/biz/ - Business & Finance

Technically yes but we can keep the party going for a few years with current regulations

>>8485395
Why dont the owners knock these down and bud bigger houses if the real estate is so valuable?

>>8485395
You are like a little baby...watch this

>>8485446

Because tradesmen charge like $10k/hr to do anything and the government bans you from DIY.

11k per month mortgage. Holy fuck

>>8485395
no, you literally just picked one of the most expensive areas in the US to live

>>8485449
Is that the house from up?

>>8485395
actually looks like a good house, good lawn to house ratio and looks well managed so you wont need any renovations

>>8485493
>2.8m for nice ratio
my sides

>>8485446
zoning usually, lot size minimums or another quirk such as lack of frontage, lot width, or whatever other rules are needed to build

>>8485395
this home would cost around $125-$160k in my area

>>8485472
nooo... in 95% of the areas in the US homeowners can do whatever they want to their homes. Its the land and the demand that drives the price of property up... not the poor working slob.. trust me.. Im a poor working slob.

>>8485395
A piece of land located in a zone surrounded by multibillion companies will always be worth a lot of money as long as they remain there.

>>8485575
So people pay 3 mill for a commieblock?

>>8485395
Why didn't you buy up Detroit with your crypto riches, /biz/

>>8485660
Because nobody is rich on /biz/, everyone is just a larping neet faggot.

POST BETTER DEALS

>>8485595
Yeah same. As an ausfag i can get a 4 bedroom rental property for aud 180k
And rent it out for more than the loan repayments kekekek

>>8485449
Yeah, but 7 million maple leaves is like lunch in Chadmerican money.

>>8485685

>>8485685
>florida

lol

>>8485742
damn dood moving to Vermont

>>8485742

Damn that is absurd

>>8485685

That house looks like ass, christ. Its like a giant garage.

>>8485493
Good house? Damn Burgers
This fucking thing is a better garden shed at best.

>>8485685
>>8485742

Jesus fuck I need to get out of California...

>>8485722
I got my 4 bed for 235k last year, this year its worth about 265.. I really want to rent out 1 or 2 of the bedrooms for like 5-600 a month and since my mortgage is only 1200/mo I could keep working fulltime and pay off the loan really fast.

>>8485722
Where cunt

>>8485449
holy shit

>>8485816
Why move to Palmdale. 40 mins from La and new (06-08) 4br houses for 320k. People give it shit but its comfy .

>>8485449

>>8485834
Literally anywhere that isnt a state capital.

>>8485446
They do, but it's the lot that's expensive. This shitty 180 sqft shack in Palo Alto sold for $2M because the buyer wanted to do what you mentioned.

>>8485742
you have to hire actual housekeepers for a place like that as in not your Mexican neighbor paid in cash you probably have to w2 them. Fuck that

>>8485722
Why don't you have 9000 of them

It's unbalanced because of illegal immigrants flocking to most major coastal cities making the price of housing and living in general explode due to over population. That's why housing in Vermont and other inner states is still at more realistic prices, no immigrants make it to Ohio.

Should I buy a house outside of Boston? It seems expensive, but a lot less so compared to Cali

>>8486076
Because im an poorfag. Ill be able to start buying in a year or two.

>>8485395
>>8485742
Looking a bit into the american real estate market i find that location matters more than in many other countries i know of.
You can get a caste in the countryside for the same price as a shed in SF, PA, LA or NY.
But does anyone really buy the shithole house for these amounts?
I mean if I had $3,000,0000 to spend id take the masnion of course.
Or is it just the property that is bought by investors to build appartments?

>>8486486

Should you out of choice? No way. Boston houses are old as fuck. They are literally the ugliest fucking houses in the country. As an investment though it may be good, and the jobs pay much higher.

>>8485395
How do I short the housing market and make billions like Steve Carrell and Christian Bale?

>>8486574

Actually in competitive areas like San fran, NYC, and Boston, people almost always pay above listing, while if you look at that house in VT, it was already marked down from 4mil previously and will probably not sell for listing.

I don't know about other countries, but a job in palo alto or NYC will literally pay 4-5 times the amount you would get doing the same job in a rural area. And no, they don't build apartments, its purely because of gigantic demand for a tiny supply of houses have a barely feasible commute to the corporate hubs. Its the just wages are so high people will pay that much.

Worse part is theses are at least close to the city.

In Sydney, Australia 20 - 30km away from the city and run down diy houses are still in the 1 million range, and we are talking small houses.

