For those who think house prices in SV is too expensive.
House price to annual income…
Hong Kong 20x
Singapore 15x
SV 7x
Austin 5x
Note: House price and annual income of first time buyer at the point of buying.
For those who think house prices in SV is too expensive.
House price to annual income…
Hong Kong 20x
Singapore 15x
SV 7x
Austin 5x
Note: House price and annual income of first time buyer at the point of buying.
In future, keen competition from institutions.
Articles post lagging data. For more current trend, refer to Redfin or Zillow.
No sign of slowing price appreciation.
My Zestimate and Redfin estimate are comparable. Z is 100k higher estimate than R, which translates to ~ 3% since they both value my shack in the low $3Ms.
I bought for high $1Ms, so it has not doubled but gone up by ~ 60%
Did you buy the house in 2018 or earlier?
"I literally ask the tenant: 'What do you think is fair?'" Dion McNeeley, a landlord who is financially free because of real estate, said.
Did you buy the house in 2018 or earlier?
Yes
That would be SB
Yes, South Bay price appreciation has lagged behind East Bay in the past 3 years because Covid WFH favored the more remote and cheaper East Bay.
Going forward, will this trend continue or will South Bay appreciation catch up with East Bay? I don’t know…
If SB appreciates like EB, we will be awe by $5M sale price
Austin also double Below is a SFH that I bought in 2018…
If SB appreciates like EB, we will be awe by $5M sale price
Or East Bay prices may drop by 10-20% because people are returning to South Bay offices, and interest rates are rising.
fingers crossed! we are already thinking about upgrading to a bigger place
@girlykick - didn’t you just buy last year in East bay? Do you plan to sell and upgrade or just buy one more?
US home prices have soared to new heights and keep on climbing, and now some researchers and economists are saying they have seen signs of a housing bubble brewing.
FOMO is
No need to think so hard. So long inventory is extremely low, buy
Americans are generally in better financial shape, homeowners have stronger equity positions and excessive borrowing is not as rampant as it was in the mid-2000s.
So any correction would be mild?
Inventory should stay low with rates going up. Most of America is locked in under 4% or even under 3% mortgage. Selling to buy with a 4.5% mortgage is crazy unless you’re downsizing big time.