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Redfin Investor Purchases by zip code:
https://www.redfin.com/news/data-center/new-construction/
Redfin Investor Purchases by zip code:
https://www.redfin.com/news/data-center/new-construction/
zzyzzx says
In the same area: https://www.zillow.com/homedetails/6803-E-Main-St-UNIT-3317-Scottsdale-AZ-85251/82387358_zpid/ - 2.4M for 1,497sq.f condo with >1K HOA
And there I was, thinking that Bay Area is expensive.
The Bay Area is becoming cheap...?
Interesting investors didn’t slow down in buying properties through the housing bust, and they bought more through the 2010’s.
Take this place in pseudo-fortress 95138 in San Jose asking 1.7mil...
Looks like a nice place, but super tiny lot
zzyzzx ,
I copied and pasted below the Zillow link for the above home. They must be in a rush to get out of their cash investment before they lose at least 10% of their equity.
The same home sold for $432,000 in 2013, and for $288,000 in 2001. It should be about $800,000 based on a 5% annual price appreciation since 2001.
https://www.zillow.com/homedetails/1598-Bluebell-Dr-Livermore-CA-94551/24940718_zpid/
AD
I use this frequently, when pointing out a bullshit excuse - "Too many notes."
This is a great line from the movie "Amadeus" where the establishment musicians were trying to shut WAM down. The consensus was "too many notes" in his music, and when he asked which ones should be cut, they simply reiterated their criticism.
So now, "too many houses."
Why do they even trot out these laughable pieces of bullshit? They're daring us to call them out because they think we're utter stupid simps.
https://patrick.net/post/1346441/2022-07-01-first-guaranty-mortgage-files-for#last
ad says
Booger, so given demographics, etc, there will be a glut or oversupply of homes ? What housing markets does this apply to ? I would expect California as one example of this as its population only grew no more than 5% in 2010 to 2020.
Ppl are fixated on how not enough homes have been built...but these past 16 month or so about 2 million have been in various stages of construction.
Again, the effects will apply per local housing market.
Boise is a damn fine example right now.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.