[quote=profhoff]Nice post. I’m just trying to make sense of the market. Prices don’t seem tied to fundamentals. Not to middle income wage increases, not to high income investment returns. I don’t get it.
I currently own a home in NCCSD SW C’bad, but would like to live closer to friends and colleagues which means SB, DM area. Good luck with that.
I think we’re priced out. :([/quote]
One thing that I think people need to also accept in general is that to live in CA and if you think of a “coastal” place, those places and most places in metro CA (SF, SV, LA, SD) will never be affordable for “middle” income people.
Middle income americans weren’t meant to buy homes here at the 700-1mil min to play price when you can go to Vegas or Texas and buy a nice decent place for 200k.
I actually think we will be more like Europe and most people will just end up renting moving forward in a lot of areas in CA.
With a global economy and wealth all over the world, people who have the wealth (stocks/houses) aren’t in any rush to sell and supply is still pretty limited overall here.
