Is real estate in a bubble?
Is real estate in a bubble?
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Technically yes but we can keep the party going for a few years with current regulations
Why dont the owners knock these down and bud bigger houses if the real estate is so valuable?
You are like a little baby...watch this
Because tradesmen charge like $10k/hr to do anything and the government bans you from DIY.
11k per month mortgage. Holy fuck
no, you literally just picked one of the most expensive areas in the US to live
Is that the house from up?
actually looks like a good house, good lawn to house ratio and looks well managed so you wont need any renovations
>2.8m for nice ratio
zoning usually, lot size minimums or another quirk such as lack of frontage, lot width, or whatever other rules are needed to build
this home would cost around $125-$160k in my area
nooo... in 95% of the areas in the US homeowners can do whatever they want to their homes. Its the land and the demand that drives the price of property up... not the poor working slob.. trust me.. Im a poor working slob.
A piece of land located in a zone surrounded by multibillion companies will always be worth a lot of money as long as they remain there.
So people pay 3 mill for a commieblock?
Why didn't you buy up Detroit with your crypto riches, Veeky Forums
Because nobody is rich on Veeky Forums, everyone is just a larping neet faggot.
POST BETTER DEALS
Yeah same. As an ausfag i can get a 4 bedroom rental property for aud 180k
And rent it out for more than the loan repayments kekekek
Yeah, but 7 million maple leaves is like lunch in Chadmerican money.
damn dood moving to Vermont
Damn that is absurd
That house looks like ass, christ. Its like a giant garage.
Good house? Damn Burgers
This fucking thing is a better garden shed at best.
Jesus fuck I need to get out of California...
I got my 4 bed for 235k last year, this year its worth about 265.. I really want to rent out 1 or 2 of the bedrooms for like 5-600 a month and since my mortgage is only 1200/mo I could keep working fulltime and pay off the loan really fast.
Why move to Palmdale. 40 mins from La and new (06-08) 4br houses for 320k. People give it shit but its comfy .
Literally anywhere that isnt a state capital.
They do, but it's the lot that's expensive. This shitty 180 sqft shack in Palo Alto sold for $2M because the buyer wanted to do what you mentioned.
you have to hire actual housekeepers for a place like that as in not your Mexican neighbor paid in cash you probably have to w2 them. Fuck that
Why don't you have 9000 of them
It's unbalanced because of illegal immigrants flocking to most major coastal cities making the price of housing and living in general explode due to over population. That's why housing in Vermont and other inner states is still at more realistic prices, no immigrants make it to Ohio.
Should I buy a house outside of Boston? It seems expensive, but a lot less so compared to Cali
Because im an poorfag. Ill be able to start buying in a year or two.
Looking a bit into the american real estate market i find that location matters more than in many other countries i know of.
You can get a caste in the countryside for the same price as a shed in SF, PA, LA or NY.
But does anyone really buy the shithole house for these amounts?
I mean if I had $3,000,0000 to spend id take the masnion of course.
Or is it just the property that is bought by investors to build appartments?
Should you out of choice? No way. Boston houses are old as fuck. They are literally the ugliest fucking houses in the country. As an investment though it may be good, and the jobs pay much higher.
How do I short the housing market and make billions like Steve Carrell and Christian Bale?
Actually in competitive areas like San fran, NYC, and Boston, people almost always pay above listing, while if you look at that house in VT, it was already marked down from 4mil previously and will probably not sell for listing.
I don't know about other countries, but a job in palo alto or NYC will literally pay 4-5 times the amount you would get doing the same job in a rural area. And no, they don't build apartments, its purely because of gigantic demand for a tiny supply of houses have a barely feasible commute to the corporate hubs. Its the just wages are so high people will pay that much.
Worse part is theses are at least close to the city.
