Do I need to remind you that you were the one to resurrect this thread this week?
Are we a threat to your livelihood because you sure aren’t of mine.
First some truth from you. You left for lifestyle (your kids) and lower cost of living. There is nothing to be ashamed of for doing that but just the same no reason to throw the place that gave you the abundance under the bus.
Next some selective data from you. My data is very accurate and up to date!
Yes prices are up y-o-y but that’s because you are comparing to the late 2022 flash crash prices.
Lets look at current trends. In Nov 2023 the median there was $580K and in February it was only $485! You are in the middle of a stunning reversal of fortune!! April data may well show you down y-o-y once its available
More importantly sales volume is dropping while inventory is rapidly growing. That is what happens as market downturn begins and yours is showing all the signs of that.
Hat tip for the anecdotal “data point” from a random realtor!
Its interesting that you cite rising cost of living there aka increasing rents as a good thing in SG and a sign of market strength. Yet here it is a problem? Rental properties here rarely have vacancies and rents are here also
I dont know who Kevin Kostner is but hope its a good thing. However if its Kevin Costner you were refencing say hello for me. My ex girlfriend dated him when he was between marriages for a bit. She broke up with him because all he did was sit around smoking dope all day and never wanted to do anything fun. I guess he’ll like it out there staring stoned at the landscape.
As for property values. Of course homes are cheaper there! The land is virtually worthless while here it is extraordinarily valuable. I’m sure you know this but land is what appreciates in real estate. A house depreciates over time so that is yet another thing that will hurt SG going forward as they will be swimming upstream forever on that.
I take pride in a great world class city with a world class university that is a world leader in the industries of the future as opposed to place populated with slaughterhouses and construction workers that will be out of work in the first downturn.
Nothing about the data suggests that current trends in SG will continue. nothing.
