Palo Alto, CA
Followed by 0
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In United States
Registered Dec 15, 2011
LongTermRenter's most recent comments:
- On 16 Apr 2012
What to do?,
It's hard to stay the course renting in this environment. I saw a lot of friends who had their first kids in 2006 and 2007 and they locked themselves into really expensive Bay Area homes and now a lot of them are underwater (maybe just slightly). We've been happy raising our kids in a rented townhouse about about $2k/month. It's not just the difference of rent vs. mortgage, but the losing prospect of future house price decreases, especially with a second wave of foreclosures coming.
You have three or four more years before you have to start thinking kindergartens and such, and that's enough time to survey the housing trend.
- On 15 Dec 2011
San Francisco median sales price 1993-2011,
It's a good graph. Does anyone have a logical explanation for why the Bay Area is stubbornly high? Specifically the Peninsula and South Bay area adjacent to Peninsula. Is it really the banks holding onto the shadow inventory? People not willing to walk away despite being 30% underwater and still hopeful? The sentiment that housing is a decent investment still persists? Gravity must prevail, but when?
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