In Sydney, Australia 20 - 30km away from the city and run down diy houses are still in the 1 million range, and we are talking small houses.
i walked down this street today to get an evo :)
OP I live in Los Altos nearby, yeah this shit is getting pretty ridiculous
what the fuck? can someone explain this to me pls, i am eurofag and not fucking getting it
I live in Menlo Park not far from there. Fuck this place. Don’t understand the appeal of living here over any other suburb desu and I work in tech
so illegal immigrants drive up the cost of living while driving down wages? Those dirty peasants. damn I sure does hope Mr Trump fixes dat and makes Murrica great again soon durr heh heh
Chinese people. They shit things up worse than Indians.
doesn't this come with 28 acres in the description?
this seems like a pretty fair price compared to the others
redevelopment. i don't know about the top house but the bottom one is in the most dense part of canada and will probably be combined with the surrounding properties to form a land assembly. a highrise will probably be built on top of it.
Not necessarily that, but it is illegal offshoring of funds from China.
Thank china. This is why their bubble will pop. Their off shore real estate investments will never pay off.
OPs pic is Steve Job's childhood home
They're not really investing, though. They're parking their money in a traditionally stable asset. You would have to destabilize that asset class enough that it becomes more hassle than its worth to store that much money like that.
Example of destabilization: A high tax on apartment building owners who cannot find tenants within six months. Would force them to list rentals more inline with true market values since paying the tax would cost more than renting the remaining units at a lower price.
This what inbreds from fly-over states think. Who the fuck would want to live in Ohio? That's why immigrants don't go there. Property i higher in CA than OH because rich people drive the prices up. Immigrants can't buy shit and live 5 families in a apartment.
Thats like 2 miles from the Googleplex and like 8 miles from Apple campus. Lots of 200-300k tech jobs in that area.
Cali real estate and taxes are outrageous though. $2.8mil buys a mansion on major acreage or lake in a lot of places
holy fuck...this picture literally makes me sick to my stomach.
my sister has been telling me that her and her husband have been looking at houses in the 2-3million dollar range in palo alto and mountain view
she has refused to send me pictures of what these houses look like
now I know why
you literally get a shack for 3 million dollars
this is fucking disgusting.
$2.7m is stretching it for what even a dual income couple making $600k/year could afford. Although it would probably be possible they would be house poor though.
Maybe in the 20th Century, California was the place to be. I would take Ohio over California. The Columbus area is nice. Relatively large Japanese influx
This. Priority is getting the money the fuck out of china and the CNY shitcoin. Problem is eventually they're going to figure out they've been memed with aus property and panic out faster than they got in. They'll cop all the heat for this too, people here have to buy property, literally China's fault for them buying high selling low
>doing what you want with your own land in Palo Alto
Are you fucking kidding me. So many immigrants in Columbus there's certain areas dedicated to them.
the Muslims/somalis on Morse road.
Lmao so glad I got out of that shithole last week
I'm looking to buy a starter in the peninsula and I can't imagine living anywhere else, even with the ridiculous prices.
What the fuck? Who the fuck buys a fucking hut for nearly 3 million fucking dollars? Don't tell me some people actually consider this. You've got to be kidding me.
i don't think you actually comprehend how many wealthy people there are in the world and how many are in California.
>reverse image search this post expecting it to really just be a pool house..
>find out it legit sold for 2m
>no wonder people are running away from california
also fuck california, yall need to stay the fuck there and stop fucking up colorado
If you're smart you're moving to areas that are just getting started in the high skill jobs.
Palo Alto is generally insane. It'll be interesting to see what happens with Bay Area real estate in the next decade. So long as tech companies stay there pumping out higher and higher salaries, it'll keep going up. But a lot of companies no longer want to deal with the cost, and are looking at moving to other cities/states. If tech starts leaving the Bay, housing could get very interesting. My personal prediction is that real estate in SF proper will retain value since it's still a major city center. All the surrounding areas that have ballooned up however, will likely crash hard.
This actually makes sense. Homeowners aren't the intended audience here, developers are. Whoever buys that just wants the land underneath to develop another apartment building.
