patrick.net

Apple is gonna become a trillion dollar company. Bay area homes will keep on going up, with these trillion dollars!!

Was wondering if anybody had a position on Bernake & co. easing interest rates again in september. Makes buying here in pittsburgh, pa a no brainer. What is it now 2.75-3%? Anyway looks like we chose right and stayed away from California, came close to buying in walnut creek in the early 1990's. I hear it's a ghost town now, the nice mall and surrounding areas doa. Anyone live there now?

But in wealthy areas (most of SF, Palo Alto) there is no housing bottom at all! Renters are still enjoying extreme discounts relative to owning the same thing because buyers are paying so much more than the house is really worth.

You know, just because something remains ridicuously expensive vs renting does not necessarily have to do with whether it has "bottomed" or not. Your buddy "irvine renter" indicates on his blog that some expensive areas have traded above rental parity for over 24 years in a row...

If so, that means that in even in 1996 (in some areas) buying was still more expensive than renting. Yet, by all accounts 1996 was indeed "the bottom", as prices rose thereafter.

Now, if your argument was "it doesnt make sense to buy", that may be true since you could save so much renting vs. buying. Still, that doesnt necessarily have anything to do with whether the bottom was hit or not.

jan says

I hear it's a ghost town now, the nice mall and surrounding areas doa. Anyone live there now?

we don't need amish people in walnut creek.
we are doing so well.

To Jan: You say Walnut Creek is a ghost town? Are you nuts? The place is one of the most desirable and greatest areas to live in aroubd the Bay area! Home prices are up, Schools are great, Malls and Resturants are PACKED and business is booming. Downtown brings in people all over the Bay Area..in fact to many people from outside the area cause problems for the downtown area and local people. IF you had a chance to buy in the early 90's you missed a great opportunity for sure.

I know Pittsburgh and it is a nice town, new baseball stadium and downrown is picking up but Pittsbugh Penn does not hold a candle to Walnut Creek. Cheaper to live in Pitts for sure but you get what you pay for.

dodgerfanjohn says

Hey, your writing skills are terrible. Your ability to construct a reasonable argument is also suspect. Either that or your a troll.

You read my mind 100%.

raindoctor says

Apple is gonna become a trillion dollar company. Bay area homes will keep on going up, with these trillion dollars!!

I would be concerned that you hold your phone too close to your head for prolonged periods.

The market has improved in the past 6 months, but that 's only because 2012 has been called the bounce back year for 4+ years.

What's going to happen at the end of the year when:

1) tax cuts expire
2) federal spending on programs is drastically cut

OR

1) We print up even more monopoly money, our credit rating is downgraded, and the value of the dollar goes to crap