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US Real Estate Winners And Losers By City
It took a while, but after going nowhere for the past year and in fact declining significantly on a Year over Year basis, the second tech bubble has once again managed to "trickle down" into the San Francisco housing market, which in the month of February saw the west coast tech mecca as the sterling outperformer of all US real estate markets according to the latest Case Shiller data. On the other end: Cleveland was down -1.0%.
It was not immediately clear where Baltimore ranks on this series.
Source: Case Shiller
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my niece just sold her house in Palo Alto...3 offers on the first day...above asking price....wow.....my condo in Denver took 6 years to sell..its under contract...and not at asking price...but we have water and a pot store a block away....what could anyone want more...go figure
"Water? Water? We don't need no stinkin' water, senor."
Miami/S.FL is seeing a condo construction boom that would embarass 2004-2006!
What's a Baltimore?
San Jose real estate is on fire. Homes are increasing in some areas $100k per MONTH! There is panic buying from Chinese nationals right now. By the time a prospective Chinese investor gets their visa and plane tickets to close the deal (must be signed in person) the house is sold to some other Chinese investor already stateside.
The organizations that are helping pool Chinese money to buy in NY and the Bay Area are trying to front run their own clients.
Makes we wonder if we aren't seeing the initial trickle of the flood of US dollars about to be repatriated into the US as the dollar gets rejected abroad. We all know that hyperinflation can't happen with just money printing. There has to be velocity as well. Is this the front wave?
Hyperinflation cannot happen in the presence of confidence.
Do you have more faith in any other fiat, than the dollar?
Just one more layer on top of this house of cards. I just know those bottom cards can sustain......................woooosh....it'll happen really quickly....prepare accordingly.
There is no San Jose, or Milpitas, or any of that shit.
It's all Silicon Valley. Didn't you get the memo? ;)
Chinese capital is fleeing China and washing up stateside. That is supportive of the dollar, not a rejection of the dollar. As China's foreign reserves dwindle, China will be forced to devalue the reminbe. They probably want to do it anyway to compete with the Japanese.
WWith a stronger USD wages will stay stagnant or depress. RE and equity of course could continue on northerly course thanks to QE (it never ended) and Chinese fleeing collapse in China (someone will take the fall .. and you don't want it to be you).
Ergo, the US is about to enter the - hyper stagflation stage. It is a stage where places like Baltimoar become Baltiless.
Could it be all those fleeing Venezuelans?
(They aren't all broke you know...)
Detroit had a rise in property value? Must be because they started with a negative value.
And increasing faster than NY? Doesn't seem correct. There are luxury skyrises shooting up all over Manhattan these days.
Baltimore has had recent, material reduction in supply....should drive up prices.
Lots of broken windows in Baltimore. jobs, Jobs, JOBS!!!
Well, as the folks in Ferguson have learned, giving thugs "space to destroy" often depresses demand more than supply.
The new normal - soon you will be able to
Buy a home with a negative value - using a negative interest rate mortgage.
Let's see.... buy a home with negative value, go to the bank and get a mortgage where they owe you money.... at a negative interest rate.... so you still have to make payments?
If the bank gives you a $360,000 loan at a negative 1% your payment is $857.08 a month.
So after 30 years of paying you will have given the bank $308,547.06.
You get to keep the $51,452.94 in "interest"
But if they are giving out negative interest loans - just borrow the money to make the payment!
New hockey arena being built, and that means old blight being removed. New baseball and football facilities in the last few years too... and all in the downtown core, not in the suburbs. I wonder if that's in the calculation... at least partially because new arena condos will cost $$$$$.... and blight that's removed will no longer hold values down...
you can't cure stupid (Calif RE buyers)
Hey, why is Baltimore not on the list?
they have nothing to sell....you just steal it...
Where's Baltimore?
a short Amtrak ride from our nations capital...rioters get a discount..
ya, kind of wondering where there got that Denver data. My clients rent slums to students; up up up. Hispanic communities like Commerce City, down down down.
Apartments and rents going sky high in the high Mile High city.....another 10,000 to be built this year....the Democratic legislature passed a builder liability law that states anyone can sue forever for a defect in a house you built....guess what....home building has stopped....go figure...gotta love the liberals....they are so dumb...
Top of the list, closest to the popped bubble.....
You want to go Full Retard, go look at Canadian RE values.
And speaking of that, Detroit is UP? Comical...
Detroit is up cuz those $1.00 houses are now $1.01
Pretty simple really. Prices are being bid up in places (cities) where people want to live or move to. Prices are stagnant or dropping elsewhere.
San Francisco nevers goes down.
And it has now become Manhattan West.
would you like to place a bet? I bet you 2 years from now....the prices will be at least 20% lower!
I bet more than 20% off whatever high they get to.
http://www.myrtlebeachonline.com/news/local/article19310712.html
The chinese are just following in the footsteps of the japanese.
gonna end the same.
Who doesn't love a bubble?
Everybody Loves Kim's Bubble!
(grease me up baby through the hole posts of life)
BaltiMOAR!
Media will scream that every day if the Baltic Dry Index hits 11,000 again.
y'all are youngins..... we've been through this before. i was in high school in silicon valley in the '70s, and real estate was "crazy, no lose, always up". a good friend of mine went into the business of buying and managing apartment complexes. stinking rich through leverage before i got out of college. then he was dead broke, bankrupt, before i was out of grad school. he worked menial jobs to get another bankroll, and was stinking rich again on the next wave. several cycles later he hasn't a penny to his name and is literally lying drunk on street corners in a different city, soiling himself.
i also remember prior waves of asian money washing ashore in the US. in those days, they bought movie studios, high rise buildings, and other overpriced assets which usually got sold back to americans within 10 years at a deep discount. it is really a nice way to top off a ponzi scheme.....you just bring in external wealth from (japan, china, mars) to buy out the present owners before pulling the rug out. with real estate, it is just done retail instead of wholesale. meh.
Silly-con Valley will implode the second the dumb money realizes you can't make money on vapor-ware v2.0 (or whatever itteration it's at).
I'm just a dumb fuck, but buy low, sell high, has always worked for me... we're currently selling a couple places so we can buy our retirement place in San Diego after the next crash.
Just sayin...
right! correct! you betcha!
properties in areas traditionally called "vacation property" seem to have a higher beta....and are even better bargains during a crash, which works well for a lot of us for retirement if we can get the damn timing right.