Real estate General topic

[MAX-24-Dean]

That is the effect of increasing the money supply since 2019 at a pace not seen since the federal reserve was created. A 5 gallon bucket used to be .99 and they are now 4.99.

Maybe soon, that a five gallon bucket filled with dollar bills will have more value than the money in it.

 

[ultrarunner]

With prices falling (Here) and rates easing I would think it would be news worthy and spur buyers?

Location translated into demand is the market fundamental.

Prices don't go up without willing and able buyers... yet the news often spins this as a bad thing?

Time has taught me is cyclical nature of Bay Area Real Estate... and many only become motivated after they see values trending up as in buy now before they go up more.

A grocery clerk that bought 5 homes in the lead up to the crash of 2009-12 told me today's high price will be looked back as a bargain...

What he didn't take into account was having the resources to weather financial down turns...

If you own the home where you live it matters little what it's worth is on a day to day basis...

 

[WinterDeere]

I can manage rentals but what has happened in the last 20 years to housing providers to get bad tenants out is a travesty...

All of these costs will be reflected in rental price increases, from larger property management firms, allowing the independents to also raise their pricing.

If lawmakers are going to pass stupid laws to protect deadbeats, it only costs the honest customers more. A rental market that routinely operates at a loss will cease to exist, altogether.

 

[ultrarunner]

All of these costs will be reflected in rental price increases, from larger property management firms, allowing the independents to also raise their pricing.

If lawmakers are going to pass stupid laws to protect deadbeats, it only costs the honest customers more. A rental market that routinely operates at a loss will cease to exist, altogether.

Maybe, depending on location.

Several years of forbidden increases and now allowable increases are 60% of the Consumer Price Index… “If” all the criteria is met and your request with the city approved.

A new requirement is providing the city with name of each occupant on the rental agreement which I have not…

I’ve seen regulation go from habitability standards 45 years ago to what we have now.

No idea how it will all shake out as many local rules are being adopted statewide with talk of going nationwide which includes renting a room in a home occupied by the owner… if more than 30 days.

 

[WinterDeere]

Wow. Losing proposition, in every way.

If successful, it'll be good incentive for no one to ever buy property in CA, it'll be far cheaper to just rent!

Whoever wrote that 60% rule must not understand basic compounding, the gap will only grow with time. If CPI averages around 4% for 10 years, the landlord's approximate costs go up 48%, but they can only increase rents by 27%. Brilliant.

The landlords costs will double every ~18 years, at least those that track with CPI, yet rents will only double after 30 years!

 

[ultrarunner]

Wow. Losing proposition, in every way.

If successful, it'll be good incentive for no one to ever buy property in CA, it'll be far cheaper to just rent!

Whoever wrote that 60% rule must not understand basic compounding, the gap will only grow with time. If CPI averages around 4% for 10 years, the landlord's approximate costs go up 48%, but they can only increase rents by 27%. Brilliant.

The landlords costs will double every ~18 years, at least those that track with CPI, yet rents will only double after 30 years!

There are high paid professionals with SF rent controlled apartments that hit the lottery as they pay a fraction of market.

Folks started leaving units vacant but the the cities instituted a vacancy tax depending on the definition of vacant it might cost the owner as much as an extra 6k per year to keep property including lots vacant.

One work around is listing for sale to avoid… lots of property now listed… including most undeveloped lots.

 

[caver]

Shed repo guy with families? living in both sheds that he's there to repossess. You can skip the first 3 minutes and things get heated not long after. Another driver had been out there before and they got the run around then.

 

[tradosaurus]

Taking a ride out in the country in our SxS my wife and I saw another house for sale. 2000 ft2 with 4 acres. House built in 1970's.
Asking price is $299k. That house will sit and rot at that price. Maybe worth $150k if you're feeling generous.

 

[paulsharvey]

Taking a ride out in the country in our SxS my wife and I saw another house for sale. 2000 ft2 with 4 acres. House built in 1970's.
Asking price is $299k. That house will sit and rot at that price. Maybe worth $150k if you're feeling generous.

Down here, that would be a pretty fair asking price. Maybe go for $250k, but it would likely have some possible hits at $299k

 

[kenmbz]

I saw a house my buddies wife is selling back where I grew up.
Expected to see 300-400, was 697,000 -----

Crazy