Same here also in East Bay. Also seeing low turnout at OH. Price drops after 1 month on the market. Also seeing many neighbors fixing up getting ready to list.
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Definitely at a near top. Down turn coming?
Look like house prices in Texas are still cheap 
compare to other tech hubs.
What’s the plan? What’s the vision?
.
以不变应万变
No change to deal with all changes since have already considered all possibilities when crafting a strategy.
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What was the strategy or status quo? Remind me.
1 a year?
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Interesting that since 1991 the national home price increase is a 4.4% average. It definitely doesn’t happen linearly.
Ross Gerger is forced to buy a house at ATH because his wife wanted to buy it. That’s what I did in 2007. So I am not alone doing such financially foolish act. There would be a lot more people like us. House 
Make no mistake: The home buyer pool may be shrinking, but it’s still not a buyers’ market.
“Our biggest concern at the moment, just as it was for the last two years, is the lack of inventory,” Castillo said. “We have hundreds of pre-approved buyers looking for homes that do not exist due to a lack of financeable for-sale homes.”
Despite surging rates, homes for sale stayed an average 17 days on the market. According to Redfin, that’s up from the record low of 15 days posted in May and early June – signaling fast paced buyer demand.
“It’s very competitive and many first-time homebuyers cannot find a home and can’t compete with existing homeowners with all cash offers from their built equity.
If inflation is at 2%, what should be the fed rate and 30-yr fixed mortgage rate?
FED, Jun 15th conference call, indicated long running FED neutral rate is 2.5% for inflation 2%. As per current plan, FED raises rate to max 4.10% (dot plot) by 2023 and then bring it down to 2.5%.
This means that low mortgage rates are history like real estate short sales ! For those who locked 30 year fixed less than 4% must pat themselves as it is going to be history in USA.
Mortgage rates will be decided by MBS market ( or 10 year note rate ) at that time.
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Current fed rate is 1.75%
Current mortgage rate is 6%
If 2.5% is the target fed rate, 6% for mortgage rate is still low. So once property market gets used to the new mortgage rates, transactions would resume since demand is still >> than supply.
Lol. What do you think will happen when there’s a recession, and the FED needs to stimulate the economy? There’s about a 0% chance we make it to 4.1%.
True, if recession comes before, rate hike stops, but who can guarantee recession even if yield curve inversion happens?
From the above statement, all I understand is that you did not listen FED’s Jun 15th Conference. I am 100% confident on that (proof given below).
The new dot plot gives 3.75% to 4.5% in 2023 which may or may not happen, No one knows about the future, but that is the guidance all 18 FED policy makers are aiming now. Above all, mid-term election results will be major change in USA
Second, I am just posting what was inferred from FED’s conference, that is all. When FED raised 0.75% (no one expected last month) after historic 40 years, anything can happen and anything they can do based on their judgment.
We just listen, follow what they do, and protect our investment.
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The fed is a bunch of academic morons. Their forecasts have been garbage for years if not decades. They also won’t surprise the market and only make rate moves after they are already priced into the market. The market will decide what happens, and then the fed will announce rate decisions to match it. The market moved before the fed decided on the 0.75% hike.
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The forecasts are about moving the market rather than actual forecasting. The full forecast immediately gets priced in, rather than just the individual rate increase/decrease.
Personally I don’t think we’ll make it to 4%. The country is already in a recession. The labor market is rapidly weakening. Inflation is just food, energy and cars at this point.
I posted a job ad recently and received over 50 applicants in less than a week (heading into a holiday weekend no less). I had to fill a similar position in mid-2021 and received ~12 applicants (only one of them qualified) over the course of a month. Anecdotally the view from the ground is radically different than a year ago.
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I simply laugh at these statements…no interest to respond.
Nowadays I feel this way:
If someone thinks wrongly, let it be. If someone understand the world (or surroundings right way), they will reap the benefits.
Both will realize their decision outcome in due course !