April 24, 2010

Top 29 Cities to live in for men – San Francisco beats New York in cost of living!

Top 29 Cities to live in

1: New York City

image

image

10: San Francisco

image

image

I think this is a case of good news/bad news. The good news is that San Francisco scored 9.2/10 for cost of living, while our mortal enemy New York scored a mere 8.9/10. WOOHOO!

That said, it’s clear the methodology of this report was wrong. They should’ve been comparing Silicon Valley!

Comments (76) -- Posted by: burbed @ 5:57 am

76 Responses to “Top 29 Cities to live in for men – San Francisco beats New York in cost of living!”

  1. maryjane Says:

    You would compare SF to NY but Silicon Valley would have to be compared to Long Island and no one wants that.

  2. Real Estater Says:

    The Spring Real Estate issue from Palo Alto weekly is out. Lots of interesting information on the RBA market.

    Below is the link (without http:// to bypass the Burbed filter):
    paloaltoonline.com/news/show_story.php?id=16493

  3. Real Estater Says:

    Some excerpts for those who don’t have time to read the whole thing:

    1) Inventory in early spring is running low
    2) Competition is heating up

    Palo Alto Coldwell Banker agent Gwen Luce reported 18 offers — and at least 10 other serious buyers who were “reluctant to participate in multiple offers” — a few days after an open house for a Green Acres (Palo Alto) home.

    “Our accepted buyer offered all cash, with no contingencies, and a two-day close, 14 percent over the $1,198,000 asking price.

    This year there were 20 offers for a $700,000-ish home that went for close to a million dollars. Another was listed at $985,000 and sold for 12 percent more, she said.

    …Palo Alto’s entry-level ($1 million to $1.3 million) market was really hot. Recently he had seen more than 20 offers on a Barron Park property.

    He attributed it to parents who want to register their children for Palo Alto elementary schools. “The later you register, the less chance of getting the first choice of schools,” he said.

    “We love Palo Alto, but there’s no elasticity in the prices,” he said, noting that he’d like to keep his daughter in Palo Alto schools.

    “The level between $700,000 and $900,000 is cutthroat.

    Finding a house is hard in Palo Alto. The competition gets tougher for houses under $1 million dollars, and even tougher if a family wants to fit into that house. While other cities in the nation may be flailing, Palo Alto’s housing market is pushing entry-level buyers out.

    “Palo Alto is the worst market in the world to buy something under a million dollars,” Nancy Carlson, a Realtor at Intero Real Estate Services in Los Altos, said. Based on information from MLS Listings Inc., she said, 19 percent of single-family homes in Palo Alto were listed for under a million in 2010, but only 5 percent sold for under a million.

  4. Real Estater Says:

    Some more excerpts:

    A standard entry-level house in Palo Alto — three-bedroom, two-bath, on a 5,000-square-foot lot — is around a million dollars, and even at that price they are oftentimes fixer-uppers, Carlson said. Houses priced around $800,000 in Palo Alto usually have one or two bedrooms and just one bath, are fixer-uppers, and on a street with lots of traffic. Additionally, they are usually cottage-sized lots.

    The strong job market, a good community, a location in the Bay Area and top-rated schools have kept Palo Alto home prices at a premium, she said.

    “No. 1, buyer perception and the fact that the market has certainly stabilized and will go up; No. 2, interest rates are real low and those are not going to go lower; and No. 3, inventory is not high right now. Put those three together, that is what is driving the market right now,” Foy said.

  5. Lionel Says:

    I assume Palo Alto Weekly is fine, unbiased newspaper. Per usual, thanks for the morning laugh, RE.

  6. anon Says:

    No doubt. Fair and Balanced like fox news.

  7. Real Estater Says:

    I can tell you that if you actually shop this market, you’ll have no doubt the above quotes are 100% reflective of the actual situation.

  8. SEA Says:

    I’m sure when the buyers today go to sell, the standard annual appreciation of 7.2% will be realized. Borrow at 5% and earn a guaranteed 7.2%. Life is great in the RBA!

  9. SV Shopper Says:

    I’ve run into those market conditions. There’s very little inventory out there; anything good is hotly contested. Good school districts are where the prized homes are at. I think we are back to the old boom days again.

  10. SanMatean Says:

    If the smell of diesel exhaust blended with sewer gas isn’t a 10/10, I don’t know what is! Mmmm. Love that NYC air…

  11. anon Says:

    Indeed, SV “real estater” shopper. The kool-aid intoxicated are out buying homes once again. When they figure out that the government has set them up to take the losses instead of the banks, I’m sure they will continue to pay their mortgages.

  12. SV Shopper Says:

    I represent myself only (but I see you hiding behind an anonymous handle). Anyways, what has your market experience been like lately? Where do I find the inventory and low prices? Remember, my wife wants only good school districts.

