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The average home price in my area make me queasy. Sure, it's one of the nicer places to live IMO but at this point I'm just looking at places online and asking myself who the hell is buying these houses? The "zestimate" on my house blows my mind because I can 100% tell you my house isn't worth it. There's something really unnatural going on with Bay Area housing prices...
Dallas home prices is all speculation. Strictly Dumpling, YT food vlogger, just moved into an apartment in Dallas area. It is a huge complex, with many amenities. It is basically completely empty though.
Dallas, Texas, actually all the flyover states have massive amounts of space to sprawl as far out as they need. They can build endlessly. That should drive prices down in Dallas, and just about anywhere in the Great Plains.
Where I live a single family home can cost as much as 500k. It's ridiculous. I mean even a 75k house would be too much for me considering I'm not trying to stay here but I don't understand why it's like half the price of San Diego.
Then again why is San Diego still so much money as well? I thought everyone was trying to leave there because of fires or whatever and now there's a strict lockdown in CA? I doubt anyone is trying to move there as everyone who discovers that I'm trying to live there looks at me like I have two heads.
Once again, lots of people want to live in coastal California, due to the awesome mountain views and the short drive to the beach, and then the awesome daily weather! What nice, decent 3 bedroom house isn't priced at over $1 million there? Would you want to live in a 3 bedroom house for $175,000 in Enid, OK where the landscape is ruler flat with no trees and the weather frequently BAD? HELL, NO!!! I thought so!
I don't doubt there are some likeable people there, as there are just about everywhere.
I know there's a good bit of economic development and affluence there. I just think geographically and climate wise, it's not a place I would pick, but that's just personal preference I suppose. It's not an area I would want to pay a premium to live in without beach access, mountains or some other wowing natural feature, and it feels like it's a long drive to get anywhere that looks much different.
Well, I reckon we would both be surprised that a city having awesome mountain scenery with a short drive to the beach don't rank no. 1 and no. 2 as requirements as to where to live with a surprising large number of people.
The average home price in my area make me queasy. Sure, it's one of the nicer places to live IMO but at this point I'm just looking at places online and asking myself who the hell is buying these houses? The "zestimate" on my house blows my mind because I can 100% tell you my house isn't worth it. There's something really unnatural going on with Bay Area housing prices...
Same here with the sudden surge in price on my houses. I'm totally blown away with them even though Oklahoma is regarded by outsiders as one of the most highly undesirable states you can move to and in a town that isn't growing fast. It's so bad in Oklahoma that Tulsa will pay you $10,000 to move there to be a remote worker for a year. For the higher house prices, it must be locals wanting to own, rather than rent a house. And why not while financial rates are still low?
American middle-class just needs to work a little harder so they win the dozens of bids many of which hedge funds, wealthy elites buying homes as a hard asset and pension funds.
The average home equity gained in cities like San Diego and Denver the last year is about three times what the typical job in those cities pay before tax.
Interesting how there are 2 million more vacant housing units than 2000 but yet there is massive scarcity of homes for sale.
I guess this is what happens when money supply goes from 3.9 trillion to 18.1 trillion in a year and ZIRP policies.
Nothing more than contrived sham to manipulate middle to upper-middle to buy, buy, buy and using the pandemic to do so.
San Diego average home price up 160,000 in a year!
Denver average home price up 154,000 in a year!
Dallas up 28% home price
Galveston, TX up 44% home price
It's unbelievable..... how do people do it, especially in California, but in some of these other places as well?
I've been yelling this on the boards here for 10 years: worst thing you can do is to buy more house than you need. Buy small, invest the difference, retire sooner. It's that simple.
Once again, lots of people want to live in coastal California, due to the awesome mountain views and the short drive to the beach, and then the awesome daily weather! What nice, decent 3 bedroom house isn't priced at over $1 million there? Would you want to live in a 3 bedroom house for $175,000 in Enid, OK where the landscape is ruler flat with no trees and the weather frequently BAD? HELL, NO!!! I thought so!
Darling, doesn't CA have serious smog issues, either from all the traffic or the fires that start to burn up in the north? And of course, all it takes is that one earthquake, or a major riot, or an attack from a foreign power from the Pacific.
Most of that third-party money doing the purchasing you're talking about is private equity cash and hedge funds keeping your pension fund afloat, but do feel free to blame the boogie men from across the border...
Your argument would be less laughable without the easily researched demographic shift in southern california over the last 3 decades. Hispanics became the leading demographic in every so cal county, and california has more illegals than any other state.
Its simple supply and demand and investors wouldnt buy the properties if demand wasnt driving prices consistently. Demand from immigrants, the vast majority illegal, and their high third world birth rates.
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