Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

bloomberg.com

Post reply on HN
Print view View original

151–160 of 247 posts

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

#151

Post by seanmcdirmid »

seltzered_ wrote: post #83
BurningFrog wrote: post #75

Earlier quoted context omitted.

I understand that Seattle is still allowing housing construction though?

To some degree yes but there's still neighborhoods that will reject proposals. There's all sorts of debate on this (just yesterday saw windshield flyers against upzones) - to summarize in a fun way see https://twitter.com/YIMBYwiki/status/951255440481857536

I have family in West Seattle and can sympathize with the increased traffic that increased density has brought. Compared to 10 years ago, it is much more built up but no road infrastructure was upgraded so it has turned into quite a mess.

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

#152

Post by seanmcdirmid »

mulmen wrote: post #120
jorblumesea wrote: post #113

Earlier quoted context omitted.

2004, while I agree it's "not completed ruined", it feels like we're slowly pushing out much of the middle class, and with it, artists and other culturally important folk. Give it 10 years and the only people that will be able to afford the city is one specific income bracket. I think if you moved to the city post 2010, you probably don't realize what "old Seattle" was like.

There's an art gallery across the street from me. Many coffee shops and restaurants have locally created art for sale. There are all kinds of quirky performances on the street and in local businesses. I can't even begin to find time to attend all the live music shows I would like. Who are these other "culturally important folk" and why are they so important? Not denying they exist, I just don't know who you are talki…

Seattle in the early/mid 90s had a grittier grungier feel. Before that, I remember when the Alaskan ferry docks were still downtown (today they are in Bellevue), it was much more of a lumber jack/plaid/fishing boat feel back then (early 80s and late 70s). Of course, my dad and mom’s impression of Seattle was quite different from mine own, as well.

Change is just constant I guess.

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

#153

Post by seanmcdirmid »

mulmen wrote: post #71
fred_is_fred wrote: post #49

Earlier quoted context omitted.

We have no avocados here. This isn't the state you are looking for. Move along. Move along.

I'm from a small town in Idaho. I recently went back to visit family. Everyone was eager to tell me that the direct flight from Seattle would be cancelled in favor of a town 45 minutes away. The local airport which used to serve the region is losing commercial service to the largest metro area in the region. Getting out of town will take an extra transfer and a 45minute to two hour drive. That town has stagnated and…

You don’t even have to go to small town Idaho, even Spokane is still economically struggling, though at least they still have plenty of Seattle directs.

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

#154

Post by seanmcdirmid »

rubicon33 wrote: post #30
pcwalton wrote: post #28

Earlier quoted context omitted.

I just bought a condo in SF myself. It was an agonizingly difficult decision that I had been contemplating for years and years before finally taking the plunge. Some of what drove my decision was that most experts don't believe that the Bay Area real estate market is a bubble [1] [2]. (I wouldn't wish the anxiety around this decision on anyone, least of all future generations, which is why I've resolved to buck the t…

If you're in it for the long haul, then it was a very wise decision. The bay area, specifically San Francisco, is one of the best real estate purchases anyone can make. It's geographically constrained and has historically shown to gain value over the past 100 years CONSISTENTLY. There will be some small bumps in the road here or there, but when you look back in 20, or 30 years, I can almost guarantee you're going to…

The 1990s weren’t that long ago. Anyone who believes markets can rise forever is in for a shock when they slide.

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

#156

Post by imtringued »

taurath wrote: post #137
jrs95 wrote: post #69

Earlier quoted context omitted.

Maybe Colorado should implement some of what Hunter S. Thompson had in his platform for Sheriff of Aspen: 1. Rip up all city streets with jackhammers and sod the streets at once.... All public movement would be by foot and a fleet of bicycles, maintained by the city police force. 2. Change the name 'Aspen', by public referendum, to 'Fat City'. This would prevent greedheads, land-rapers and other human jackals from ca…

I honestly think that a more modern version of "intentional communities" would really appeal to a lot of people. Cheap housing, walk able everything including grocery stores, a couple locally owned industries or two, and the support people to support them - it literally sounds like the dream to me. Suburbs are exclusion zones, and cities are so incredibly expensive and chaotic. I'm sure there's 1000 economic and soci…

I'm wondering if chinese planned cities are designed to be bicycle and pedestrian friendly.

