Any chance real estate market will crash? (San Fernando: living, race)

[NickB1967]

Originally Posted by LexusNexus

The market will crash if we get a Republican president in 2016. It might take about a year for the stench to negatively impact the country, and our nation begins to again bleed to death under a Republican administration. Until then, I predict continued upswings in the real estate market and high tech optimism and innovation to continue to flourish.

Because business bashing by you Demunists works so well. Keep whistling past the national graveyard.....

Although one can make the argument that Obamunist Oh-flation will keep the real estate market going up and up, as it is a hard asset inflation hedge again as it was in the 1970's. Whether your paper assets do as well, of course, is another matter.

[BayAreaHillbilly]

Originally Posted by phoenix_new

I was looking at some houses online, and there are some houses which were sold in 2011 for $350k and now they are listed at $700k... is this sustainable? or is this the peak? or this is a bubble?

I know no one can predict this, but I am just asking for your opinion?

There is currently a lot of froth driven by all cash deals and by other types of buyers who will do anything to compete with the all cash buyers. Obviously, that sort of dynamic could burn out very quickly and dramatically.

[hanera]

Originally Posted by nagleepark

You know what's really interesting?

The screwup from my high school got kicked out multiple times and is now a famous actor (but still kind of screwup). Every single person on this board has probably seen at least of one of his movies and he's in several blockbusters. He's a great actor, in my opinion, so I don't begrudge him and hope that he overcomes his problems.

One of the 4.0 GPA students from my high school got a PhD from MIT, achieved minor fame for an open source project and now works as an anonymous grunt at Google. I'm sure that he does OK but, in almost any category, the actor has got him beat.

Including number of divorces and indecent behaviors.

[checkup]

to answer the op, no; even if the local tech economy cools off, there is such an undersupply of housing that prices won't crash; it will at most stagnate for a few years before tech starts booming again in the next cycle

[HelenChong]

My advice is to hang on for some more time. The market has not recovered completely from recent recession. The cost of renting a home was slashed by recession. However, it’s true that when it’s about buying, the prices were unbelievably high, and the trend still continues. I won’t suggest handing on too long as the rates will not get back to normal line very soon. It’s a gradual process. Moreover, the demand for properties will never go down, but rise in future. Presently, it sounds like a bubble, and you will have to wait until it pops.

[sonarrat]

Originally Posted by checkup

to answer the op, no; even if the local tech economy cools off, there is such an undersupply of housing that prices won't crash; it will at most stagnate for a few years before tech starts booming again in the next cycle

If the last bust is anything to go by, it will be an amazing time to buy housing in outlying areas like Brentwood, Tracy, and Hercules and in marginal, high-crime areas with poor school systems and other services. If you're looking to buy in a place that is highly desirable anyway, then when the housing market cools off at least you'll only have 2 all-cash overbids to compete with instead of 25.

[opossum1]

Ah, the pleasures of living on superfund site or next to the freeway or airforce base...breathing-in the stench of Silicone Valley polluted air...Friday traffic jam starting at 2pm, so that no one can get out to the mountains to... traffic and crowds any day, nothing can quite compare, no wonder it's all so expensive! That's what I call hitting a jackpot. I don't believe in real estate crash, even if the stocks crash in 2016...not until the Quake....rat race must go on.

[phantompilot]

Originally Posted by LexusNexus

The market will crash if we get a Republican president in 2016. It might take about a year for the stench to negatively impact the country, and our nation begins to again bleed to death under a Republican administration. Until then, I predict continued upswings in the real estate market and high tech optimism and innovation to continue to flourish.

Uh, sure...because the Democrat only added 9 TRILLION dollars in debt while he was in. We definitely can't afford any more lefties.

[rv2811]

As a home owner I hope the market is not going to crash lol. This time around people have much more skin in the game and trying to get a home loan is was extremely difficult. It may go flat at certain point I feel the market will continue to be up yoy for many years. In my area homes are 55% and up since 09 And still climbing monthly and if listed for sale pending within 7- 14 days. Even on the 1.1-1.5 million dollars homes.

[mysticaltyger]

Originally Posted by hanera

Including number of divorces and indecent behaviors.

Yeah, I'll take anonymous grunt from google over the actor with a screwed up personal life any day.