Article

2023-05-30 -Great Cultural Revolution

The nine U.S cities where home owners are losing THOUSANDS on their house values: Median sale price in San Francisco drops a staggering $220,000 from a year ago

Posted by NoMoreBS 2023-05-30 00:00|| || Front Page|| [13 views ] Top
File under: Mob Rule

#1 Kinda like Budlight.

Posted by Skidmark 2023-05-30 01:27|| 2023-05-30 01:27|| Front Page Top

#2 "You gotta know when to hold em...."

Posted by Besoeker 2023-05-30 03:29|| 2023-05-30 03:29|| Front Page Top

#3 Crime is a contributor but Chicago and NYC are absent.

Posted by Super Hose 2023-05-30 05:37|| 2023-05-30 05:37|| Front Page Top

#4 Bubbles are bubbles, and when you have a Fed interest rate go from basically zero to 5% in a year, this should not be a shocker.

Posted by DooDahMan 2023-05-30 06:38|| 2023-05-30 06:38|| Front Page Top

#5 Their location appeal has become more selective.

Posted by Procopius2k 2023-05-30 06:56|| 2023-05-30 06:56|| Front Page Top

#6 Most of the areas listed have seen massive home price increases over the last 10-15 years as the areas became popular.

Some of the recent losses are certainly due to the decreases in area 'popularity' and current values might reflect what the properties would actually be worth in a more normal market setting.

Posted by Mullah Richard 2023-05-30 08:18|| 2023-05-30 08:18|| Front Page Top

#7 Whaaaaaa

You guys voted for this. Now fucking eat it.

Posted by DarthVader 2023-05-30 09:22|| 2023-05-30 09:22|| Front Page Top

#8 not all Blue areas

note that Boise and Salt Lake City (the Daily Mail mislabels them) are among the price drop metros

note also that Portland, OR not on the list

Posted by lord garth 2023-05-30 10:15|| 2023-05-30 10:15|| Front Page Top

#9 Tech hubs going down. What a shame.

Posted by Regular joe 2023-05-30 12:50|| 2023-05-30 12:50|| Front Page Top

#10 Remember in Robocop how they devalued the neighborhoods by allowing rampant crime so the city's elites and crony capitalists could purchase said properties at pennies on the dollar?

Reality is catching up with Science Fiction.

Posted by mossomo 2023-05-30 13:05|| 2023-05-30 13:05|| Front Page Top

#11 I live in the Boise area. What's going on is a shift in the mix of new houses being sold, from high end spec homes to tract developments. It's at least partly a knock-on effect of the downturn on the West Coast and other blue areas - fewer out-of-state buyers making cash offers.

Posted by Nero 2023-05-30 14:06|| 2023-05-30 14:06|| Front Page Top

#12 @mossomo: Somewhat related tactics were used in Chicago blockbusting. Garbage not picked up, etc.

Posted by James 2023-05-30 15:22|| https://idontknowbut.blogspot.com 2023-05-30 15:22|| Front Page Top