Who would want to live anywhere near Sydney though? Fucking filthy shithole
When your born into it and don't know anywhere else to be. I will be rich don't worry It's cemented that I will win the lottery tonight.
That addition is hideous.
California city, state, and county governments are insanely bloated. All basically supported by all the tech companies. They keep pushing out dumber and dumber regs and taxes on businesses. Eventually the tech companies will get squeezed out.
It'll be interesting times when it all comes crashing down
Hows all the chinks and roided up lebos?
Is your family well off or do you guys struggle to pay your 1000$ a week rent?
>5.4 million usd for some shithole in hongcouver
It´s in spanish, just look price and pictures. Good ratio?
idk man, people thought the same about lowell and nashua
I'm thinking of buying in one of the boston suburbs though or maaaaaaybe salem, nh
well off? I live in the ghetto shit hole but they do alright, manage to put us up for free.
They are everywhere, minus chinks on roids all the lebs think they're zyzz bbruh and carry there mothers got-to-dress-better-then-abduls-family mentality but seem to stick to there own or a friendly enough under right circumstances.
lebos are the dodgiest cunts out though, they drive in the insured compensated Mercedes or they own some business write off and I'm pretty sure almost all of them have some affiliate who they launder money for. They keep it in there communities though.
Jesus fuck. The real-estate market are full of assholes.
Fuck this stupid state.
>all the lebs think they're zyzz bbruh and carry there mothers got-to-dress-better-then-abduls-family mentality
Fuck that would drive me insane. Hate that zyzz cunt
Its also hilarious how in these cities where every 0.1 acre ranch is worth multiple millions their are huge ass cemeteries where dead people live rent free.
Those facts increase the demand for housing. But there is also a supply issue. Palo Alto has extremely restrictive building codes. There is a height limit on buildings and multiple unit housing; can't be more than two or three stories. In most cities, multi unit housing would be increasing to accommodate increased demand. In Palo Alto, demand increases, supply can't follow, so price increases.
And, if traffic is a bastard, then living close to work is a premium. I pay much more per sq/ft than I could, just to cut down on commute time. I know of people spending 2 hrs both ways in traffic.
Or you can just lock the rooms no one ever uses. Dust only appears when it has organic material to feed off of. That's why rooms that have been sealed off for decades never have a lot of dust.
I honestly can't believe there are retards willing to pay millions of dollars to live in houses smaller than the one I paid $200k for just so they can live in the shittiest state in the country lmfao
>dead people live
They sure do, pal.
For $3 million you can get a beautiful apartment in the nicest part of Manhattan. He'll, you don't even need to spend that much. Go further uptown and you can get one for like $1 million
We do so to be closer to high paying jerbs. Also the weather is remarkable.
Enjoy the Fukushima radiation slowly seeping into your brain and all of your food.
Yea I understand what you mean user.
>buying an overpriced house in a warm climate when you can just buy a cheap house somewhere temperate and AirBNB there in the winter
It's pretty good stuff.
Maybe in certain cities, but I check Chicago listings every so often and there's some seriously undervalued stuff. 2 story brick duplex in a gentrifying neighborhood for $190k....
that toronto tier kinda price, fuck me ur market is equally fucked as ours eh..i'd say ours is about 20-30% worse tho. very rare to buy a house under 900k unless its a ghetto or over 2 hour out of the city
unironically 1.4 miles from my multimillion dollar shithole on park blvd. silicon valley is garbage. get out and go somewhere nicer and more affordable user...
the mexican and black population is too close geographically. Victorville is one of the biggest shitholes in socal now
listen the term bubble is in a bubble
The property taxes in nh are murder. Its the only thing they tax so they make it count.
Just lol if you believe Bay Area real estate is in a bubble. Back in 2008 the peninsula market barely budged when shit hit the fan. It was only the outskirts East San Jose, Modesto, Tracy that got hit hard. I have lived here my entire life RE was always expensive here. This Bay Area market is underpriced if you ask me.