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Is Bay Area housing crash over?


               
2012 Feb 27, 1:41am   104,569 views  406 comments

by fewy   follow (0)  

Like many of you here I have been waiting for the prices in the bay area to come falling back to earth. Over the past year, the things that I'm seeing make me believe that a huge correction will no longer happen and the prices in most area's have already corrected themselves.

The main reason why the Bay Area was spared from the large housing crash seems to come from the fact that the great recession didn't hit us as hard as other places. This let people keep their jobs and save money. Now as the U.S. is coming out of this recession, the stock market is rising, and people in the Bay Area didn't get scared of investing in housing because there was no major housing crash. We might get a good rise in housing prices. The last example that turned my opinion around is the amount of homes for sale in santa clara county. The inventory is half of what it used to be last year and it seems like the inventory that comes onto the market is quickly bought up. What do you guys think?

#housing

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404   1sfrenter   @   2012 Mar 7, 2:50pm  

Buster says

I really don't see where epitaphs that he uses such as 'faggot' or 'subhuman' is contributing anything constructive to a thread supposedly about real estate.

+1

405   1sfrenter   @   2012 Mar 7, 3:13pm  

I got disgusted and stopped watching this thread although it was my original post that got the homophobia thing going.

Here is the real estate context: many many people choose to buy or rent in a certain area because of demographics.

I would never live in a place like Danville or Livermore because those places have too many people who live there so they can be away from all the gays in the city. (I'm sure there are plenty of really nice, tolerant people there, too, but the bigots ruin it for everyone)

I choose to live in such an expensive place (SF) when there are many other cheaper places to live because I do not want to live in a neighborhood where I have to deal with neighbors who hate the fact that a family with gay parents has moved in. I would no more put my kids through that than I would choose to live in a neighborhood where there is gang violence and bullets flying.

Gay people get harassed, discriminated against, shunned, and physically assaulted. Go search for some statistics about hate crimes - they occur everywhere - but life is worse for gay people outside of big, liberal cities. I'm not playing victim here, just saying that I would like to raise my kids in a place where we are accepted.

Most of us will go out of our way not to move to a place where we will be a minority. For some, this is simply about comfort, but in other cases it can truly be a safety issue.

So yes, I'll pay top dollar to live here in my city by the Bay. Where we ultimately decide to live, whether we rent or buy, is never only a financial decision, there will always be issues of race, class, education level, politics, etc. that make some places more desirable than others for each of us.

406   Patrick   @   2012 Mar 8, 1:07am  

B.A.C.A.H. says

Looks like he deleted the original

I don't think so.

OK, I deleted it.

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