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Housing Bubble Trouble in Silicon Valley & San Francisco

By Patrick follow Patrick   2019 Jan 9, 8:06am 620 views   2 comments   watch   nsfw   quote   share

With inventories for sale rising, as sales are slowing, a whiff of competition is settling in among sellers, who have to determine where the market is today, not where it was last year, and if they want to sell their property, they have to price it where the buyers are. But buyers aren’t where they were a year ago, and the bidding wars have receded into history, and mortgage rates have jumped from a year ago. The right property, priced right will sell. But if it’s priced off the market, it will likely sit. This is starting to sink in. And sellers are cutting their asking prices.

1   covid_shmovid   ignore (5)   2019 Jan 9, 11:58am     ↓ dislike (0)   quote   flag      

Fuck. There goes my $3M.
2   SunnyvaleCA   ignore (1)   2019 Jan 9, 1:48pm     ↓ dislike (0)   quote   flag      

So, in summary.... no longer a feeding frenzy. Realtors™ will finally have to do some work to sell a house. Prices might actually be established by market conditions instead of feeding frenzy manipulation. Get back to me when all legitimate offers are disclosed to the public! (I can wish, right?)

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