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  #121  
Old Posted Mar 31, 2021, 11:55 PM
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Pedestrian Pedestrian is offline
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Here in downtown we are where people fled FROM, not TO. I have every confidence when the good aspects of city life return, they or others will be back and they may have trouble finding a place to live when they do. But meanwhile, here's how it is:


Zillow.com
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  #122  
Old Posted Apr 1, 2021, 12:08 AM
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It sure is getting pricey.

Earlier this month, the median price for a home in my town was $1,445,500:

Link: https://southpasadenan.com/finance-c...off-tax-rolls/

And back in December, one of the South Pasadena houses used in "Back to the Future" sold for $2.205 million.


Link: https://www.pasadenanow.com/weekendr...2-205-million/
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  #123  
Old Posted Apr 29, 2021, 9:12 PM
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Chase Unperson Chase Unperson is offline
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This shows just how far the coasts are separating from the interior of the county. Friends were telling me they couldn’t relocate from Kentucky to Denver because housing is too expensive. I just looked up and the median house price in Denver is 512k. That’s not even in the top 25 on that list.
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  #124  
Old Posted Apr 29, 2021, 9:19 PM
Camelback Camelback is offline
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Quote:
Originally Posted by Chase Unperson View Post
This shows just how far the coasts are separating from the interior of the county. Friends were telling me they couldn’t relocate from Kentucky to Denver because housing is too expensive. I just looked up and the median house price in Denver is 512k. That’s not even in the top 25 on that list.
It's not just the "coasts".

Housing price appreciation by % has been accelerating to levels not seen since 2006-2007. Even with the $20 trillion in money creation in response to Covid along with at all time record low interest rates, get ready and buckle up for a roller-coaster ahead because it's not sustainable without a marked correction.
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  #125  
Old Posted Apr 29, 2021, 9:44 PM
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Quote:
Originally Posted by Chase Unperson View Post
This shows just how far the coasts are separating from the interior of the county. Friends were telling me they couldn’t relocate from Kentucky to Denver because housing is too expensive. I just looked up and the median house price in Denver is 512k. That’s not even in the top 25 on that list.
ugh. when friends of mine moved to denver from kansas city and st louis - denver was only a hair more expensive at the time. you could find good stuff under 300k in the city.
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  #126  
Old Posted Apr 30, 2021, 12:05 AM
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Let’s see if the Midwest will profit from this. St. Louis or even Kansas City are more appealing to me than Denver or those trendy West metro areas.
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  #127  
Old Posted May 17, 2021, 10:22 PM
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The pandemic is burnishing California’s reputation for costly housing.

In the latest sign, home prices in the state shot past $800,000 for the first time in April, according to data released Monday by the California Association of Realtors. The new median value of $813,980 is up 7.2% from March and 34% from a year earlier, when pandemic lockdowns mostly froze the housing market.

The surge is, in many ways, a snapshot of what’s happening across the U.S., where tight inventory and low mortgage rates are fueling a rally in home prices. Last week, the National Association of Realtors reported that the median sale price for a single-family home rose to a record $319,200.

The gains are especially remarkable in California, which continues to see large increases, despite fears that soaring housing costs and the rise of remote work are driving people out of the state.

“Not only do skyrocketing home prices threaten already-low homeownership levels and make it harder for those who don’t already have a home to purchase one, it also brings to question the sustainability of this market cycle,” Jordan Levine, chief economist at the California Association of Realtors, said in a statement.

https://www.bloomberg.com/news/artic...bloombergdaily

But I thought everybody was leaving. That should lower demand. Has the "law of supply and demand" been repealed?
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  #128  
Old Posted May 18, 2021, 12:29 AM
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Yup, the state is on fire and the Bay Area and South Coast are absolutely sizzling.

Data for April was released today. The most expensive counties saw the biggest rise in sales overall, most doubling.

County...............April 2021 Median Price(Year-over-Year Sales Growth)
San Mateo County...........$2,001,000(+136.9%)
San Francisco County......$1,800,000(+165.7%)
Santa Clara County..........$1,650,000(+121.3%)
Marin County....................$1,610,000(+139.3%)
Alameda County...............$1,300,000(+88.4%)
Santa Cruz County............$1,265,000(+117.0%)
Orange County..................$1,100,000(+107.9%)
Santa Barbara County.......$1,100,000(+77.0%)
Contra Costa County...........$990,000)(+95.6%)
Mono County.......................$974,000(+233.3%)
Napa County........................$950,000(+89.2%)
Ventura County....................$865,120(+70.3%)
Monterey County.................$840,000(+76.0%)
San Diego County................$825,120(+55.2%)
San Luis Obispo County.......$799,950(+72.4%)
Sonoma County...................$777,500(+126.5%)
San Benito County...............$722,500(+128.6%)
Los Angeles County.............$707,050(+65.8%)
El Dorado County.................$654,750(+67.5%)
Placer County.......................$625,000(+80.6%)
Yolo County..........................$566,000(+47.4%)
Nevada County.....................$555,000(+113.9%)
Solano County......................$555,000(+21.4%)
Riverside County..................$545,500(+61.9%)
Mendocino County...............$528,000(+32.4%)
Sacramento County.............$490,000(+48.1%)
San Joaquin County.............$490,000(+18.1%)
Calaveras County.................$475,000(+45.6%)
Butte County........................$438,500(+26.1%)
Humboldt County.................$425,000(+49.3%)
Stanislaus County................$419,000(+15.9%)
Amador County....................$415,000(+89.2%)
Sutter County.......................$410,000(-6.3%)
San Bernardino County........$405,000(+38.8%)
Plumas County.....................$400,000(+86.4%)
Yuba County.........................$384,700(+4.2%)
Madera County......,..............$378,000(+29.5%)
Tuolomne County.................$367,000(+64.4%)
Del Norte County..................$364,170(-4.3%)
Tehama County....................$362,000(+16.7%)
Fresno County......................$355,000(+28.5%)
Mariposa County..................$343,200(+69.2%)
Shasta County......................$350,000(+35.6%)
Merced County.....................$325,000(+0.8%)
Lake County.........................$324,950(+57.4%)
Kern County..........................$315,000(+59.0%)
Tulare County.......................$309,600(+18.9%)
Glenn County........................$302,500(+60.0%)
Siskiyou County....................$302,500(+107.1%)
Lassen County......................$253,000(+53.3%)

