Housing Values May Drop Over 50% In Silicon Valley (San Francisco, Sacramento: leasing, closing)

[phantompilot]

Originally Posted by Hacker1234

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

Nope, that's not what is propping up this market. Foreign investors laundering money in the US, excess profits from unsustainable business and government policies..it isn't just "high income earners". Who do you think is buying all these homes for cash? Its not "high income earners".

[Hacker1234]

Not hard to buy for cash.

[phantompilot]

Originally Posted by Hacker1234

Not hard to buy for cash.

You're right, for most people it is NOT hard...it is IMPOSSIBLE.

[simboticus]

Originally Posted by taimaishu

Funny since the states with the most foreclosures are states with the cheapest real-estate. CA didn't even make top 10. How Amazing is that?

Top 10 States For Foreclosure: July | Bankrate.com

One common factor in these high foreclosure states is the timeline. It can take years to complete a FC in places like NJ, FL, & OH. This provides a big incentive to borrowers, they know they can live there for free for several years before they finally get kicked out. The lawmakers set this up to "protect borrowers", but in the end the unintended consequences just make the situation worse. It stalls revitalization, investors are hesitant to buy up decaying properties that are in the FC process. In fast FC states like TX, investors buy up these homes, fix them up and sell or rent them, improving the neighborhoods.

I know because I am one of these investors. I buy defaulted mortgages in fast FC states. I try to work with the borrowers, modify the loans, forgive past due balances etc. to get the repaying again. If they are unwilling to pay, I'll FC and fix up the house and rent it out, or sell it. We avoid the long FC states because our money it tied up for too long. This policy only delays gentrification, and motives more people to stop paying their mortgages, continuing the cycle.

[joejerryronnie]

Originally Posted by SanJoseMan

Why does everyone always attack Indians in Silicon Valley.

It's residual animosity from the Battle of the Little Bighorn. I still can't believe Custer fell into that trap!

[Dave Coe]

"Several women interviewed for this article said they dreaded the thought of going back to forced unemployment. Some said living on one income in the exorbitantly expensive Bay Area would lead to financial struggles for their families. Before the work authorization, some women had gone back to school, volunteered or raised children, but others said they spent time mourning the life they once had, when they weren’t reliant on their husbands for money."

DHS Prepares Plan to End Work Permits for Foreign H-1B Spouses - Breitbart

[Dave Coe]

Originally Posted by WestCoaster99

Silicon Valley is run to a great extent on cheap imported labor.
It is reported that 74.3% of the techies in Silicon Valley are Asians, primarily Indians. They come here on a visa called H1b, which is indentured slavery, they are paid relatively low salaries and they can't change companies. By some accounts Asians make up about 40% of the population of Silicon Valley.

Trump Is Right: Silicon Valley Is Using H-1B Visas To Pay Low Wages To Immigrants | The Huffington Post

All of that is about to change.
What Trump's latest H-1B move means for workers and business - Mar. 4, 2017

This is just the beginning.

The essence of this post is that I believe the Asians will be gone from Silicon Valley, whether they are deported, go to Canada or leave on their own. Along with them will be gone the landlords who rent them, the grocers who sell them masala, and the Uber drivers who drive them around. It is a given, whether it takes few months or years, but current administration is here for at least four years; plenty of time. It is very clear as can be.

What would that do to SV economy? This post is not about race it is about economy. I for one think that immigration is good for the country, but I am not making the administration's policies. The Indians did a lot of good to US economy in more ways than one. I am sorry to see them gone.

Would the tech giants suddenly become patriotic and start hiring Americans at twice the salaries?
I don't think so, they would leave.

With such an exodus, the housing prices will fall by 50% or more. Most people are mortgaged to the hilt, any fall in prices will put them under water with short sales.

Did we not see this in 2009?
Deja Vu.

Hybrid Remote Work Model Could Mean Worse Bay Area Traffic:

https://www.mercurynews.com/2021/07/...-area-traffic/

[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.

This comment aged well

[ggcd951]

Originally Posted by WestCoaster99

Silicon Valley is run to a great extent on cheap imported labor.
It is reported that 74.3% of the techies in Silicon Valley are Asians, primarily Indians. They come here on a visa called H1b, which is indentured slavery, they are paid relatively low salaries and they can't change companies. By some accounts Asians make up about 40% of the population of Silicon Valley.

Trump Is Right: Silicon Valley Is Using H-1B Visas To Pay Low Wages To Immigrants | The Huffington Post

All of that is about to change.
What Trump's latest H-1B move means for workers and business - Mar. 4, 2017

This is just the beginning.

The essence of this post is that I believe the Asians will be gone from Silicon Valley, whether they are deported, go to Canada or leave on their own. Along with them will be gone the landlords who rent them, the grocers who sell them masala, and the Uber drivers who drive them around. It is a given, whether it takes few months or years, but current administration is here for at least four years; plenty of time. It is very clear as can be.

What would that do to SV economy? This post is not about race it is about economy. I for one think that immigration is good for the country, but I am not making the administration's policies. The Indians did a lot of good to US economy in more ways than one. I am sorry to see them gone.

Would the tech giants suddenly become patriotic and start hiring Americans at twice the salaries?
I don't think so, they would leave.

With such an exodus, the housing prices will fall by 50% or more. Most people are mortgaged to the hilt, any fall in prices will put them under water with short sales.

Did we not see this in 2009?
Deja Vu.

i have been hearing posts like this for 20 years.

[Dave Coe]

https://robertstark.substack.com/p/a...of-july-in-the

"The likelihood of a hybrid remote work model will likely cause more relocations to the suburbs and exurbs rather than out of the region altogether and the Silicon Valley office market appears to be recovering from its coronavirus-linked ailments."