thats a correct list but since you didn't drill down, you have a ton of apts condos in there. Thats the problem with CL.
Ok, you got me, I didn't drill down before, so I just drilled down. Everything on that list I scraped between $2k-3k is a SFH or townhome, so I'm not sure what you're talking about. Maybe you are just looking at stuff below $2k?
Do you dispute that rents are now over $3K for desirable properties?
To argue that would be stupid, I guess. The rental market is totally location dependent. I don't know that Willow Glen is all that desirable because all those Willow Glen houses on Craigslist would go for 50-80% more in Palo Alto (probably the most desirable of all Silly Valley rental markets). So, what is desirable?
My house is a 4br, so I am including 4BRs.
This is new information that we didn't know until right now.
SO, based on all of this what is your view on the AVG rental in SIlicon valley today, pricewise? That would be something remodelled and not a dump.
Looking at Craigslist, it looks like a nice 3bd/2ba would run from approx. $2200-$4000 depending on location in Silly Valley.
The reason people are rec'ing your posts has nothing to do with rents here, they are trying to "talk down" real estate in SV or something.
I don't think that's the reason people rec my post.
edit- btw my theory on why rents are going through the roof in SV is because offshoring has become economically unfeasible due to the crashing dollar
I agree that offshoring is being slowed. I don't know how much that is causing a rise in employment here. In fact, the latest figures show that unemployment in Santa Clara county is rising. Tech jobs aren't being hit yet, although we are starting to get some layoff announcements.
I think that people are renting because they are waiting for a bigger crash. The closer in places are obviously hotter than the far-flung places.
For sure, rents have climbed. My guess is by approx. 30-60% from the 2003 lows depending on the area, not "literally overnight." |