Source: California Association of Realtors
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  #129  
Old Posted May 31, 2021, 1:38 PM
Okie1dokie2 Okie1dokie2 is offline
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I wonder if this list is only tracking house? Or condo & townhouses as well?
San Francisco- San Mateo-Marin - Santa Clara- Sonoma- Napa- solano-alameda- & contra costa 9 bayarea counties are getting out of control in prices, but it’s so beautiful living in most , not all of these areas.
San Mateo homes look like a tiny little boxes, San Jose looks like a smaller LA, San Francisco looks like living in southern France or Italy, Oakland & Berkeley look like l, well they both just blend in with each other. Concord/ Walnut Creek metro is growing so fast with shopping & restaurants, condo boom.
Napa city looks so dead, but the wine country is amazing to visit, Sonoma is amazing & outdoor fun in the summer time. Marin county can feel like paradise anytime of the year. Funny that bayarea has almost 9 million people. You drive from Vallejo to San Jose within 1.5 hours, or from San Jose to the city within an hours , or from Santa Rosa to San Francisco within an hour, eastbay Walnut Creek to San Francisco within 25-30 mins, or ride the BART subway ride is about an hour.
The bayarea isn’t that big compared to Houston- Chicago- LA, etc... we are a very dense area.
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  #130  
Old Posted May 31, 2021, 3:49 PM
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Quote:
Originally Posted by Okie1dokie2 View Post
I wonder if this list is only tracking house? Or condo & townhouses as well?
This is a good point. Per the Realtors website "...the MLS median price and sales data in the table below are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only."

So I think there are two takeaways - The sales data probably overstates the home prices in metropolitan counties, because the cheaper housing (condos/coops/townhouses) is omitted. SF might be an exception, where the numbers might be understated, because condos in the core may be equally or more expensive than detached SFH on the fringe.

A second takeaway is that the numbers may be a tad off in either direction (but probably overestimated) because this is a sampled estimate, and from a very biased source, which is highly incentivized to push a narrative of higher prices and residential shortage.
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  #131  
Old Posted May 31, 2021, 9:32 PM
jd3189 jd3189 is offline
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Quote:
Originally Posted by Pedestrian View Post
https://www.bloomberg.com/news/artic...bloombergdaily

But I thought everybody was leaving. That should lower demand. Has the "law of supply and demand" been repealed?
Dang, looks like post recession was the last great time to buy. Shit, missed it by a decade.
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  #132  
Old Posted May 31, 2021, 9:36 PM
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Originally Posted by jd3189 View Post
Dang, looks like post recession was the last great time to buy. Shit, missed it by a decade.
Just wait for the next "financial crisis" to hit "out of nowhere". IMO, probably a currency crisis, because we're printing trillions to pay for stuff.

Buy the Dip!


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  #133  
Old Posted Jun 5, 2021, 2:25 PM
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It all comes with the trade off but this is just my view that when it comes to expensive states... there is a massive trade off but one that is risk based.

What I mean by that is that expensive states WHERE there are the high quality job sectors PUNISH stupid mistakes but reward those that stick it out and climb up the ladder.

They might not be friendly to folks starting out but once folks reach a certain income, it becomes reasonable. And especially with duel income aka husband or wife... or husband and husband... however folks do it.

So places like California, NYC, NJ or even Seattle... the opportunity is very much there. High and I mean high quality jobs... opportunity but due to supply and demand.... a ton of demand... it punishes stupid behavior. If one does not save and does not play their cards right... it can be tough to live, expense wise.

Two income earners making at least 80k a year... at least... IMO should be fine expense wise. All about budgeting. Especially if they are getting a 600k house or 700k house.

I'd imagine the optimal family income for California would be like 125k a year. Two folks making like 90k a year each should be fine. Its the same thing with NYC.

Without sounding like an elitist... I still think California and even NY and NJ should focus on making housing affordable. Because risk can sometimes be good but I believe the uprising of the masses in the long run is better for the state. The well being and financial security of the masses is very much in the long term interest of "X" state.
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