Bay area housing market

[HappyHighwayman]

I honestly think the advocates of the plans to ban market rate housing in the mission are on crack (like actually smoking crack cocaine):

http://www.bizjournals.com/sanfranc...oratorium-affordable-housing-plan-campos.html

“There are creative ways we can deal with limitations. I’m not worried about that,” Campos said. “We’re going to shift this paradigm and think outside the box.”

I had to re-read this 5 times to be sure someone actually said it.

ALso to devote $500M+ to the mission would be abandoning all other hoods. Also as noted, what they're suggesting is also likely illegal.

 

[tgrrdr]

I'll just leave this here...

http://onforb.es/1GCXRxs

Page 3 has an interesting comment on real estate in the Bay Area.

And some local homeowners will take a bath. According to Harry Dent, after the bubble bursts, “there’s no way real estate’s going to hold up, especially in Silicon Valley,” he said. “A lot of people are going to lose money. People who bought $3 million homes at the peak are going to watch them drop 30, 40, 50%.”

meh. I have a hard time extrapolating this quote to the entire BA. You only lose money when you sell. I know some people decided to walk away when their house was under water but as long as you have a job/can afford the payments it's not necessary to walk away because values went down.

Buy a house now that you can "afford" and want to live in for a while and don't worry about what the market does. Think of your house as a place to live and not an investment and you'll be happier.

 

[Sharky]

I honestly think the advocates of the plans to ban market rate housing in the mission are on crack (like actually smoking crack cocaine):

http://www.bizjournals.com/sanfranc...oratorium-affordable-housing-plan-campos.html


I had to re-read this 5 times to be sure someone actually said it.

ALso to devote $500M+ to the mission would be abandoning all other hoods. Also as noted, what they're suggesting is also likely illegal.

The SF city Stupidvisors don't feel constrained by "the law" or common sense.

 

[HappyHighwayman]

Well if they pass an illegal law it will be struck down by the state government.