>>8485449

i walked down this street today to get an evo :)

>>8485395
OP I live in Los Altos nearby, yeah this shit is getting pretty ridiculous

>>8485395
>>8485449
what the fuck? can someone explain this to me pls, i am eurofag and not fucking getting it

>>8485395
I live in Menlo Park not far from there. Fuck this place. Don’t understand the appeal of living here over any other suburb desu and I work in tech

>>8486232
so illegal immigrants drive up the cost of living while driving down wages? Those dirty peasants. damn I sure does hope Mr Trump fixes dat and makes Murrica great again soon durr heh heh

>>8486840
Chinese people. They shit things up worse than Indians.

>>8485685

doesn't this come with 28 acres in the description?

this seems like a pretty fair price compared to the others

>>8486840
redevelopment. i don't know about the top house but the bottom one is in the most dense part of canada and will probably be combined with the surrounding properties to form a land assembly. a highrise will probably be built on top of it.

>>8486232
>illegal immigrants
Not necessarily that, but it is illegal offshoring of funds from China.

Thank china. This is why their bubble will pop. Their off shore real estate investments will never pay off.

OPs pic is Steve Job's childhood home

>>8486923
They're not really investing, though. They're parking their money in a traditionally stable asset. You would have to destabilize that asset class enough that it becomes more hassle than its worth to store that much money like that.

Example of destabilization: A high tax on apartment building owners who cannot find tenants within six months. Would force them to list rentals more inline with true market values since paying the tax would cost more than renting the remaining units at a lower price.

>>8486859
This what inbreds from fly-over states think. Who the fuck would want to live in Ohio? That's why immigrants don't go there. Property i higher in CA than OH because rich people drive the prices up. Immigrants can't buy shit and live 5 families in a apartment.

>>8485395
Thats like 2 miles from the Googleplex and like 8 miles from Apple campus. Lots of 200-300k tech jobs in that area.

Cali real estate and taxes are outrageous though. $2.8mil buys a mansion on major acreage or lake in a lot of places

>>8485395
holy fuck...this picture literally makes me sick to my stomach.
my sister has been telling me that her and her husband have been looking at houses in the 2-3million dollar range in palo alto and mountain view
she has refused to send me pictures of what these houses look like
now I know why
you literally get a shack for 3 million dollars
this is fucking disgusting.

>>8487102

$2.7m is stretching it for what even a dual income couple making $600k/year could afford. Although it would probably be possible they would be house poor though.

>>8487042
Maybe in the 20th Century, California was the place to be. I would take Ohio over California. The Columbus area is nice. Relatively large Japanese influx

>>8485477
underrated

>>8487021
This. Priority is getting the money the fuck out of china and the CNY shitcoin. Problem is eventually they're going to figure out they've been memed with aus property and panic out faster than they got in. They'll cop all the heat for this too, people here have to buy property, literally China's fault for them buying high selling low

>>8485446

>doing what you want with your own land in Palo Alto

Lel

>>8486232
Are you fucking kidding me. So many immigrants in Columbus there's certain areas dedicated to them.
international grocers.
the Muslims/somalis on Morse road.
Lmao so glad I got out of that shithole last week

>>8486848
I'm looking to buy a starter in the peninsula and I can't imagine living anywhere else, even with the ridiculous prices.

>>8485395
What the fuck? Who the fuck buys a fucking hut for nearly 3 million fucking dollars? Don't tell me some people actually consider this. You've got to be kidding me.

>>8487769
i don't think you actually comprehend how many wealthy people there are in the world and how many are in California.

>>8485896
>reverse image search this post expecting it to really just be a pool house..
>find out it legit sold for 2m
>no wonder people are running away from california
also fuck california, yall need to stay the fuck there and stop fucking up colorado

If you're smart you're moving to areas that are just getting started in the high skill jobs.

>>8485395
Palo Alto is generally insane. It'll be interesting to see what happens with Bay Area real estate in the next decade. So long as tech companies stay there pumping out higher and higher salaries, it'll keep going up. But a lot of companies no longer want to deal with the cost, and are looking at moving to other cities/states. If tech starts leaving the Bay, housing could get very interesting. My personal prediction is that real estate in SF proper will retain value since it's still a major city center. All the surrounding areas that have ballooned up however, will likely crash hard.

>>8485449
This actually makes sense. Homeowners aren't the intended audience here, developers are. Whoever buys that just wants the land underneath to develop another apartment building.

>>8486693
Who would want to live anywhere near Sydney though? Fucking filthy shithole

>>8487944
When your born into it and don't know anywhere else to be. I will be rich don't worry It's cemented that I will win the lottery tonight.

>>8487824
That addition is hideous.

>>8487914
California city, state, and county governments are insanely bloated. All basically supported by all the tech companies. They keep pushing out dumber and dumber regs and taxes on businesses. Eventually the tech companies will get squeezed out.

It'll be interesting times when it all comes crashing down

>>8487965
Hows all the chinks and roided up lebos?
Is your family well off or do you guys struggle to pay your 1000$ a week rent?

