Housing Values May Drop Over 50% In Silicon Valley (homes, landlord)

[Hacker1234]

yeah 2000 came and went, home prices did not crash.

[Perma Bear]

Originally Posted by Hacker1234

Dont know what happened in 2000, but in 2008 it was the banks that caused the issue and it was nationwide.

Posts like this are why the tech bubble is here.

[Hacker1234]

The only thing that will make the tech go away is if these workers can start working remote 100 percent of the time. Then yes boom there goes the market.

[Perma Bear]

Originally Posted by Hacker1234

The only thing that will make the tech go away is if these workers can start working remote 100 percent of the time. Then yes boom there goes the market.

It's too bad we haven't invented the telephone, the internet, mail, and jet aircraft.

[JohnSoCal]

Originally Posted by silverkris

2000 was when the dot com boom started to go bust - and so it was more of a cratering in demand rather than problems in the financial system.

Prices didn't drop that much in 2000 and had already recovered in 2002. We sold our home in 2002 for
$200k more than we paid for it in early 2000. The tech bubble didn't really pop until 2001 which happened to be my best year.

[GSR13]

Originally Posted by Hacker1234

All I know is that there are enough high income earners to keep the market where it is at.

And Chinese money launderers. Not to mention low interest rates.

[silverkris]

Originally Posted by JohnSoCal

Prices didn't drop that much in 2000 and had already recovered in 2002. We sold our home in 2002 for
$200k more than we paid for it in early 2000. The tech bubble didn't really pop until 2001 which happened to be my best year.

Hah, you're right, now come to think of it, I got laid off in 2001 when my company went down. I guess you did real well that year 'cause that year was a world of hurt for a lot of folks, at least in the telecom sector. Didn't really notice that much of a change in housing prices - whereas 2009 there was a bigger delta overall.

[JohnSoCal]

Originally Posted by silverkris

Hah, you're right, now come to think of it, I got laid off in 2001 when my company went down. I guess you did real well that year 'cause that year was a world of hurt for a lot of folks, at least in the telecom sector. Didn't really notice that much of a change in housing prices - whereas 2009 there was a bigger delta overall.

I never got hurt by the tech crash. I was a Software contractor. In 2001 I worked at a company in Sunnyvale at a high hourly rate and a lot of hours. In 2002 I got a great project at Sandia.

You didn't work at Nortel by any chance did you?

[Hacker1234]

I didnt get hurt by it either, my career just kept taking off.

[silverkris]

Originally Posted by JohnSoCal

You didn't work at Nortel by any chance did you?

Nope, but it was pretty shocking to see a company like Nortel just collapse (in the Bay Area their presence was through their acquisition of Bay Networks). I'm glad that I didn't join them out of MBA school. I was actually thinking of moving to the DFW area prior to 2001 because Nokia, Ericsson and Nortel all had major offices there, and Plano, Richardson and Irving was (and still is) a heckva lot less pricey than Sili Valley. But I'm glad I stayed and stuck it out here.

Because of all the uncertainty and insecurity with the job situation, we made a decision to pay off our mortgage early several years later, and we're glad we did.