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Old 10-22-2015, 09:27 AM
 
Location: Sputnik Planitia
7,826 posts, read 11,734,655 times
Reputation: 9045

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Quote:
Originally Posted by HockeyMac18 View Post
Weather, which is nice here, is really not as big of a factor as people think.
I concur. Weather is not that important. If you look at some astronomically expensive places around the world such as London, New York etc. they all have horrible weather! These places are expensive because they are financial centers of the world and the place is just built out and no new space to build not because the sun is shining. There are many parts of California that are dirt cheap, the sun shines there as well but they are in the sticks.
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Old 10-22-2015, 12:44 PM
 
13,711 posts, read 9,187,048 times
Reputation: 9840
Quote:
Originally Posted by Electrician4you View Post
Which also popped like it did everywhere else. The prices are what they are because of the tech co's out there now. When guys are starting at 150k a year rents go up. High pay means high cost of living.
It took years for the bubble to pop and then roughly three years later it skyrocketed again.

If someone had bought a house in most part of SF during the peak of the bubble, that house has appreciated significantly today.

So the narrative that if the tech bubble pops it will cause a drastic depreciation that will wipe you out for the long haul is not true if you look at historical data. If the point is that you may have missed out on a future drop then yeah, good point; that's not your point is it?
.
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Old 10-23-2015, 09:43 AM
 
4,236 posts, read 8,098,127 times
Reputation: 10208
There’s way too much easy money floating around and we’re in an asset bubble that is larger than housing.
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Old 10-23-2015, 07:04 PM
 
1,271 posts, read 2,584,985 times
Reputation: 642
Quote:
Originally Posted by Maceart View Post
Prices are inflated here in the SF Bay Area because of...

1) (High paying) jobs available.
2) The weather.
A lot of people who work in the Valley in Tech are not making the absurd wages one expects all to be making in Tech.

http://www.buzzfeed.com/carolineodon...y-p#.iqMX7W52k

Quote:
Originally Posted by Maceart View Post
In every Mediterranean type climate in the world there is a housing "bubble". You can't beat perfect climate.
Not in Southern Italy, of course no jobs.
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Old 10-23-2015, 07:52 PM
 
337 posts, read 404,504 times
Reputation: 457
Quote:
Originally Posted by blauskies View Post
A lot of people who work in the Valley in Tech are not making the absurd wages one expects all to be making in Tech.

http://www.buzzfeed.com/carolineodon...y-p#.iqMX7W52k



Not in Southern Italy, of course no jobs.
Yeah southern Spain has the same weather as California and warm Mediterranean water to boot unlike the frigid Pacific water. But they have no such bubble and no jobs either.
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Old 10-24-2015, 12:15 AM
 
30,873 posts, read 36,804,277 times
Reputation: 34451
Quote:
Originally Posted by Maceart View Post
Prices are inflated here in the SF Bay Area because of...

1) (High paying) jobs available.
2) The weather.


In every Mediterranean type climate in the world there is a housing "bubble". You can't beat perfect climate.
Correction: Prices are inflated because they don't build any freakin' housing thanks to NIMBYism.
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Old 10-24-2015, 11:50 AM
 
Location: Bay Area
3,981 posts, read 8,960,403 times
Reputation: 4728
Quote:
Originally Posted by Maceart View Post
Prices are inflated here in the SF Bay Area because of...

1) (High paying) jobs available.
2) The weather.


In every Mediterranean type climate in the world there is a housing "bubble". You can't beat perfect climate.
Definitely not the weather. Ireland also went through a housing bubble even larger and more devastating than the one in the Bay Area during the 2008 and beyond. Ireland built up tons of housing estates to keep up with demand (yet it didn't effect house prices at all). Now it's a country full of "ghost" housing estates with nobody living in them. Again, weather has no bearing if you're at all familiar with Irish weather.

Valérie Anex photographs “ghost estates” in Ireland in her series, “Ghost Estates.”
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Old 11-07-2015, 12:43 PM
 
46 posts, read 49,537 times
Reputation: 72
Quote:
Originally Posted by Maceart View Post
Prices are inflated here in the SF Bay Area because of...

1) (High paying) jobs available.
2) The weather.


In every Mediterranean type climate in the world there is a housing "bubble". You can't beat perfect climate.
It's not the weather. We've had the same weather for ages, but not these prices.
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Old 11-07-2015, 01:47 PM
 
4,307 posts, read 6,241,064 times
Reputation: 6102
Quote:
Originally Posted by blauskies View Post
A lot of people who work in the Valley in Tech are not making the absurd wages one expects all to be making in Tech.
True, but there are enough very high wages in tech to prop up the prices significantly. Couple this with development restricting NIMBY'ism and people not selling due to Prop 13 benefits and only about 15% of people can afford to buy a home here in the Bay Area.
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Old 11-07-2015, 03:29 PM
 
1,271 posts, read 2,584,985 times
Reputation: 642
Quote:
Originally Posted by roadwarrior101 View Post
True, but there are enough very high wages in tech to prop up the prices significantly. Couple this with development restricting NIMBY'ism and people not selling due to Prop 13 benefits and only about 15% of people can afford to buy a home here in the Bay Area.
Most of those who bought, got in a few years ago and many could not do it again, especially within the limits of Palo Alto. I did some consulting work on the side last year for a guy who was living in a rented home in Palo Alto, another start-up, I looked up the address prior to meeting with him and a rental ad came up, $10K/month. I know the guy was loaded, sold some Software Company recently, 30 something and could have easily bought, but after getting to know him, he had the belief the bubble was going to pop soon.
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