So what's up with the BA RE market?


#142

Pretty obvious Miano is a racist. H1B is based purely on merit. If someone has the skill and companies want to hire that person, why does it matter what race is that person?

Even H1B is a waste of time. Just give these people automatic green cards.


#143

What Miano said is true, but the real truth is that we do indeed need to flood H1B with Indians. Where else can we find people to fill up those rolls? Let’s face it.


#144

That’s from @notabene’s article. Actually not his article, he provided link.

Miano is apparently subscribing to the tech worker protectionism. Doctors and lawyers have their professional organization to protect, software engineers are too volatile to form a professional guilde. Miano is a solo lawyer and he seems to make very little money after he left his software job. He got his law degree after decades of software career. He should have bought some rentals when he had his software job. I think some software engineers will suffer after losing their software job but has no stocks or rentals like @wuqijun.

I started RE investment when I realized I have no pension and engineering career is volatile


#145

If I am not wrong, Miano didnt switch careers, he was laid off to be replaced by H1B employee from India and was asked to train him to replace his own job. Hence the law career.


#146

So glad I have those stocks and rentals… how else could I have survived after losing my software job… :smiling_face_with_three_hearts:


#147

So difficult, I sit around and blog, money just flows in.


#148

You still have to work hard for your money because you need to please your wife every night. That could be more backbreaking than that 9-5 job…


#149

So what’s everyones thought on the market now that we are getting close to Spring? Is anyone in the market right now?

I see stuff that were lingering for months finally going pending. This one was on the market in Nov for about 60 days? and now relisted again.

https://www.redfin.com/CA/Palo-Alto/3441-Kenneth-Dr-94303/home/940084?utm_source=android_share&utm_medium=share&utm_nooverride=1&utm_content=link

Its direct neighbor went for 2.2M albeit not as updated:

https://www.redfin.com/CA/Palo-Alto/3422-Kenneth-Dr-94303/home/1668550


#150

#151

Move to Nashville, young girl!


#152

The study highlights a trend of outward migration from the Bay Area, although until recently newcomers outnumbered those leaving.

Silicon Valley gained roughly 20,500 foreign immigrants last year, while 22,300 residents moved to other regions and states.

Between July 2015 and July 2018, about 64,300 Silicon Valley residents left the region, replaced by 62,000 immigrants from other countries, according to the Joint Venture index.

Since my SFHs are in SV, can feel the pressure on the rent. Singles go to SFC, and family with kids leave, who to rent SFHs? Those who can afford buy. Those who can’t afford to buy leave.

Job growth slowing in Silicon Valley

Hopefully is only a pause and not a trickle that would develop into an exodus. The article talks about old folks going to Sacramento; for Seattle and Austin, could be employees of mega cap posted there. Now, I am wondering, who are the techies staying in SV now? Various tech hubs attract a certain skill groups,

Austin - Semi
Seattle - ML/AI
Atlanta - Logistics
LA - Entertainment
SD - forgot
NYC - Fashion, Fintech


#153

Here is the single story building by builder “Finlay Inc”, pending within a week two open houses.

https://www.redfin.com/CA/San-Jose/2206-Bello-Ave-95125/home/1417697

Good elementary school, nice locations, sold fast.


#154

A house ( Tear Down ) came on market in Mountain View and received close to 20 offers

https://www.redfin.com/CA/Mountain-View/211-Monroe-Dr-94040/home/2121120?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

I think the market will go pick up after this rain and mud will stop .

All indications point to that


#155

What other indications have you observed?

That house is really something. Yes it has LA schools and surrounded by PA addresses, but that immediate area is kind of meh. Maybe it’s fb moving into the neighborhood? Hm.


#156

To be honest . I closely observed this open house , brokers tour and all the people salivating on this one . There were just Ton of people . 18+ offers is not a small number of offers …where do u think those 17+ who couldn’t win are going to go .


#157

Secondly this Rainy season is like traffic jam .

As a natural reaction , people will speed up just like when they when a traffic jam clears .


#158

I think BA RE will roar right back in 2019. Stock market should make new highs and both US and China are easing monetary policies.


#159

Buy buy buy!!! :smiling_face_with_three_hearts:


#160

Last year, prices were hiked and reduced the multiple bids. Most the homes reduced the price below market to create competition.

The 2206 Bello Ave was attractive and it went just like that. I had seen similar homes were sold at 2.7M and 3.1 M last year.


#161

I’m ok so long it doesn’t return the 11 month gain in Dec.