Housing Values May Drop Over 50% In Silicon Valley (Oakland, Santa Clara: first time home buyer, construction)

[Ultrarunner]

Poverty in America is often confuse with luxury in many places in the world... this is not a new phenomenon...

Decades ago the Russians decided to allow the Steinbeck film titled the Grapes of Wrath to be shown in Russia showing how just how bad life is American for the poor and downtrodden...

It did not go according to plan.

See, the poor families escaping the dust bowl were doing so in ramshackle Model T Fords strapped down with all their worldly possessions... the poor in Russia couldn't believe anyone with a car could be poor!

[phantompilot]

Originally Posted by Perma Bear

Howard Jarvis released a cancer that relegated me to poverty and living at home despite having 15% of a million dollars at 25 years old.

Do you actually expect anyone to believe your crap that you are 25 years old, have 150K cash, and still consider yourself poor, and furthermore that you blame it on something that was already old hat before you were even born?

Are you crazy, or just the world's worst troll?

[JohnSoCal]

Originally Posted by phantompilot

Are you crazy, or just the world's worst troll?

Probably both.

[phantompilot]

Originally Posted by Perma Bear

Even I won't vote against prop 13. It'll absolutely murder anyone who inherits if prop 13 is repealed.

Aw, that's so cute. You think you're gonna get to vote on it.

Originally Posted by Perma Bear

But I can't own even a tiny sliver of land. I am the very face of poverty.

You can own a lot more than a sliver. This will likely sell well under the asking, if you were to pay cash. But you could finance it. https://sfbay.craigslist.org/scz/reb...185029884.html

[JohnSoCal]

Originally Posted by phantompilot

Aw, that's so cute. You think you're gonna get to vote on it.



You can own a lot more than a sliver. This will likely sell well under the asking, if you were to pay cash. But you could finance it. https://sfbay.craigslist.org/scz/reb...185029884.html

That is a pretty good price for that much land. Does it have utilities to the property. I have a couple friends that have lived in that area for years.

Getting financing on raw land is not easy. Typically you pay cash for the land and finance the construction of the home.

[Perma Bear]

Originally Posted by phantompilot

Aw, that's so cute. You think you're gonna get to vote on it.



You can own a lot more than a sliver. This will likely sell well under the asking, if you were to pay cash. But you could finance it. https://sfbay.craigslist.org/scz/reb...185029884.html

I don't think you understand how ballot initiatives work. The assembly can't do **** to it. Do you even understand how california government works?

I can also buy an acre of land on the moon, both of these would be equally affordable to build on.

[Perma Bear]

Originally Posted by phantompilot

Do you actually expect anyone to believe your crap that you are 25 years old, have 150K cash, and still consider yourself poor, and furthermore that you blame it on something that was already old hat before you were even born?

Are you crazy, or just the world's worst troll?

Not really old hat, houses in the Bay Area were 10k or less in the late 50s and 30 by the late 60s-early 70s. Believe it or not but people could actually buy houses here. I'd argue I'm poorer than a 1 income janitor family in the 50s because the 1 income janitor family could buy a modest ranch house and I can't.

I'm the face of poverty. It might as well be Monopoly money if you can't buy anything.

[silverkris]

Originally Posted by Perma Bear

I'm the face of poverty. It might as well be Monopoly money if you can't buy anything.

Just stop it already.

You're healthy, you have a job, you have savings in the bank and no debt.

You don't know real poverty. Instead of feeling sorry for yourself, why don't you volunteer your energy to help those who REALLY have economic issues or social/emotional problems - such as folks who don't know where their next meal is coming from? People with disabilities. People who suffer from domestic violence and abuse. Those actions will take your energy and emphasis away from feeling morose about yourself.

This is really getting tiresome.

[Perma Bear]

Originally Posted by silverkris

Just stop it already.

You're healthy, you have a job, you have savings in the bank and no debt.

You don't know real poverty. Instead of feeling sorry for yourself, why don't you volunteer your energy to help those who REALLY have economic issues or social/emotional problems - such as folks who don't know where their next meal is coming from? People with disabilities. People who suffer from domestic violence and abuse. Those actions will take your energy and emphasis away from feeling morose about yourself.

This is really getting tiresome.

Under your logic their best option is to save for a greyhound ticket and move somewhere cheaper.

[silverkris]

Originally Posted by Perma Bear

Under your logic their best option is to save for a greyhound ticket and move somewhere cheaper.

Nope my logic is "Do something".

You unhappy about high housing prices here in the Bay Area? Well go do something about it instead of moaning and groaning about it. That won't change anything. You can choose to improve your own situation (career, etc.), you can help others and organize for example. Or you can choose to sit on your backside, complain loudly, but not do anything (which seems to be your current plan). As I've said, your plan seems to be to wait for Mom and Dad to die and pass the property to you.

Join an affordable housing advocacy group and get energized. Get involved in activism. If let's say there's a mobile home park that is getting sold off and they're going to throw out the residents there, organize and protest. Heck, there was a MHP in Palo Alto (yes - the Buena Vista) that was going to be sold off and redeveloped, but a lot of community people organized and fought that over several years and saved it. I think there may be a similar development around a MHP near the Winchester Mystery House. Now that might not directly benefit you economically but it can energize you and give you a new perspective and energy in your life.

Or maybe you can hook up with some other folks in your similar situation, pool your funds together, and form a housing coop or something like that. Use your imagination. Isn't this Silicon Valley, the home of innovation?

Want to stay in the Bay Area? You're going to have to up your game from an income standpoint and make some hard choices. Maybe it's a career move. A whole lot of posters have given you very constructive suggestions and it seems you've rejected all of them.

Or maybe you're going to have to face reality and opt for relocation if that's the best calculation for you. It's a trade off that only you can decide upon. And frankly, if you have that much money in the bank, you don't need to save for a bus ticket. C'mon now.