>>8485449
>5.4 million usd for some shithole in hongcouver

It´s in spanish, just look price and pictures. Good ratio?

http://www.zonaprop.com.ar/propiedades/inmejorable-chalet-sobre-predio-de-2100-m2-42838526.html

>>8487824
>Manchester, NH
idk man, people thought the same about lowell and nashua
I'm thinking of buying in one of the boston suburbs though or maaaaaaybe salem, nh

>>8488025
well off? I live in the ghetto shit hole but they do alright, manage to put us up for free.

They are everywhere, minus chinks on roids all the lebs think they're zyzz bbruh and carry there mothers got-to-dress-better-then-abduls-family mentality but seem to stick to there own or a friendly enough under right circumstances.

lebos are the dodgiest cunts out though, they drive in the insured compensated Mercedes or they own some business write off and I'm pretty sure almost all of them have some affiliate who they launder money for. They keep it in there communities though.

>>8485395
>$2,795,000

Jesus fuck. The real-estate market are full of assholes.

Fuck this stupid state.

>>8488179
>all the lebs think they're zyzz bbruh and carry there mothers got-to-dress-better-then-abduls-family mentality
Fuck that would drive me insane. Hate that zyzz cunt

Its also hilarious how in these cities where every 0.1 acre ranch is worth multiple millions their are huge ass cemeteries where dead people live rent free.

>>8487102
Those facts increase the demand for housing. But there is also a supply issue. Palo Alto has extremely restrictive building codes. There is a height limit on buildings and multiple unit housing; can't be more than two or three stories. In most cities, multi unit housing would be increasing to accommodate increased demand. In Palo Alto, demand increases, supply can't follow, so price increases.

And, if traffic is a bastard, then living close to work is a premium. I pay much more per sq/ft than I could, just to cut down on commute time. I know of people spending 2 hrs both ways in traffic.

>>8486076
Or you can just lock the rooms no one ever uses. Dust only appears when it has organic material to feed off of. That's why rooms that have been sealed off for decades never have a lot of dust.

I honestly can't believe there are retards willing to pay millions of dollars to live in houses smaller than the one I paid $200k for just so they can live in the shittiest state in the country lmfao

>>8488373
>dead people live
They sure do, pal.

>>8487146
For $3 million you can get a beautiful apartment in the nicest part of Manhattan. He'll, you don't even need to spend that much. Go further uptown and you can get one for like $1 million

>>8488526
We do so to be closer to high paying jerbs. Also the weather is remarkable.

>>8488645
Enjoy the Fukushima radiation slowly seeping into your brain and all of your food.

>>8487769
Yea I understand what you mean anon.

>buying an overpriced house in a warm climate when you can just buy a cheap house somewhere temperate and AirBNB there in the winter

Kek

>>8488683
It's pretty good stuff.

>>8485395
Maybe in certain cities, but I check Chicago listings every so often and there's some seriously undervalued stuff. 2 story brick duplex in a gentrifying neighborhood for $190k....

>>8486693
that toronto tier kinda price, fuck me ur market is equally fucked as ours eh..i'd say ours is about 20-30% worse tho. very rare to buy a house under 900k unless its a ghetto or over 2 hour out of the city

unironically 1.4 miles from my multimillion dollar shithole on park blvd. silicon valley is garbage. get out and go somewhere nicer and more affordable anon...

>>8489053
>toronto
>a ghetto
pick one

>>8485863
the mexican and black population is too close geographically. Victorville is one of the biggest shitholes in socal now

>>8485395
listen the term bubble is in a bubble

>>8488133
The property taxes in nh are murder. Its the only thing they tax so they make it count.

Just lol if you believe Bay Area real estate is in a bubble. Back in 2008 the peninsula market barely budged when shit hit the fan. It was only the outskirts East San Jose, Modesto, Tracy that got hit hard. I have lived here my entire life RE was always expensive here. This Bay Area market is underpriced if you ask me.

>>8485660
Niggers

>>8485395
Ask yourself this OP, how much of their income are people willing to pay toward rent?

It cannot go above 70% of their income. Incomes are simply not rising. Eventually, people will find more suitable places to live, such as Austin, or Memphis or some city with shittons of cheap land and plenty of jobs. They'll figure, they get more bang for their buck in these cities over the Bay Area. People can also live in trailers or mobile homes, and yes, this has been the case for over a hundred years, just look at how Hollywood was built, it use to be mostly trailer homes that people lived in until they got proper housing, in fact this was fairly common in low-housing, high-employment cities that sprung up in the depression.

Also ask yourself this: How much available land is out there, and how much is the population growing. The population of the United States grew 10% in the last 10 years, yet housing has more than doubled, or even quadrupled in some cities, yet even in extreme cases these cities have not doubled in population in a decade.

