lightweight champion
Banned
- 13,481
- 5,271
- Joined
- Jun 23, 2007
KTVU did a report on Solano County as a hotbed for real estate purchase a couple of weeks ago. They’re selling point was for $700k and less you can get a huge home and still only be 40 minutes away from the city. Anyone who believes it’s only a 40 minute commute every morning...well I’ve got an ocean front property in Oklahoma I’d like to sell them.We’re seeing a slow crash even as real estate continues to climb and stocks climb and assets climb across the board. The beginning of the top end/ peak of the real estate and rental market was two years ago here in the Bay Area and all the smart money got out-is getting out-is leaving because the state and cities have become almost inhabitable and difficult to manage financially and politically. We’re in an everything bubble right now. The QE unwind continues, multiple rate hikes are on the way, and people will continue to pay exorbent amounts of cash just to be here because everything is here. And that’s the key word “here”. The difference here is the amount of debt being held by consumers on just about everything
This feels like the run up in many ways to the 29 crash or Japan in the 90’s but we don’t know what’s going to change or reverse in the next five years.
The local and state governments are trying to change zoning laws around large public and state transportation systems to allow for developer solutions in residential areas which is going to really impact communities as a whole. Saw Ed Lee at Structure SF in a room full of developers last year at the Fairmont before he died and it was crazy to see the San Francisco pipeline for the next twenty years. Vallejo was being primed as the next up and coming city as was Richmond which both cities are being heavily invested into. See what happens in West Oakland over the next decade and East Oakland is already preparing for it now.