Yep, just keep waiting and renting. We need to keep our rentals filled. When more housing inventory comes on, it’ll also pair with even higher prices from lower interest rates. Looking forward to it.
I live in North San Jose/Berryessa. My neighbor listed her house for $1.5 million last month and got $2.1 million for a 1577 sf, 3 bedroom 2 bath house. She said she received twenty offers and three with escalation clauses. I’ve lived in San Jose most of my life and still find this shocking! 🤯
My guess is nvidia boom. Berryessa is like a 25-30 minute drive away from nvidia headquarters in really bad traffic. It’s like a 10-15min drive with no traffic.
@MichaelChengSanJose…I’m only two houses down from hers and mine is a 4 bedroom 2 1/2 bath. I’m at retirement age and what these houses are selling for makes it VERY tempting to sell.
This is Santa Clara where the price of a house when semi conductor was invested used to be $30K. Check the graph of the price every decade, it will always go up even with few price corrections. The only way for the price to go down is a major earthquake or a nuclear bomb. Other than that it will not go back to 1 million.
I think these people live in a bubble. There are plenty of homes in other states with the same price. I follow Zillow in Sunnyvale and there is more inventory than ever.
The problem is that this bubble was not created by any risky investment practice. It is created by the pure demand and the average local earnings working at places like Google, apple, etc. Unless these companies go bankrupt, this bubble is here to stay. My hope is that some idiot would invent another risky mortgage to crash the housing market AGAIN. People's greed is utterly incomprehensible, so it can happen.
No it's because people won't pass zoning changes and the presence of SJC prevents Santa Clara County from being able to build dense and tall housing (e.g. along the VTA / Caltrain lines) because people who own property there don't want to see their investments dip. Land is zero-sum whereas wealth and inflation isn't so property values just go up with the growth of populations and over-leveraged people. Tangibly it's demand, but that's just a symptom
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 no thanks! this is why I moved to Texas, especially the Houston suburbs! Got a 3600 sqft on a 9000sqft lot for $350k in 2019 with no state income tax and low car registration fees + cheaper gas price + cheaper grocery prices and plenty of tech, oil and med jobs with wfh or 4 days work week twice a month.
![Where to live in the SF Bay Area? [TIPS FROM A BAY AREA NATIVE]](http://i.ytimg.com/vi/RkXHcXWZ3R0/mqdefault.jpg)
For a regular one story house. Anywhere else in the country that can buy you a mansion. Insane! Inventory is just an excuse for the price
The safest neighborhood in the bay..everyone has a job, a family and a education. Keeps the undesirable people out. What's wrong with that!
Bet every house there has lots of food in their cabinets.
@@baalzebub5000 state of the art facilities
The" undesirables"that make under $150,000.00 you mean ?!
Yep, just keep waiting and renting. We need to keep our rentals filled.
When more housing inventory comes on, it’ll also pair with even higher prices from lower interest rates. Looking forward to it.
Who can afford this stuff?! It's crazy how these houses still sell.
Just cuz you’re broke, doesn’t mean everyone else is 😂
I live in North San Jose/Berryessa. My neighbor listed her house for $1.5 million last month and got $2.1 million for a 1577 sf, 3 bedroom 2 bath house. She said she received twenty offers and three with escalation clauses. I’ve lived in San Jose most of my life and still find this shocking! 🤯
My guess is nvidia boom. Berryessa is like a 25-30 minute drive away from nvidia headquarters in really bad traffic. It’s like a 10-15min drive with no traffic.
Yeah, I saw that listing as I live close by. With the AI/NVIDIA boom, there’s more upside to come.
@MichaelChengSanJose…I’m only two houses down from hers and mine is a 4 bedroom 2 1/2 bath. I’m at retirement age and what these houses are selling for makes it VERY tempting to sell.
HOW CAN I BUY A HOUSE IN SANTA CLARA WHILE CROOKED FBI AGENTS TOOK ALL MY MONEY 😞😞😞🇺🇸🇺🇸🇺🇸🗽
This is Santa Clara where the price of a house when semi conductor was invested used to be $30K. Check the graph of the price every decade, it will always go up even with few price corrections. The only way for the price to go down is a major earthquake or a nuclear bomb. Other than that it will not go back to 1 million.
😂😂😂
How many buyers can pay $2M cash, not many!
CEO and Pro Athletes
Chinese corrupt government officials buy houses cash here
Lots of people lol of 10 billion in the world 😋
Stock options
VIP, wealthy, professionals, talented people
1 gajillion billion million
Why are they tryna make it so hard for us to survive
With these valuations, how much do they collect in property taxes?
At least $22K per year
I would guess at least $40k/per year
2 million is ridiculous, but good luck. I'm so glad I left Santa Clara County
I think these people live in a bubble. There are plenty of homes in other states with the same price. I follow Zillow in Sunnyvale and there is more inventory than ever.
The problem is that this bubble was not created by any risky investment practice. It is created by the pure demand and the average local earnings working at places like Google, apple, etc. Unless these companies go bankrupt, this bubble is here to stay. My hope is that some idiot would invent another risky mortgage to crash the housing market AGAIN. People's greed is utterly incomprehensible, so it can happen.
No it's because people won't pass zoning changes and the presence of SJC prevents Santa Clara County from being able to build dense and tall housing (e.g. along the VTA / Caltrain lines) because people who own property there don't want to see their investments dip.
Land is zero-sum whereas wealth and inflation isn't so property values just go up with the growth of populations and over-leveraged people.
Tangibly it's demand, but that's just a symptom
It is going to happen. The tech industry is just a bubble. Same with housing
Tech is just a bubble. Same with this insane housing
Foreign Investment Bubble?
@@RandomRabbit007 Exactly
mostly due to low inventory, no one wants to let go of their property
They’ll start to when the price is right lol lots of things happening around here at this time golden era
I’m not selling anytime soon, locked into 2.75% interest rate 🎉 😂
If you're not in tech making 150- 200k / year then time to gtfo out of CA!
people with a JOB and willing to paid 2 million for a property. that's Crazy!!!!!
only the real estate agents are happy
How
Never going down ever. Like gold. It’s land …. Lol
$2m is cheap..people in tech make aorund $800k per couple. This is easily affordable for them.
Lucky
Keep calling for more taxes and regulations
Gold rush
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 no thanks! this is why I moved to Texas, especially the Houston suburbs! Got a 3600 sqft on a 9000sqft lot for $350k in 2019 with no state income tax and low car registration fees + cheaper gas price + cheaper grocery prices and plenty of tech, oil and med jobs with wfh or 4 days work week twice a month.
@@ankurabichandani9673 right at the front line lol
Tornados, hurricanes, floods, hail storms and humidity, let’s start there 😂😂
@@sfrealestatedealmaker6001
@@ankurabichandani9673 ain’t coming back to Cali for sure, but please just don’t follow us to Texas lol
lol, have fun paying those taxes and see if you can get insurance to cover those over price homes that aren't worth more than a home depot storage.
Sell
Ahaha