Speaking of overpriced real estate.

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Around here they are trying to get $30,000 for 0.13 acres.

Buy the same property with a house and it's $40-80k

Spend $30k a ways out of yuppy ville and it's 60 acres

Under a year ago real estate was half the price it is now, 2 years from now there will be a lay-off at the single place of employment and the houses will loose 2/3's their value.

I am uncertain why people are stupid enough to pay what they are for 130 year old houses just because there is currently employment in the area.

Years ago houses SLOWLY gained value and didn't pop up and down in value every 6 month
 
Check this out.... $235,000. 364 sq/ft. It doesn't even have running water. Also read the comments to the article. Amusing.

https://www.sfgate.com/realestate/a...ay-East-Oakland-real-estate-13573432.php



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Originally Posted by MolaKule
It does have a fenced yard.
grin2.gif



I needs concertina wire atop the fence for the suns rays to glint off of, at the dawn of another beautiful day.

grin.gif
 
That's duck and cover country near the Coliseum but that "house" is definitely relative to prices...a dump like that in the flat lands of Oakland will buy you a median priced home in many area of the country...but things are changing. Last year, a 1000 sq. foot house that burned in a similar area of Oakland sold for 350K because of the opportunity cost. Not sure that would happen as easily today...they might only get 300K for charred wood now.
 
They can only get what people are willing to pay . And if your going to pay those prices you must have some a screw loose , but I would imagine they would go up barring another eco meltdown .
 
The better question is why would a bank loan $$ for that pile of garbage? I don't understand California prices. People pay $450,000 for a house and let it look abandoned.
 
Location indeed.

My neighbor growing up/ grandfather figure owned some decent amounts of land in Alaska. Bought it dirt cheap when he was 20 or so traveling around. Got annoyed by all the calls and finally sold it. Worth a few million now give or take.
 
My parents bought their home in Sunnyvale, CA (3/2, little ober 1600 sq ft) in late 1969 as it was being built. List price was $32K; they paid $27K I believe.
Prices were $2M plus last July-August; the current price guesstimate is $1.8M.
Heck of an investment...

I paid $335K in 1994 for our home in Los Gatos, CA (3/2, 1100 sq ft). I put maybe $200K into it as it was a mess. It's worth about the same as my folks home.
Easy $$.

Nobody coulda guessed what would happen in Silicon Valley. Dumb luck.
 
I grew up in Millbrae and lived in San Bruno until 2000 When I visit the Bay area all I think is what a poop hole it has become compared to when I grew up there. There is opportunity there and there is usually a reason an area becomes valuable.
 
Hello,

I am currently visiting friends for a long weekend at their condo in Mountain View, CA.

I have travelled quite a bit over the years, including NYC, Boston, D.C., San Diego, Sydney, Australia, London, and Europe. I thought I had a "feel" for the cost of living in those cities, including housing.

Why, then, was I shocked when the Uber driver in Santa Rosa, in her late 50s, told me she was paying rent of $1,600 per month for a one bedroom, one bath, 590 sq. foot apartment?

With on street parking included! Doh! Sign me up!

And that shock came before I imbibed at Russian River Brewing with a couple of Pliney the Younger.

I know, what did my friends pay for that MV condo? Don't ask.

I know it's Silicon Valley but what really surprised me was the number of campers that were parked along certain streets. Why? I was told those campers belonged to Silicon Valley workers who could not afford housing in this area (Mountain View and Palo Alto).
 
Its simple, if you can't afford to live in ____ city.... don't move there and complain.

I'd love to live in Malibu but it's out of my budget.
 
Originally Posted by dkryan
Hello,

I am currently visiting friends for a long weekend at their condo in Mountain View, CA.

I have travelled quite a bit over the years, including NYC, Boston, D.C., San Diego, Sydney, Australia, London, and Europe. I thought I had a "feel" for the cost of living in those cities, including housing.

Why, then, was I shocked when the Uber driver in Santa Rosa, in her late 50s, told me she was paying rent of $1,600 per month for a one bedroom, one bath, 590 sq. foot apartment?

With on street parking included! Doh! Sign me up!

And that shock came before I imbibed at Russian River Brewing with a couple of Pliney the Younger.

I know, what did my friends pay for that MV condo? Don't ask.

I know it's Silicon Valley but what really surprised me was the number of campers that were parked along certain streets. Why? I was told those campers belonged to Silicon Valley workers who could not afford housing in this area (Mountain View and Palo Alto).




Mt. View is a great city; I work there. Google is everywhere in Mt. View. "The Google..."
There are dozens of those camper homes parked on El Camino Real on the gorgeous Stanford University border.
Truth be told, we do have a housing crisis in Silicon Valley. While it is certainly nice to have such incredible equity, when our Police Officers, teachers, etc. cannot afford to live here, that's a crisis.
And I don't work nearly as hard as they do, I'm sure.
That's called the market.
 
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