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Lot of foreclosures in Bay area


Catalpha

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Corona will change the course of the Bay Area real estate for the worse. Since companies are hiring remotely most of the employees will chose to stay out of Bay Area, already rents are dropping very quickly in SF and Bay Area, next to follow are the home prices. It will take 3 to 5 years for the trend to be sizable enough to show up on paper, so don't look at today's sales and assume that it's going to hold up.Corona is not an ordinary recession, it's effects will be felt for a generation, 20 years from now you will look back and realize how it shaped the future of commercial real estate and overpriced cities.

 LA and Seattle also will be impacted. 

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10 minutes ago, JambaKrantu said:

Corona will change the course of the Bay Area real estate for the worse. Since companies are hiring remotely most of the employees will chose to stay out of Bay Area, already rents are dropping very quickly in SF and Bay Area, next to follow are the home prices. It will take 3 to 5 years for the trend to be sizable enough to show up on paper, so don't look at today's sales and assume that it's going to hold up.Corona is not an ordinary recession, it's effects will be felt for a generation, 20 years from now you will look back and realize how it shaped the future of commercial real estate and overpriced cities.

 LA and Seattle also will be impacted. 

your brain is working 24/7. koncham rest ivvu.

 

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7 minutes ago, DummyVariable said:

Not a bad idea to buy them at the auctions, refurbish them and flip them later, but the market will not stabilize anytime soon. The risk is how long can one wait before the interest rates eat into your money.

That's what the Chinese will do, they already own half of the Bay area, probably will buy the rest now. 

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