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Original post made
on Aug 16, 2012
housing prices are going to Mars followed by apartmental rental prices. Middle class is going to get screwed while the greedy vulture capitalists are fuelling such dramatic increases in everything in this area by marketing these phony useless companies like facebooks, zyngas,linked-ins,etc..People are willing to pay $2000 for a crappy apartment is really sickening and people willing to shell oput $500K for a 1BR/1BA is absurd. When will people realize that they are going to get screwed and will lose their shirts and pants down the road?
Only a fool would buy at these prices.
Jupiterk, why don't you just move somewhere else? You exhibit little understanding of either business or real estate. Its very expensive to live here. Not everyone can afford it. Welcome to "Life 101".
And the politicians salivated at the thought of more propery tax revenue. Thankfully, we with modest incomes have prop 13 to protect us from ridiculous spending plans that might almost seem reasonable to those more affluent.
Are you people so dispirited that all you can do is complain? Go and create something of value; become productive members of society. Society owes you nothing. Figure out what you want to contribute to society, and do it. You'll be much happier!
I'm proud and gladly defend the fact that people can not afford to own a home in the same city as where they work. Who in their right mind would want their maid to be their neighbor???
A massive correction is coming, and soon. Houses will be affordable once again, probably by next Spring. Anybody who buys now is going to get hosed by the market swing.
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