Jimi Posted August 11, 2021 Report Share Posted August 11, 2021 Remote-Working Prospects + SF is a Needle/Shit-Infested Cesspool = Young Rich Families Moving to the 'burbs. They have deep pockets and wanted space: that dynamic drove demand around us to escalating heights for months & months. FWIW, however, it feels to me like the real estate market has peaked. Two months ago, my wife & a college pal who lives nearby in the same zip code & I would play "Guess the Closing Price" on attractive Redfin listings. My rule was to add $500K to asking, which was pretty close to reality. Now, you're seeing aggressively-priced houses sitting longer, and in some cases, not moving. What's even more insane is the pricing of desert property out near Joshua Tree, a market I have watched religiously with purchase-intent for 20 years. I mean... desert shrub land without water or utilities used to be highly illiquid & cheap out there. Now... $151K (originally offered at $99K) will buy you this: https://www.redfin.com/CA/Landers/2360-Sand-Dr-92285/home/3858001 Link to comment Share on other sites More sharing options...
DrStool Posted August 11, 2021 Author Report Share Posted August 11, 2021 36 minutes ago, Jimi said: Remote-Working Prospects + SF is a Needle/Shit-Infested Cesspool = Young Rich Families Moving to the 'burbs. They have deep pockets and wanted space: that dynamic drove demand around us to escalating heights for months & months. FWIW, however, it feels to me like the real estate market has peaked. Two months ago, my wife & a college pal who lives nearby in the same zip code & I would play "Guess the Closing Price" on attractive Redfin listings. My rule was to add $500K to asking, which was pretty close to reality. Now, you're seeing aggressively-priced houses sitting longer, and in some cases, not moving. What's even more insane is the pricing of desert property out near Joshua Tree, a market I have watched religiously with purchase-intent for 20 years. I mean... desert shrub land without water or utilities used to be highly illiquid & cheap out there. Now... $151K (originally offered at $99K) will buy you this: https://www.redfin.com/CA/Landers/2360-Sand-Dr-92285/home/3858001 No wildfire risk. Link to comment Share on other sites More sharing options...
DrStool Posted August 11, 2021 Author Report Share Posted August 11, 2021 I really thought that the Four Laws of Market Dynamics post would go viral. Shows you how much I know. 16 views. 16... Does no one have a sense of humor anymore? Or is mine just that warped? Link to comment Share on other sites More sharing options...
DrStool Posted August 11, 2021 Author Report Share Posted August 11, 2021 Answer C. Link to comment Share on other sites More sharing options...
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