1/ You’ve probably heard how awful the affordability of the #BayArea at some point.
We recently bid on a 3 bed 2 ba ranch off market for $985k. Built 1957, 1200 sqft, one car garage, 4000 sqft lot.
11% down, it’d be still over $6200/mo (mortgage+taxes) + $3600 in childcare.
Conversation
I am very bearish on SF real estate at the moment. Prices can come down a lot. The highest paying jobs are the ones most conducive to remote work. Why tolerate the filth when you don’t have to? The brain drain is happening and real estate will see a corresponding decline.
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The super relevant NYT told my grandma this. nytimes.com/2019/03/07/sty
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Brokers will say anything. IPO giving you liquidity also gives you options. Given that the inventory is so thin, it might not be a bad strategy to wait a bit to sell but I don’t see many cashing out to buy in SF.
