Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I spoke with a guy epwho worked in operations for Amazon. He and his equally well paid girlfriend cannot afford to buy a home in Seattle. He said it is overseas investors offering cash that are part of the reason real estate is escalating. Tax 'em. And, don't allow them to buy citizenships.
Your acquaintances can't afford to buy because they don't have a down payment? Aren't paid all that well? Have poor credit? Or have outsized expectations? Seattle has a bunch of properties selling from the 400s to the 900s. With good income, that seems readily achievable.
I live in the Bay Area of California, scion of the purported housing bubble. Is it really a bubble? Who knows. There are a lot of good jobs in the region, and not enough new housing or transportation projects. If we have a housing bubble, it would probably be secondary to a tech bubble (and who knows if we have a tech bubble?).
Foreign buyers are a drop in the bucket compared to the households with two 6 figure earners where I live. I suspect the same is true of Seattle.
Your acquaintances can't afford to buy because they don't have a down payment? Aren't paid all that well? Have poor credit? Or have outsized expectations? Seattle has a bunch of properties selling from the 400s to the 900s. With good income, that seems readily achievable.
I live in the Bay Area of California, scion of the purported housing bubble. Is it really a bubble? Who knows. There are a lot of good jobs in the region, and not enough new housing or transportation projects. If we have a housing bubble, it would probably be secondary to a tech bubble (and who knows if we have a tech bubble?).
Foreign buyers are a drop in the bucket compared to the households with two 6 figure earners where I live. I suspect the same is true of Seattle.
The tech bubble is the reason why Seattle is becoming expensive. Microsoft, Amazon, Airbnb, Facebook, just to name a few.
But, Portland Oregon is also getting quite expensive even though tech industry isn't that big there.
The real estate price in San Juan Islands, Washington is also very high. There's practically no high paying jobs, and foreign buyers are very unlikely to invest there.
I remember the late 1960s when the price of residential housing was escalating. It must be a bubble, they said. It hindsight, it was baby boomers coming of age and moving out of the family home.
Too many at that time were moving out of the family home and into a hooch in Vietnam.
Perhaps millions live and work in very close proximity to you and think your claims are just as seriously out of whack as I do. It's not actually a matter of domicile, after all.
What exactly is out of whack? What claims am I making that are untrue? Please enlighten me. We own and manage properties in 4 cities in Orange County for about 23 years. I've seen and been through market changes though all those years. I have friends who own and manage properties in other cities. I think I have a little more insight than you ever will on tenancy, renting and property values in OC areas. Not to mention the different personalities I get to deal with on a daily basis at work and my business.
You're making plenty of assumptions about Californians and California.
06-24-2017, 03:17 PM
i7pXFLbhE3gq
n/a posts
There are certainly bubbly areas. San Francisco is already seeing prices fall. Oakland has been more stable but even there, we were able to negotiate the rent below what the leasing company was asking.
Reading the local news, it's pretty clear that a lot of the VC-funded tech startups that never made any money and never had a real business plan are starting to hit a wall and many are shutting down now that their funding sources have grown tired of throwing money into the trash.
Again, it's the volumes of pained, self-absorbed, "all about us" posts that have been splayed out here. The West Coast is not the center of the universe. You all as a group are not especially important or even interesting. Thinking that anyone else would or should actually be interested in your little local plights and dramas is the problem that I'm pointing out here. There are locality and topical forums and subforums that were created especially for you, so I ask again, why are you hanging your laundry out to dry over here instead?
So when tech companies succeed and grow, it is a "tech bubble". How ridiculous.
It's ridiculous indeed, but that's the sort of disconnnected mindset that overexposure to media screechers can instill in people.
06-25-2017, 08:25 AM
i7pXFLbhE3gq
n/a posts
Quote:
Originally Posted by Pub-911
Again, it's the volumes of pained, self-absorbed, "all about us" posts that have been splayed out here. The West Coast is not the center of the universe. You all as a group are not especially important or even interesting. Thinking that anyone else would or should actually be interested in your little local plights and dramas is the problem that I'm pointing out here. There are locality and topical forums and subforums that were created especially for you, so I ask again, why are you hanging your laundry out to dry over here instead?
Really, there's a "west coast" forum?
Here's a crazy idea. If you're not interested in the topic, why don't you simply not click on the link? No one is forcing you to read it, much less reply to it over and over.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
