Median price of Bay Area home up more than 15% from a year ago
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- čas přidán 28. 04. 2024
- New data shows the median price of a home in the Bay Area is up significantly from a year ago. Bob Redell reports.
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How are people buying these expensive houses if they can't get homeowners' insurance on them in this state? Are they paying cash?
you still can
Don’t believe everything you see in the media. You can still get insurance and economy is doing well.
Great question though - the volatile insurance makes losses very scary
Lots of buyers are using cash, they have generational money , cash out stock from work, have two income household like mine, etc.
@@Thomas-fy9ycyes they are paying cash. Fat bank accounts from other countries. India, China to name some...
All this while car break ins, retail theft, violent crimes and homelessness is at an all time high in the Bay Area. lol
But hey it's sunny more days than it isn't so... yeah lol
@@TooLiveChris ya the weather is beautiful you got that right.
@@barano9729 that’s the only viable excuse they have and even then it’s never summer, it’s never over 70. You have to wear a sweater in July the same as November.
Wonderful combination high interest rate plus high home prices.
Wages on average went up. Minimum wage definitely went up.
Inflating the home prices more
good time to SELL , and get the F-out
I know many people that said the same thing in the 70's, 80's, 90's, 2000's, 2010's, and now. My experience during my 65+ years in the bay area is, you bet against the bay area, you will lose. I'm a multi millionaire many times over and all I did was buy one house in the 80's, rented it out and bought another one in the 90's. I'm not smart. But one thing I did was not listen to people like you to sell and get out. If I did that 5, 10, 15, or 20 years ago, instead of being worth $6 million, I'd be worth about $1 million. I don't know why people like you say the same thing over and over for decades and decades. You never get it right.
Don’t be too confident as well that you are right for a long time. A magnitude 8.0 earthquake that could happen anytime could wreak havoc to the area and it will evaporate all those equities.
@@ronaldsunga2759teardowns in the peninsula sell for about $2mill now. Equity here can be up to 75% land, the inverse of elsewhere in America. The location, lack of land and extreme concentration of high income jobs is rather unique here.
@@ronaldsunga2759 8.0 doesn't scare us. Even if the whole state is wiped out, we have proven over and over that the will of the people, creativity, ingenuity ... that exists in Silicon Valley can overcome anything. We only become stronger and better. 1906, Loma Prieta, and countless other disasters mean nothing to us. We laugh at the danger. As a result, most of us are filthy rich and live by the ocean in near perfect weather every day of the week. In the meantime, you guys are in below freezing weather praying for the downfall of California out of sheer jealousy - not a great way to live your short 80 years on this planet. You only have 80 to 110 years on this planet. Don't waste it worrying about disaster. That's what makes us different. We live for today.
SMH
I understand why rich people are here. They have the good jobs or already own. What I don't understand is why poor people keep sticking around in these conditions. They can have a better quality of life elsewhere, where the salary makes more sense vs the rent or home prices, but they don't go.
Ask people the same question in Manhattan or Queens lol .... Except the weather SUCKS in New York and it is INSANELY over-crowded, but PEOPLE DONT LEAVE haha. I guess humans don't like change.
It's hard when you're from here and everyone/everything you know is here but whatever
If all the non-engineers people give up life here, who is going to cook for you? Watch for you when you are sick? Educate your kids?
This is a problem of city management as well. Management is behind the race in between economy growth and space management.
Crazy. A recession will change Bay area employment too. Bay area isn't immune from recession
thank u Gavin
Republicans have no answers either.
Yeah, and it's the demons on the left who have been in control in loony California and look at what it has got you. That's why I got the hell out of there before everything went downhill. And it's only going to continue to worsen under the loony left.
Why? It's all oakland.
Heck yeah, called it last year. Ever higher, especially with lower rates coming towards the start of next year.
Good luck future kids
It fell for more than 30% last year so it is still around 15% low
Depends where… In San Francisco, nothing really fell. It just stayed the same or came down like 2%. 900 sqrft starter homes are now 1.2 mil in the worst of neighborhoods. The cheapest home in the sunset now is over 2 mil. My last landlord bought her house for $376,000 in 2006, and now it’s worth 2.3 mil. It’s unreal how expensive houses have become.
I hope the reporter can find his lost AirPod
Tech people are using their stock options to buy homes now. That is one reason why the prices are going up.
Young people; don't buy in CA ! Get out of CA. Other parts of the US are much better !
It's not accurate to compare renting vs owning, both at present value. Renting is typically cheaper than owning on the short term, but over time housing prices rise and the rents rise with them.
Someone renting 10 years ago would be paying less than most home mortgages at that time, but if they bought a home them, their mortgage would likely be far less than the rents being charged now.
Owning a house has a rise that values will drop, but renting has a risk that rents will rise. If you plan to be in an area for at least 5 years or more, it makes sense to look at buying a home rather than rent if you can comfortable afford it.
I got my private inner inside leaked just saying I don’t know how to stop that.
I keep telling everyone, they dont wanna listen , im telling you the bay area got $$$ . The people that are here or came here got that generational $$$ , from every creed of nationality you can imagine. Now if things start falling off in California, especially the bay area , then that means get your $$ out the bamk .
Renting is cheaper than buying?? I'll believe that when I see it!!! 🤪🤪🤪🤪🤪🤪
The market has escaped the orbit and gravitational pull of people in the service industry and other lower-wage earners. Investors, domestic and foreign, have more than filled the vacuum. Consumption of tech will continue to provide high-wage buyers, providing stability to the market.
BS. 💩💩💩
best thing who owns some home and struuggle with paying tax property (those in retirements)is to sell it and buying in Spain Villa with pool near mediteranian sea for 200000-300000€ and renting &live well