There are a whole lot of folks who would love to get away from the Bay Area if possible. The infrastructure is crap, the geography impedes growth and transit, the natives don't seem to like us, tax burden is high, real estate is expensive, and it's a major fault zone. I don't see how paying $1M+ for a 60 year old house makes sense, especially when there are still gang shootouts and high property crime.
If investors want to move into that market, they are nuts. I don't think you can extract any more money from residents than the current market is already doing. It's one more reason not to buy a house here - how much more do you think prices will rise? Will that $1.5M, 1400 sq ft house full of lead paint, asbestos and aluminum wiring go for $2M next year? Probably not.
If investors want to move into that market, they are nuts. I don't think you can extract any more money from residents than the current market is already doing. It's one more reason not to buy a house here - how much more do you think prices will rise? Will that $1.5M, 1400 sq ft house full of lead paint, asbestos and aluminum wiring go for $2M next year? Probably not.