too low.
Well it is time for those Singaporeans to immigrate to the Bay Area then! Why would they want to live in a place where a home feels like a pigeon cage? 
When you say it is listed low,then people bid price is almost near value that does not cause any asset inflation !
Your logic makes my brain hurts.
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Palo Alto mid to high end is not doing very well.
I think east bay will have better appreciation in the next few years. Wuqijun is bidding in the right places, for short term only. Longer term, when the crash came, east bay will lose more.
How big is the typical mortgage for the people buying $3M or $2M houses today?
It seems scary to have a $10k mortgage payment per month. Job could be lost, next job may not pay as well
This screen provides 12 homes, but I am sure minimum 50 Millionaires are out there looking for home !
5 months of inventory?
Many more inventory.
Really not. 12 homes reduced to 11 homes now !
If you still have doubts about the market, just provide your best offer with 7 days contingency (you can withdraw later) to any home you suspect high priced in this area you have shown. If you win the offer, let me know.
this home received 19 offers [ i didn’t bid it ] …
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