I am seeing posts on Blind trying to sucker people into buying SFH. Folks doing that are sitting on empty houses trying to unload them to the next set of suckers. I can’t see the good people of blind get suckered by these conniving con-artists. So, here is a PSA - If you are thinking of buying real estate specially in the Bay Area, Seattle, Austin or Phoenix, read the link below (analysis from Goldman) first and make your own decision. The only reason you should buy in this market is if you are going to be kicked out of your rental apartment and there is nothing available to rent, essentially making you homeless. n all other situations DONT - https://nypost.com/2023/01/24/goldman-sachs-sees-a-crash-for-home-values-in-these-4-cities/ #housing #mortgage #sanfrancisco
So when will you buy, when article say you to buy?
Nope, when prices go back to pre-pandemic level + 5% for every year since then. Traditionally RE prices track inflation. So that formula should be pretty close to a reasonable RE price
So never then coz prices go brrrr
Rental market is booming. Large companies like JP Morgan is pivoting to buying rental properties investments by the boat load. Maybe not in major cities because it’s still too expensive but I think there’s definitely lots of opportunities out there if you are looking for investment props.
Wasn't that early last year, is the trend still going? I heard national rental report said price increase is de-accelerating.
Most people believe MSM coolaid and miss all opportunities if these economists know what they fart out , we would never have any crashes in any sector/market. They could have been identified before they happen.
Yeah I’ve been seeing a few people posting about jumping into a new real estate purchase right now and honestly it’s silly. We just had a huge layoffs that haven’t made their way through the economy. Rates have doubled in less than a year. Not to mention the Fed has said that housing is going to take a hit.
See above. It’s Goldman Sachs. I just posted New York post because Goldman’s is behind a paywall. You can google - “bay area housing market crash Goldman Sachs” and get the link to the report yourself
Yeah, at least they have an economic model they are using to predict the crash. What’s your reasoning for it going up? TikTok influencers telling you housing is going up in 2023? Or your gut feeling?
Only buy when the home price is close to the avg price over time in your locality. Most places with tech offices are really high compared to that.
The thing with Bay Area real estate is that there are too many people always on the fence for buying a home. As soon as interest rates or home values drop, these people go in frenzy causing bidding wars on desirable homes never letting prices go down. I am in Hayward hills (worse public schools) and a home in my neighborhood received 12 offers a week ago and will be closing 150k over asking.
Yeah, but had you lived thru 2007-2008 in Bay Area you would know that these same things were happening in early/late 2007 right before the crash
Do you even understand why 2007-2008 happened? The causes of that crash have nothing in common with today’s macroeconomic conditions. 🤦♂️
As usual Goldman sucks
They predicted S&P 500 would finish 2022 at 5100 How do you not trust them ?
Real estate is location dependent. What will happen in Idaho might not happen in Bay area. If you see OP’s other posts, Hes apparently a multi millionaire who is better and richer than anyone else but he has time to create posts everyday about why one shouldn’t buy a home 😂
Welcome Apple. You here for the shellacking you got on the other post? I work at Apple. I am important. lol. I am still laughing.
i am also still laughing. Such a high Nw millionaire posting everyday on blind. I want to learn from you 😂😂😂 “ oh I am warren buffet. I have 3 employees . Oh i have so many millions “ lol
ah yes, be compliant - do what a newspaper ran by cuks tells you to! If you don’t listen, you are stupid and everyone will hate you!
I can post the original Goldman article but that’s behind a paywall. New York post is just a medium. You can link on the link on there for Goldman’s report
Mind sharing the link? I clicked through 3 links and didn't find the report