Bay Area

[mediaguru]

I'm not the only one saying it:

http://www.movoto.com/blog/market-trends/our-take-on-the-san-francisco-housing-market-wait-for-the-b...

[sfsfr]

I totally agree that the "they aren't making any more land" and "the Bay Area is different" argument are bogus. However there is one critical difference between 2006 and today, and that is that rents have skyrocketed. In 2006, the cost of buying was over 2x more expensive than the cost of renting an equivalent place. That is no longer the case.

[SamShuehRealtor]

That would be true if there was a massive layoff from financial industry, high tech(Google and many startups), social media combined. Keep in mind SF still has the tourism attraction from everywhere. The Great Recession kept folks stay close to their home. Not now. SFO is busy as ever.

It would also be true if mortgage interest rates shot through the roof.

[buyinghouse]

  Well, most everybody is feeling the pinch on their paychecks due to higher taxes. Apple losing value, people losing confidence in the economy as to keep buying, a thing here and there and who knows we will have a catastrophe.  I just hate to say it, but we shouldn't be so confident. The ant can tells us more about that.

[Marcus76]

I don't think people realize 2008-2009 was the anomally.  That was the crash.  People that thought homes were too expensive then are just screwed now.

[Jil]

Since because he could not afford to buy one, he is choosing only negative posters elsewhere in the internet and publishing it. All he can do is just reproduce junky funny statistics or references and make it a post for his self satisfaction. 

Today, My friend's fourth offer is also declined for a home listed at 619k. It received 16 offers and the highest went beyond 675k. He does not even understand how the 2013 market runs.

Today, I lost one SS deal, as you all know. I was telling this to my another friend very sadly and he took the opportunity to accept 45k over the appraisal value and the deal is set! Hence, I removed the pictures of the home I published..This friend is wealthy and he is happily agreed as he does not need second opinion about this home...

Unless FED pulls of QE3 or Interest rate is hiked, economy will not fall. This is the crappiest post ever Mediaguru makes to this forum viewer.

What mediaguru produced here is Sep 6, 2012 blog posting which is very much irrelevant today. 

[MyCousinVinny]

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mediaguru wrote:

I'm not the only one saying it:

http://www.movoto.com/blog/market-trends/our-take-on-the-san-francisco-housing-market-wait-for-the-b...

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Do you want to buy again?

[mediaguru]

Nope.  But the lines people are spewing on here sure sound very similar to when people try to "pump and dump" stocks (ie. hype it irrationally to get greater fools to buy it, when really its a SELL scenario, you fool people into believing it is a BUY market.)

I do have to LOL at someone saying that a post made about 3 months ago is now "completely irrelevant"

Yes. It's ancient history.  Explain to me: what groundbreaking development has occurred in San Jose (or anywhere in the Bay Area for that matter) since September.  I don't recall any groundbreaking news coming out.  Did somebody just cure cancer?  Why didn't I hear about this??

I guess it also explains why the same people who are hyping San Jose / Santa Clara as being #1 on the economic strength/growth list also fail to recognize that it was ranked 51 the year before.

Again: what changed between 2011 and 2012?  Almost nothing.  Some new startups started up?  Sure.  That's been going on for several years now. As has the mobile and tablet markets.  

I don't recall any groundbreaking thing that occurred between 2011 and 2012.  To my knowledge, no new type of widespread consumer device (such as iPhone or iPad) was unveiled.

But apparently we are supposed to believe that, after being 51 on the list, #1 is the "new norm" -- with zero fundamentals or reasoning behind it.

Riiiiiight.

Hilarious.

Carry on, sheep to the slaughter.

[New2BA]

Hmm, what are the motivations of Movato, as a RE site, while noting that inventory is pretty much at an all-time low and the main reason for price increases?  "Your best bet is to hunker down and wait for the imminent burst, unless you’re looking to sell. In that case we’d advise you to take advantage of the bubble."

[sheriff]

The writer went to the "Three Stooges" school of business where you are taught the low supply/high demand = low prices, and high supply/low demand = high prices.  You are right.  The piece was written to get people to put their house up for sale.  It does even make any common sense.