It's 100% a speculative bubble, plain and simple, 75%+ backed by pure DEBT from banks. You buy a house, you buy it with mostly debt. Most people are buying houses with less than 10% down. Some people are even buying houses using their other house as collateral. It's insanity. Yes, there are chink investors who buy some up with cash, but those are usually the foreclosures and fixerupers no one really wants.

Around 20%+ of housing is unoccupied right now, and the suckers who are buying at the peak are going to feel the pain soon enough when they "play" the speculative game of purchasing a house. It's ridiculous. Property is an ever-growing asset market. Sure, your property may be unique, that doesn't mean it's going to be x2 the cost of another property a mile away. We have TONS of land, TONS of housing, with limited renters and limited population growth.

>>8489953
Agreed, as much as I didn't want to believe it at first. After living here four years (Sunnyvale), I'm going to bite the bullet and buy a place.

Too many all-cash offers, too many people paying over 20% down. If there's an affordability crisis, why is there so much competition when I look to buy a house? Why aren't the high prices tempting current homeowners to sell? Because nobody wants to leave, and the people buying have the incomes to pay. In I go...

>>8488179
Same with pakistanis, spend all their money on their car which they use to pick up prostitutes. Shitskins are the same the world over.

>>8490314
Really? Where do you live? I haven't heard this stereotype. (Seriously.)

>>8485449
No, rapid population growth will keep it going forever

>>8488526
I hate traffic. I'd rather live in a tiny house and have no commute. Also save money on electric and gas in my little 900 sq ft hut

>>8490212
Big if true.

When do you think the market will crash anon?

>>8490811
Really depends on where you are.

I'd give it 4 years at most. The retards saying 10 years are absolutely insane. Uh, no, you can't have 10 years of uninterrupted housing price growth, that would mean people pay over 100% of their income toward housing. That's impossible. People are currently already paying over 50% of their income toward rent, or their mortgage. There is only so much people can take.

People also forget the SAL tax can't be deducted anymore on Federal Income tax. So the slum lords who own multiple houses now have higher taxes. They'll likely increase rent, but again, this brings us back to the question of how much are people willing to pay rent when incomes are stagnating. This also makes potential slum lords think twice before buying any property.

>>8490291
lol I've been here for 4 years as well and bought a house then... I feel exactly the opposite and am selling this summer. I wish you luck.

Everyone look at Florida on Zillow. It looks like every affluent person is trying to sell their house at once. The whole coastline is littered with red dots.

>>8485863
40 minutes? Yea fucking right. It's an hour at least, with no traffic. Rush hour pushes that yup to two.

>>8490577
There is no such thing as over population. Old people die and get replaced. Plus reproduction rates are flattening across the planet. Over population is myth.

>>8491007
I think you'll be pretty happy with the price your house fetches, and with how easy it is to sell.

>>8485395
Literally everything is a bubble. The only thing holding up our society is our belief in a bubble. Imagine what would happen if people realized that they’re a bunch of wageslaves working for some pieces of paper.

>>8491197
>overpopulation is a myth
Fuck no it’s not. India, China, and various other third world countries have more people than they can sustain. Africa as well. If people in a country are starving, that means that there are more people than the country’s resources can handle, aka overpopulation. What makes it worse is that western countries give out aid our accept refugees from these countries, basically interfering with nature’s way of combating overpopulation. If we cut off aid to third world countries most of the world’s population would die. It’s what we should do.

>>8487824
>New Hampshire
Don't they eviscerate their residents with property taxes?

>>8491385
kek, how many of those Pajeets are shilling shitcoins on this board right now?

>>8485449

>>8485449
Yeah, but did it sell?

>>8490291
Greater fool theory breh. This board is full of it.

>>8491464
>>8485395
>>8485449
How long until Pajeets start shilling shithouses?

>>8485742
Jesus fuck. Here in California $2mil would only buy you like a 5k sq ft house and less than an acre of land. My grandma sold her bummy ass 1k sq ft house in a bad neighborhood in the Bay Area for over $500k. It’s fucking ridiculous over here.

I get back at the chinks here by seducing their women and barebacking them until they get knocked up with a white baby, and all of the stds I have.

>>8491385
>if there's starving then no resources
Not true.
>India/China/Africa have an issue therefore everyone does
Sickeningly, large populations in destitute countries are the bread and wine of people like Bill Gates and other tech-industry "wealth generators" in the west, as well as western medicine. You can figure out why, I'm sure.

I agree with cutting aid, however.

>>8485395
>picking the most expensive neighborhood in the USA

instead of complainin about the price of house, buy a house and you will get the sick gains too

>>8491007
why are you selling?

>>8488373
>dead people live rent free.
>Implying graves aren't ridiculously expensive.

>>8492043
>Implying