The biggest mistake millennials make is not buying a home


#22

They think the houses in Daly City are too old. You can’t win no matter what :roll_eyes:


#23

Most young people at work have zero desire to buy. They aren’t married yet and don’t have kids. Buying a home isn’t even on their radar.

California could free up inventory by making prop 13 only apply to primary residences. Landlords won’t be able to increase rent enough to cover the higher property tax. It’ll force landlords to sell creating supply.


#24

Wow!

A liberal Marcus!

Wow! :laughing::laughing::laughing::laughing:


#25

I’m not saying it should happen. Just saying it’d be the most effective way. Plus, I bet a lot of apartments would be converted to condos and sold. The whole idea of prop 13 was to protect home owners from being forced out due to high property taxes.


#26

As a steak connoisseur, I can say, ribeye is so much better than filet anyway.


#27

Yes, the Sunset is that good and cherished…:grinning:


#28

I’d argue that they could. It isn’t like competition that doesn’t have to pay the higher property taxes would force them to sell.

Be carefull what you wish for. This could happen and only embolden the state. There are plenty of looter/supporters of this concept.


#29

Agree. It would affect me very negatively but I am ok with it, keeps prices stable. So people can focus on more productive activities.


#30

No my friend hates the Sunset and prefers Richmond :slight_smile: I told her maybe she can get a property there in the next life.


#31

Millenials don’t really need to buy homes. They can just inherit from their parents. My cousin is a multi-millionaire now without having worked a single day… my uncle and his wife passed away and their life savings are automatically his… he’s still in his 20s and travels the world these days for pleasure… :wink:


#32

Bought my first home in Oakland over 40 years ago and was working in San Mateo. This is not a new issue in the BA. Newcomers don’t get it. Buy and wait, don’t wait then buy…


#33

I have a friend who has been thinking a lot about buying a house. They work in SF. Somehow she doesnt like the 700 to 800k houses that come up for sale in Walnut Creek nor does she like the houses in Orinda that range between 1 to 1.2m. Keeps saying these houses are old/need work/not in good shape. Instead keeps renting in Walnut Creek.


#34

She should buy a new condo or townhouse instead


#35

Buy a condo instead


#36

Well, if you work and live within the Fab 7x7 that might work. However, the Sunset has boomed over the years, while frankly the Richmond has not kept pace. It was always the notion that the Richmond was better than the Sunset (excluding Lake and Sea Cliff areas, avenues vs avenues) but it has flip flopped these days. Sunset neighborhoods are more spread out with wider streets and offers more street parking. Proximity to 280 is the big key.

This is from Jason Chan’s latest mailing:

See, even my theory that the Sunset has crept up to even Golden Gate Heights has been confirmed. Inner Sunset has already passed GGH and Central Sunset is almost there.


#37

I think he mails everybody in the Sunset. I get the exact same mail from him with these same stats 4 times a year… :smile:


#38

Those notepads come in handy…:grinning:


#39

But, if a “stupidvisor” would have said the above, we would read posters here calling him-her names.

:smiley::smiley::smiley::smiley::smiley::smiley:


#40

My friend’s preference is not gonna change based on the stats. The data just reflects what others want, not what she wants. I don’t have anything against the Sunset, but like her I do prefer Richmond over Sunset if I have the money. She for some reason has some serious beef against Sunset. I told her a couple years back to buy in the Outer Sunset when she still had the chance but she wouldn’t budge. Now she is completely priced out even with her parents’ help on down payment.

I avoid talking about RE with my friends these days. Honestly I feel sorry for their agents. They are keen on buying that sparkling new and affordable house or condo in the good parts of SF that doesn’t exist.


#41

Agree with Manch–Daly City–end of Bart, so good commute aspect. Might be some condos there.