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

#157

Post by sokoloff »

toast0 wrote: post #132
tehlike wrote: post #23

Earlier quoted context omitted.

Dont forget tax benefits.

You can pretty much forget about tax benefits, thanks to the 2017 federal tax plan that limits deductability of state and local taxes and reduces the cap on mortgage interest deductability. You may still get a deduction, but it's not going to be that much higher than the standard deduction.

For landlords, those new limits do not apply; they remain deductible, just like other qualified business expenses (which makes sense IMO, which is why I support the mortgage interest deduction, to keep owner occupants on relatively equal footing with landlords when contemplating purchasing property).

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

#158

Post by sokoloff »

Reedx wrote: post #109
nradov wrote: post #44

Peter Thiel claims that the majority of capital poured into Silicon Valley startups ends up flowing to landlords. https://www.sfgate.com/expensive-san-francisco/article/peter...

Yep. VC -> Startup -> Employee -> Landlord. Everyone blames tech workers, but they're not the ones raising the prices. Most of their money disappears into rent.

If they’re the ones demanding housing at a rate that outstrips the supply, then they are the ones causing prices to rise: they’re just not the ones editing the listings.

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

#159

Post by sokoloff »

htormey wrote: post #20
ninkendo wrote: post #13

Earlier quoted context omitted.

I believe the pricing growth is fueled by tech wage growth which is unsustainable. I also think the tech sector in general (especially any company that is driven by ads) is due for a major correction soon, if not a full burst. I can’t tell you exactly why I feel it, it’s more an emotional thing, but I don’t see a better strategy than that when trying to predict long-term housing prices.

“I also think the tech sector in general (especially any company that is driven by ads) is due for a major correction soon, if not a full burst.” Why do you say that? Haven’t all the tech companies been performing well across a variety of metrics these last few years?

Ad money ultimately flows from consumer (mostly) discretionary demand. If we were to see a significant pullback in consumer discretionary spending, you’d see a lagging pullback in ad spending.

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

#160

Post by htormey »

ninkendo wrote: post #108
htormey wrote: post #50

Earlier quoted context omitted.

It really doesn’t feel like a correction right now at least in the tech sector: - The job market is unbelievably hot. - I don’t see why any of the big tech companies will turn in outrageously bad numbers this quarter. - Everyone I talk to is hiring. - A bunch of people at startups that went public or are about to go public will unlock a lot of stock really soon. Yet I still feel a bit nervous. I’ve been in the Bay Ar…

> I don’t see why any of the big tech companies will turn in outrageously bad numbers this quarter. Really? You don’t see why FB may post a decline in users, after all the pushback they’re getting? Why Twitter might enter a spiral soon? These just seem impossible to you? The rest of your comment seems like what people could easily have said in September of 1929. Not saying a crash like that is coming, but it literall…

“Really? You don’t see why FB may post a decline in users, after all the pushback they’re getting? Why Twitter might enter a spiral soon? These just seem impossible to you?”

Not really sadly. I’ve been monitoring the App Store rankings through out all of the recent scandals. The only time the top 10 changed recently was due to March madness and that golf tournament thing. The main apps in the top 5 have remained social right through out.

Even in the social category, I didn’t see signal or any privacy related apps make it into the top 50.

I also bet that large portions of the public don’t even know Facebook own Instagram and it’s growing like crazy. Same with WhatsApp.

I can also see a scenario where any regulation that does occur, short of breaking up Facebook or google, benefits the incumbents. I don’t think they are gonna be broken up in the USA anyway due to the way anti trust law is written.

Post reply on HN