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Here's Where Californians Are Moving To Escape Skyrocketing Prices

By mell following x   2018 Jun 2, 6:10pm 951 views   1 comments   watch   nsfw   quote     share    


https://www.zerohedge.com/news/2018-06-02/heres-where-californians-are-moving-escape-skyrocketing-prices

Best bit from this article:

"
Take, for example, this 848 square foot home on Plymouth Drive in Sunnyvale, CA (which in the 90's was the "poor" part of town vs. nearby Mountain View and Los Altos).
After being listed in March for $1.45 million, it sold within 48 hours for $2 million, or $2,358 per square foot. With Sunnyvale's 1.25% property tax, the new owners are paying $2,083 per month, or $250,000 every 10 years.
"

That is absolutely nuts. This is max. a 2 bedroom far away from the ocean in a shitty part of Sunnyvale and the property tax is $2100/mo. when you can rent a 25% larger 2 bedroom by ocean beach in SF for under $3000/mo. and pay no water/trash utilities, never pay for any repairs. Plus if you prepay for a year you can usually take another 10% off easily. SF bay area - even with its high rents - is clearly one of the worst places to buy vs rent in the US.
1   Strategist   ignore (2)   2018 Jun 2, 7:02pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

mell says
Take, for example, this 848 square foot home on Plymouth Drive in Sunnyvale, CA (which in the 90's was the "poor" part of town vs. nearby Mountain View and Los Altos).
After being listed in March for $1.45 million, it sold within 48 hours for $2 million, or $2,358 per square foot. With Sunnyvale's 1.25% property tax, the new owners are paying $2,083 per month, or $250,000 every 10 years.


It's probably still a poor part of town. Hate to know what the richer part of town fetches for a 4 bedroom.
Make sure Hassan_Rouhani does not see this. He will raise his price from $4 million to $5 million.

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