The Silicon Valley market is on hyper-speed, but you have to wonder if the same trend is happening in slow motion around other tony coastal communities:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
I couldn’t imagine trying to become a home owner in Silicon Valley or many of these other places. Yikes!
Ken the realtor is all for survival of the fittest. Until the day he’s the one on the receiving end. Funny how that can change someone’s tune.
Good grief!
You want a shack, you can pick one up for an easy $408,000.
http://www.nbcbayarea.com/news/local/Wooden-Shack-in-San-Francisco-Sells-For-408000-336400291.html
Please note: The dilapidated shack was built as relief housing in 1906 after a devastating 7.8 earthquake ripped through San Francisco and destroyed more than 80 percent of the city. As such, the fixer-upper is considered a historical property and cannot be torn down or undergo significant changes.
Yep. See Encinitas, where we’ve blown way past peak bubble pricing in almost every neighborhood.
NSDCC houses are now priced on the upper 5% wealth, not local incomes.
Thanks for this post, Jim! My wife and I struggle on a daily basis with the housing prices up here. We’re paying an astronomical rent (and actually getting a really good deal) and can basically never afford to purchase here. So why not move? Because besides the cost of housing, this is a great place to raise our kids. In Cupertino, we are surrounded by high-class families with very well-raised kids. There’s a lot of positive peer pressure on my 10yo son to the point where he cares more about his homework than we do!
So yes, we could leave and buy somewhere cheaper, but it’s the people and overall quality of life that’s keeping us here. We’re just going to rent and hope for a miracle.
Born and raised in San Jose…..moved to SoCal for high school and college but then moved back to the Bay Area for work from 99-04….then said “screw this” and packed up the jalopy and moved back to SoCal.
couldn’t be more happy about leaving. I love going back to SF to visit friends and to enjoy some Giants World Series, but it is just insanity up there.
@kwaping
glad to hear you are doing well.
“So yes, we could leave and buy somewhere cheaper, but it’s the people and overall quality of life that’s keeping us here. We’re just going to rent and hope for a miracle.”
California White and Asian flight is always so upbeat.
None of the violence and cursing like they did back in the deep south. They just… fly away, wish us well, and hope for the best.
Lots of whiney I deserve a house because I’m from here garbage. What was that ladies degree? What about her husband’s degree. Have either of them started a business?
SJ is going through what Vancouver went through several years ago.
I’ve been to almost every state in the union and a large number of countries around the world. There’s all kinds of places you can live that are safe, nice, and with great schools.
“There’s all kinds of places you can live that are safe, nice, and with great schools.”
Funny you should say that. The Brookings Institute made a map of the places left to have a shot at life, if you’re starting from the down-low. The map is about 5 pages down:
http://www.brookings.edu/~/media/events/2015/06/01-raj-chetty-presentation/rajchettyv2.pdf
Conclusion: The American South is where dreams go to die.
What does “chances of reaching the top 5th when starting at the bottom 5th” have to do with housing? (From the brookings institute “study” that was linked)
In the USA, in general schools K-12 are funded by local property taxes. Good school districts that don’t misappropriate tax dollars combined with either higher home prices or higher tax rates will provide they highest benefit level. (Ie best schools)
Sadash Asked:
“What does “chances of reaching the top 5th when starting at the bottom 5th” have to do with housing? (From the brookings institute “study” that was linked)”
Great question! What you quoted has to do with “demographics.” See the “Kwaping” post available in this thread! Note they’re overpaying for their rent, which cuts into whatever savings plan they may have, thereby undermining their ability to overpay for a house in the future, in an area they’d like to live. Folks like “Kwaping,” and there are many of them, pay special attention to “demographics.”
Some may consider them fiscally unwise, but they reason that their children’s futures are what’s most important to them, which includes “top schools,” and “safe neighborhoods.”
If you’re a home buyer, especially with kids, demographics plays a key, if you know what’s good for you. Zillow provides demographic information on every property it posts.
Because demographics matter.
That’s why “Kwaping” hands his financial future over to his landlord, every month. His kids are special, and deserve his sacrifices. Kwaping would love my map, if he were looking for a new place to plop.
Some might query, “what’s wrong with living near a black or hispanic neighborhood?” and the Kwapings might reply, “we voted for Obama!” thereby effectively ending the discussion–at least that’s where I stop talking. Because I’m a nice person. And I’m old, and I don’t care. : )
I’m not exactly sure if daytrip is making me look good or bad, but he does indeed hit the nail on the head. And yes, I did appreciate the map – thanks!