Insane price tag!

[ohio herd]

This is what you end up with when liberal run your state. Please don't let them know this is foolish to purchase a 100,000 house for 2m.

https://www.mercurynews.com/2018/03/02/sunnyvale-home-shatters-new-record-with-enormous-price-tag/

Cali already has a huge homeless problem. When the bubble pops it will be out of control. No way they can keep this artificial price racket going.

 

[HerdBuckeye]

This is what you end up with when liberal run your state. Please don't let them know this is foolish to purchase a 100,000 house for 2m.

https://www.mercurynews.com/2018/03/02/sunnyvale-home-shatters-new-record-with-enormous-price-tag/

Cali already has a huge homeless problem. When the bubble pops it will be out of control. No way they can keep this artificial price racket going.

What bubble. People have been saying that for decades. I am assuming it was a cash purchase. Do you think banks lend that kind of money. You need to do some research on lending percentage of purchase ratios.

 

[-CarlHungus-]

What bubble. People have been saying that for decades. I am assuming it was a cash purchase. Do you think banks lend that kind of money. You need to do some research on lending percentage of purchase ratios.

It very well could have been a mortgage, though I’ve heard lots of Chinese money is pouring into the west coast real estate markets as well.


I have forner colleagues in LA and San Fran. They are dual income medical/dental professionals that make probably $600k+/year. They live in nice but small 2-3 br /1-2 bath townhouses that go for about a million or more, purchased on a traditional mortgage. Those same places in mid size cities like Columbus or Pittsburgh or Charlotte or Nashville would probably be closer to ~300k, depending on some factors/location.

It’s always amazing to me the cost of living differences across the country.

 

[GreenDuke]

It very well could have been a mortgage, though I’ve heard lots of Chinese money is pouring into the west coast real estate markets as well.


I have forner colleagues in LA and San Fran. They are dual income medical/dental professionals that make probably $600k+/year. They live in nice but small 2-3 br /1-2 bath townhouses that go for about a million or more, purchased on a traditional mortgage. Those same places in mid size cities like Columbus or Pittsburgh or Charlotte or Nashville would probably be closer to ~300k, depending on some factors/location.

It’s always amazing to me the cost of living differences across the country.

Not only the WC but the Boston - New York corridor.

 

[ohio herd]

What bubble. People have been saying that for decades. I am assuming it was a cash purchase. Do you think banks lend that kind of money. You need to do some research on lending percentage of purchase ratios.

Do you think that is sustainable? As prices have arbitrarily increased in Cali it has made it almost impossible for many to afford housing. Maybe you should look at the data of how this hurts real people instead of data that shows whether or not people pay cash or the trail leads to Chinese investors looking to dump cash.