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Old 06-04-2016, 05:01 PM
 
4,694 posts, read 2,064,706 times
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Wha! I did not predict this accurately. In my 8-9 years living in Oakland, I only went to deep east Oakland once and that was less than a year ago. Once us gays move in - it's all over.

"In the past, many homebuyers wouldn't venture into flatland Oakland neighborhoods east of 66th Avenue and below Interstate 580. Constant news reports about shootings and other violence helped scare away prospective buyers. But now, properties in those areas are sparking bidding wars."

Source: Sizzling housing: Deep East Oakland lures Bay Area homebuyers - EastBayTimes.com
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Old 06-04-2016, 06:42 PM
 
491 posts, read 442,832 times
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Crazy. I think I would rather live in Richmond, but maybe my views are prejudiced from back when International was East 14th.
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Old 06-04-2016, 06:50 PM
Status: "The Jesus of the Sacramento Forum" (set 28 days ago)
 
Location: where the good looking people are
3,704 posts, read 2,768,453 times
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You can probably find nonsense like this posted in this forum from 2006.

That neighborhood will be the first to tank when the economy goes bust again.

"Buy now or be priced out forever!"
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Old 06-04-2016, 07:12 PM
 
4,694 posts, read 2,064,706 times
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Quote:
Originally Posted by smashystyle View Post
Crazy. I think I would rather live in Richmond, but maybe my views are prejudiced from back when International was East 14th.
I don't know much about Richmond. I rode my bike up there along the trail that goes along the BART tracks. The section I rode threw was rough and very filthy. Trash everywhere - but that was just one section (maybe the iron triangle???) I know the bay front area is really nice and I'm sure other areas. My concern would be the refineries and the potential health consequences. We have enough of them in Oakland!

Quote:
Originally Posted by WizardOfRadical View Post
You can probably find nonsense like this posted in this forum from 2006.

That neighborhood will be the first to tank when the economy goes bust again.

"Buy now or be priced out forever!"
Are you disputing that people are overbidding on homes in an area that middle class people would never have ventured before due to extreme poverty and violence in this area? I know that homes were selling very high in east oakland and the crash was bad. You need to understand the dynamics of what is going on today and what was occurring back in 2006. Very different. Although, I agree, this will most likely be the first to fall in value. We'll see!
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Old 06-04-2016, 07:22 PM
 
Location: Springfield, Ohio
12,420 posts, read 10,800,694 times
Reputation: 11485
RIP Oakland
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Old 06-04-2016, 08:25 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
31,183 posts, read 56,810,773 times
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I remember when my grandparents sold and moved to San Leandro from 88th Ave near Plymouth back in the 1980s after the third burglary (while they were home). I went by there a couple of years ago and it looked just the same, except that every house had bars on the windows and wrought iron fences and gates. Hard to imagine gentrification there.
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Old 06-04-2016, 08:38 PM
 
4,326 posts, read 2,800,455 times
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Quote:
Originally Posted by Oakformonday View Post
I don't know much about Richmond. I rode my bike up there along the trail that goes along the BART tracks. The section I rode threw was rough and very filthy. Trash everywhere - but that was just one section (maybe the iron triangle???) I know the bay front area is really nice and I'm sure other areas. My concern would be the refineries and the potential health consequences. We have enough of them in Oakland!



Are you disputing that people are overbidding on homes in an area that middle class people would never have ventured before due to extreme poverty and violence in this area? I know that homes were selling very high in east oakland and the crash was bad. You need to understand the dynamics of what is going on today and what was occurring back in 2006. Very different. Although, I agree, this will most likely be the first to fall in value. We'll see!
Yes. Our bubble is based on "unicorns" that can't make a profit to save their life. I swear a VC would give a lemonade stand 1 million dollars if the kid said "new paradigm" or "disruptive technology"
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Old 06-04-2016, 09:05 PM
 
4,694 posts, read 2,064,706 times
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Quote:
Originally Posted by Perma Bear View Post
Yes. Our bubble is based on "unicorns" that can't make a profit to save their life. I swear a VC would give a lemonade stand 1 million dollars if the kid said "new paradigm" or "disruptive technology"
???Not sure how your comment relates to the article. There is no mention of VC money. Aren't you the one that complains about a lack of affordable housing? Here are homes sub 500K. You should be happy, yes?
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Old 06-04-2016, 09:18 PM
 
1,074 posts, read 928,547 times
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Nobody remembers what happened in the neighborhoods of Oakland near Berkeley back in 2008?

It was the first area to suffer after the crash hit.

History is going to repeat itself, only in a different area.

The problem with these "hot" places, is that people that don't have the means to buy elsewhere flock there. So, they're already stretched thin.

People who don't have much to begin with, and have with very little equity in a home will just walk away from an underwater mortgage.

With the lowering of lending standards, people moving into once-undesirable areas, return of the 3% down mortgage, and all of the inventory shortages, it's 2006/2007 all over again.
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Old 06-04-2016, 10:59 PM
 
491 posts, read 442,832 times
Reputation: 680
Quote:
Originally Posted by Oakformonday View Post
I don't know much about Richmond. I rode my bike up there along the trail that goes along the BART tracks. The section I rode threw was rough and very filthy. Trash everywhere - but that was just one section (maybe the iron triangle???) I know the bay front area is really nice and I'm sure other areas. My concern would be the refineries and the potential health consequences. We have enough of them in Oakland!
Parts of Richmond are rough and dirty. I'm not surprised that's what you saw on the bike trail. It's not the worst area, but far from the best. I would also be concerned about living too close to the Chevron refinery, which is on the west edge of town.

The Iron Triangle is basically bordered by 580, the Richmond Parkway, and the train tracks that follow Carlson Blvd. You can see the two edges that stand out by train tracks on a map pretty easily. I don't think the Iron Triangle is as dangerous as it was 20 years ago, but it's still a pretty run down area with dilapidated housing stock, etc. Honestly, the only places in Richmond that are similar in crime to Deep East Oakland, in my opinion, are North Richmond (which is not actually part of Richmond, but an unincorporated area west of San Pablo) and the projects. Richmond's violent crime rate is less than half of Oakland's: U.S. crime drops again, but gains uneven in Bay Area - San Francisco Chronicle

I'm not saying Richmond is any great shakes, although there are some nice parts of the city, and other parts that are decent options for relatively low-cost housing. And I would probably choose most of Richmond over Deep East Oakland, but am grateful I don't have to make that choice.
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