@Patrick I don't think that $1000 per sq ft in Mountain View, CA is real. I've been reading SF is the crazy market now. This article says you can get houses for $330k Homebuyers in pricey markets are now scared to dream
You definitely couldn't buy a home in the Bay Area on $7-8 per hour today!Real estate price has its silver lining.
Back in President Carter administration, mortgage interest rate was as high as 15-16% APR, inflation was double digits.
I was able to purchase a single family house in SF Bay area for $2,500 down payment due to scarce buyers.
The down side is that I was only making $7 - $8 per hours. Eating one full meal a day, working 60-80 hours to pay the mortgage.
After 15 long years, the house is fully paid for, and generating over $2,500 per month rent.
Just wait for the next housing bust cycle,
I still remember that you could not sell a San Francisco single family house for $200K in year 1990 , and $400K in year 2007-2008.
Urgh, the Melbourne renters market is busting my chops so bad right now!US real estate has certainly come back up is some areas since the subprime times.
Prices like that make it look likes Australia (Sydney/Melbourne)
There are other parts of the country where the US market is getting soft.US real estate has certainly come back up is some areas since the subprime times.
Prices like that make it look likes Australia (Sydney/Melbourne)
I was young back then. Later I learnedYou definitely couldn't buy a home in the Bay Area on $7-8 per hour today!