patrick.net

If you are thinking of buying a house in the "fortress" of Silicon Valley, try to hold fast, because I have an anecdotal story for you.

Wifey and I went to an "open house". I say it in quotes, cause the house wasn't for sale, it was for rent.

Two hours, near Los Palmos park in Sunnyvale. House was great, clean, nice street, lots of kids, walking distance to park. Just what a young family wants.

Literally, dozens of families came to see the house.

When I met the owner, who was crowded by prospective tenants, I told him "Hey, you've got a good problem, so many applicants. With such a demand for renters, it doesn't seem like there are any real estate problems."

He said: "Oh, well that's because everyone is kicking out their tenants."

I said: "What? Why would owners kick out their tenants."

He said: "Because everyone wants to sell now."

I said: "Everyone? What do you mean."

He said: "Everyone I know, has properties, and they've gotta sell."

I said: "Oh, OK, well thanks. No need for me to rent a new place, I'll just wait to the market is flooded."

So, this is a compilation fo data, it's just one story, but I think it's relevant.

#housing