Home Values Are Rising by $800 a Day in San Jose • Hacker News Board

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

#171

Post by ows_vs_obama » Tue, Apr 10, 2018, 2:13 PM UTC

seanmcdirmid wrote: post #154

rubicon33 wrote: post #30

Earlier quoted context omitted.

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.

They can rise forever, thanks to inflation.

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

#172

Post by newfoundglory » Tue, Apr 10, 2018, 2:25 PM UTC

seanmcdirmid wrote: post #152

mulmen wrote: post #120

Earlier quoted context omitted.

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.

I had to double check, but you mean Bellingham, not Bellevue.

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

#173

Post by megaman22 » Tue, Apr 10, 2018, 2:27 PM UTC

School-Cotton wrote: post #106

MrL567 wrote: post #31

Earlier quoted context omitted.

https://blog.codinghorror.com/why-cant-programmers-program/ Considering articles like this and the fact FizzBuzz tests are even a thing I wouldn't be so sure. I get your point, but the problem is while with enough time one can get it, quite a few people are going to hit a wall and not be able to pass it.

That article was written over 10 years ago

Has anything significant changed? We see the same phenomenon every time we try to hire developers.

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

#174

Post by newfoundglory » Tue, Apr 10, 2018, 2:31 PM UTC

tehlike wrote: post #130

AceJohnny2 wrote: post #117

Earlier quoted context omitted.

People absolutely saw it coming. I remember Geithner making comments to the effect of "we aren't ready yet!" when the bubble finally broke. The Fed was already making plans to shore up the affected banks, but hadn't yet built up the funds to do so effectively. But then it depends on which timescale we're talking about.

When did they notice, and why did the housing prices go up and away years leading to 2008?

In December 2007 in Australia I saw a presentation on the coming collapse of the US subprime housing market - in a lunchtime seminar given by a (tech) colleague for interests sake.

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

#175

Post by tjr225 » Tue, Apr 10, 2018, 2:34 PM UTC

saratogacx wrote: post #105

tjr225 wrote: post #84

Earlier quoted context omitted.

I moved out here last year - I do not live in Seattle proper, but I work there. I love Seattle but it is a crazy town that to me seems like it must've always been in flux. For the love of God do not move here if you don't want to be stressed out about housing costs and don't want to deal with an insane commute regardless of almost anywhere you live. I'm trying to find it but there was this old video recording from ei…

There are a lot of them from an old tv show called Almost Live. Here's a good spot to start from '97 https://www.youtube.com/watch?v=Tr5-Obhi1pE

That is the exact video I was searching for! Thank you!

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

#176

Post by 52-6F-62 » Tue, Apr 10, 2018, 2:39 PM UTC

seanmcdirmid wrote: post #152

mulmen wrote: post #120

Earlier quoted context omitted.

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.

The Seattle of Harry and the Hendersons!

I visited with my girlfriend in 2015 and stayed in the suburbs where her girlfriend's guy was working for MS. The burbs seemed pretty peaceful and green (older suburb—but I don't know the city). Maybe they were in Redmond proper.

It was a beautiful area, and I could definitely live with that. It's too bad it's pricing people out like that.

We were there only too briefly so we just hit some touristy options like the market and some hipster arcade bar, the Army/Navy, etc.

We live in Toronto and it felt pretty similar overall (though I'd give major points to Seattle for scenery). The same thing is ultimately happening here, too, though. Rents are skyrocketing but wages aren't.

With a lot of the political commotion and the desire for more outdoors activity, I haven't seen much of Canada mentioned in this thread and I'm curious if its landed on the map for anybody. And where?

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

#177

Post by charlesdm » Tue, Apr 10, 2018, 2:42 PM UTC

jostmey wrote: post #168

sokoloff wrote: post #158

Earlier quoted context omitted.

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.

The demand for housing is not the problem. It's the supply that is the problem. The supply is being kept artificially low

Because if you're a landlord with significant property holdings, what would you do? You'd lobby the government not to increase supply, of course.

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

#178

Post by 0x445442 » Tue, Apr 10, 2018, 2:42 PM UTC

blondie9x wrote: post #98

We need to build much more dense places that people can actually own. The housing situation is not sustainable. Many people end up living on the streets because affordable housing isn't available. There is too much demand and we aren't building dense enough to utilize the land available.

There's plenty of land in this country. I see no compelling reason why Google can't open up more offices in the fly over states.

I'm guessing, if offered the same salaries, Google could find plenty of willing takers to move.

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

#179

Post by charlesdm » Tue, Apr 10, 2018, 2:45 PM UTC

usaar333 wrote: post #148

AceJohnny2 wrote: post #14

Earlier quoted context omitted.

> We’re in a bubble that’s ready to burst IMO. Not necessarily. Bubbles are based on speculation. The last bubble was powered by sub-prime mortgages, which is what burst. The Bay Area has the problem of ongoing immigration, a very highly paid demographic, and housing market that isn't keeping up. Simply, Offer Offer isn't looking to catch up any time soon [1], and demand crashing would mean the tech economy will have…

Rents are flat the last three years. Values are up by over 30%. That difference feels speculative..

The question also is, have sales kept up at those values?

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

#180

Post by erispoe » Tue, Apr 10, 2018, 2:45 PM UTC

11thEarlOfMar wrote: post #169

Looks like it's all about inventory. No one is selling their home in Santa Clara County (San Jose)[0]: Homes for sale in March 2016: 1,254 Homes for sale in March 2017: 934 Homes for sale in March 2018: 516 [0] http://scc.rereport.com/market_reports

It's artificially constrained supply. It's really hard to build new housing in the Bay Area.