real estate craziness
Original post made by hoops on Mar 15, 2013
on Mar 15, 2013 at 7:24 pm
Please esplain how you've come to believe that $650,000 is a too high?
besides, it has a lovely view of a gas station...duh
plus...if it sells to somebody from another part of the world, is that cool?
on Mar 15, 2013 at 7:30 pm
dublinmike is a registered user.
There is a major problem in the Bay Area. Low inventory, high demand. Investor groups gobbled up the cheap homes. Silicon Valley worker have moved up to Pleasanton. Pleasanton, Livermore and Dublin want to provide for more high-tech employment and that attracts people wanting to live in the Tri-Valley.
It all adds up to increasing home prices. Only relief is to build out more homes. We live in another south bay and peninsula environment. As a life-long resident of the valley and of the east bay, I speak with authority.
on Mar 16, 2013 at 9:58 am
I understand all about supply and demand.The problem is when the investors buy everything cash and deny regular people looking to buy a home at a decent price.Of course they can still buy the home from the investor if he is flipping it,but of course for a lot more money.Money rules the world as always.The investors rationalize it all saying they are putting people to work fixing up these homes,but who exactly are they putting to work?Lets be real here.Cheap labor to maximize their profits.So the bottom line is majority of the work is not done by licensed contractors and the reality is it simply makes it much more difficult for someone to afford a house.So that 1529 ft house costs 650,000 instead of 550,000,even if it is just a normal resale.The investors create the shortage.