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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (1730)	6/17/2013 2:19:16 PM
From: tejek	1 Recommendation Recommended By Jurgis Bekepuris Read Replies (1) \| Respond to of 2722

I am looking at the rest of the nation and seeing many of the same characteristics more often than not these days.. You may well be right but I guess I see things differently. First bubbles usually don't happen at the beginning of the recovery. Secondly, prices are moving up primarily because too many people are still underwater and are keeping their homes off the market. In the meantime there is pent up demand........its that combo that's leading to big price jumps. Having said that, as I posted yesterday, bidding wars are starting to abate. Thirdly, there is still way too much slack in the economy and too many people unemployed. That's makes it harder to create bubbles. All IMO of course.

To: John Vosilla who wrote (1730)	6/18/2013 12:21:35 AM
From: tejek	Read Replies (1) \| Respond to of 2722

Bubbles, bubbles everywhere. ;) Silicon Valley Housing Explosion Means This Cottage Costs $1.1 Million The little 70-year-old house at 353 Carmelita Drive is about as unspectacular as American real estate gets: two bedrooms, one and a half baths, and a modest 960 square feet. Elsewhere in the country (or at least the state) you could probably snatch it up for around a quarter million, tops: but in Google's back yard, it's four times that. There's a redone kitchen and some nice bamboo floors, but really, what you're paying here is the privilege of living in Mountain View, which like many Silicon Valley regions, has seen its property values explode alongside stock prices and IPOs. SExpand A value estimate from the real estate site Zillow paints it pretty clearly: everything is getting more expensive, including this tiny dull house. There are more new money millionaires ride-sharing across California than ever before. They pay cash. They move fast. They might dig the modesty of quiet residential plot. They might want Zuckerberg-chic, not ostentation. This isn't a problem if you're a well-to-do software engineer, but for the rest of humanity, you're suddenly priced out—because when everyone's making money changing the world, even "cottages" are for millionaires. Just wait for an app to find the rest of California an affordable home, I guess.