Home Values Are Rising by $800 a Day in San Jose

#1

Post by nopriorarrests » Mon, Apr 09, 2018, 11:48 PM UTC

Home Values Are Rising by $800 a Day in San Jose
bloomberg.com

Re: Home Values Are Rising by $800 a Day in San Jose

#2

Post by pascalxus » Tue, Apr 10, 2018, 1:47 AM UTC

They really undersold it. 800$ per day is what it earns in appreciation, but it earns even more when you rent it out.

If you have a house on the penninsula, I'd say it's time to cash out and move to the midwest and retire. ;)

Re: Home Values Are Rising by $800 a Day in San Jose

#3

Post by doseofreality » Tue, Apr 10, 2018, 1:49 AM UTC

Queue up some saying about trees, sky, growth, etc.

Re: Home Values Are Rising by $800 a Day in San Jose

#4

Post by ninkendo » Tue, Apr 10, 2018, 1:50 AM UTC

Lived in a rental house in SJ for 7 years now watching prices go up and deciding to sit it out, after having lost 30% on my house in the midwest years ago.

I’m kicking myself for not buying earlier, but not a chance you’d get me to buy in now. We’re in a bubble that’s ready to burst IMO.

Re: Home Values Are Rising by $800 a Day in San Jose

#5

Post by wyclif » Tue, Apr 10, 2018, 1:50 AM UTC

And they're ugly townhouses too, the type that have been slapped up quickly, McMansion style. The Spanish roof tile thing will never die, even when it's applied to a townhouse.

Re: Home Values Are Rising by $800 a Day in San Jose

#6

Post by abritinthebay » Tue, Apr 10, 2018, 1:52 AM UTC

wyclif wrote: post #5

And they're ugly townhouses too, the type that have been slapped up quickly, McMansion style. The Spanish roof tile thing will never die, even when it's applied to a townhouse.

That's pretty much most of the south bay in a nutshell tho.

Re: Home Values Are Rising by $800 a Day in San Jose

#7

Post by pxeboot » Tue, Apr 10, 2018, 1:52 AM UTC

ninkendo wrote: post #4

Lived in a rental house in SJ for 7 years now watching prices go up and deciding to sit it out, after having lost 30% on my house in the midwest years ago. I’m kicking myself for not buying earlier, but not a chance you’d get me to buy in now. We’re in a bubble that’s ready to burst IMO.

I agree, it seems crazy to buy now. But will we actually see a crash, or just a period of stagnation?

Re: Home Values Are Rising by $800 a Day in San Jose

#8

Post by abritinthebay » Tue, Apr 10, 2018, 1:53 AM UTC

Sounds about right. Similar around the Bay in general tbh. My wife and I bought a place in Oakland in December and it's already up 20%.

That's insane.

Re: Home Values Are Rising by $800 a Day in San Jose

#9

Post by [deleted] » Tue, Apr 10, 2018, 1:58 AM UTC

[deleted]

Re: Home Values Are Rising by $800 a Day in San Jose

#10

Post by aphextron » Tue, Apr 10, 2018, 2:03 AM UTC

ninkendo wrote: post #4

Lived in a rental house in SJ for 7 years now watching prices go up and deciding to sit it out, after having lost 30% on my house in the midwest years ago. I’m kicking myself for not buying earlier, but not a chance you’d get me to buy in now. We’re in a bubble that’s ready to burst IMO.

>We’re in a bubble that’s ready to burst IMO

Why do you think that, though? Is it solely because prices are rising very quickly? There's no indication whatsoever that people will stop buying any time soon. Homes are selling >110% of asking price for all cash within days, and supply is essentially fixed.