Real Estate's New Normal: Homeowners Staying put

Looks like Bay area story of low supplies & people not moving out of their existing home is playing across the country!

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Terrible for realtors…Great for Home Depot…Buy HD stock

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In LOW since mid 60’s.
Tracking HD since just before it’s earnings last time, @$136. Since, then it’s up a lot, so question for me is → Is it already up a lot?

I dont know…but considering how much I buy there should have bought years ago…

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http://www.smdailyjournal.com/articles/lnews/2017-05-15/city-braces-for-growth-slowdown-report-housing-prices-to-stabilize-as-redwood-city-officials-consider-new-revenue-streams/1776425180282.html

It’s always a revenue problem. There’s never a spending problem.

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RE re-bounces strongly after Nov election, which become evident in Feb. Did the city consider that?

Regulation costs too. It is indirect taxation. With cost and complexity of permits it is very expensive to build/renovate. If permitting process could be easier, more homeowners would expand and city would benefit after tax reassessment.

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Half of my neighbors on our street bought their homes back in 1970-1980s. Their property tax is a joke thanks to Prop 13. If they sell, they will be paying a lot on net gain. Their kids will get stepped up basis.
Also many boomers are staying put as aging in place becomes more popular.

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My Redwood City house hasn’t changed in value since I sold two years ago…Maybe they are right. …Meanwhile South Lake Tahoe prices are up 10-20%

Any home from Sunnyvale to Belmont is a hot market now. Redwood City spiked last two years definitely easy 10% - 20%.

I am just using zillow, which says 3% gain in 2 years…My house was high end…That market has stalled. RWC low end it still appreciating