  13. anon Says:

    For someone like you? Maybe Antioch or Hemet. Not sure on the schools there. Maybe you should go do some “one the ground” research to get the “pulse of the market.”

    You need good schools and reasonable prices with lots of inventory? Well, you just can’t have that. Sorry. It’s out of your reach. You know – “priced out forever.” Too many strawberry pickers have taken out too many loans and everyone is flush with cash.

  14. doomedtorent Says:

    All I want is four bedrooms all on one level, good schools, grassy backyard, quiet area but I won’t go over $1million. I’ll only consider Woodside. Am I going to have to lower my sights to Palo Alto?

  15. Real Estater Says:

    Lessons for RBA:

    1. Buy into any market weakness – don’t wait for prices to go lower, because it won’t.
    2. Have faith in history – Price doubles every 10 years on the average.
    3. Having a small piece of something is better than not having anything at all.
    4. When buying Palo Alto – Having a small house is OK. Being near the freeway is OK. House needing work is OK (and often preferred).
    5. Get out of your comfort zone – Pay a little more than what you can comfortably afford to get ahead of the competition.
    6. Overbidding is common, because everyone knows now is a good time to buy a house.

  16. Real Estater Says:

    I think #13 and #14 are out of order.

  17. anon Says:

    God you’re an idiot.

    re: #16: No. They aren’t. 13 was direct to your alter-ego ‘sv shopper’

  18. Alex Says:

    SV Shopper,

    If your wife is a hot redhead, she doesn’t need good schools. I can teach her a thing or two.

  19. SEA Says:

    “3. Having a small piece of something is better than not having anything at all.”

    NPR purchased “Toxie,” a small part of a toxic asset:

    http://www.npr.com/toxic

    The too figured having a small piece of something is better than not having anything at all. We shall see if it pays off–of course it has already: entertainment value. $1,000 is cheap entertainment. $1M home? Not so much entertainment when prices go down.

  20. anon Says:

    Not much entertainment for the buyer, that is…

  21. Pralay Says:

    Anyways, what has your market experience been like lately? Where do I find the inventory and low prices? Remember, my wife wants only good school districts.
    —–

    Real Estater does not feel secure because he does not have second house for income which he is looking for more than two years. And SV Shopper’s wife does not feel secure because her husband can’t find a house in good school district which her husband is looking for one year.
    Looks like neither of them have any hope. So, SV Shopper’s wife move in to Real Estater’s home. That way SV Shopper’s wife gets good school district and Real Estater gets second income. Both will feel secure enough.

    And SV Shopper? It’s time for him to move back to NYC after four years of renting in bay area. At least dating scene in NYC is as good as SF, according to Burbed’s feature topic today.

  22. Insecure Techie Says:

    The Spring Real Estate issue from Palo Alto weekly is out. Lots of interesting information on the RBA market.
    —–

    Yes, lots of interesting information – just like 2008 fall. When school drop out real estate agents from Coldwell Banker and Intero get opportunity to talk, that makes definitely interesting.

  23. Insecure Techie Says:

    Being near the freeway is OK.
    —-

    We know that. What is not OK is being near Expressway.

  24. Insecure Techie Says:

    because everyone knows now is a good time to buy a house.
    —-

    Now? I thought it’s ALWAYS good time to buy.

  25. Real Estater Says:

    >>What is not OK is being near Expressway.

    What is not OK is being in front of Expressway.

  26. Real Estater Says:

    >>When school drop out real estate agents from Coldwell Banker and Intero get opportunity to talk

    As opposed to zero value guy who was wrong all along?

  27. Real Estater Says:

    >>SV Shopper’s wife move in to Real Estater’s home.

    maybe you should share a wife with your brother?

    edition.cnn.com/2008/WORLD/asiapcf/10/24/polygamy.investigation/index.html

  28. Insecure Techie Says:

    Oops, I forgot to provide the link to Insecure Techie’s post. Did you guys notice that Real Estater removed the avatar for that post? Too late! He should have done before groomer found it. :)

  29. Insecure Techie Says:

    As opposed to zero value guy who was wrong all along?
    —-

    If my comments annoy you that’s a pretty good value addition in my opinion. :)

  30. Insecure Techie Says:

    What is not OK is being in front of Expressway.
    —–

    Wait a minute! I must have given link to wrong comment. There is a difference between near and in front of. So I am giving the right link here.

    My position is that homes located near big streets, freeways and railways are undesirable, and shouldn’t be bought at any price.

  31. Real Estater Says:

    >>There is a difference between near and in front of.

    Of course. Actually it’s the difference between “near” and “right in front of”.

  32. Real Estater Says:

    >>Oops, I forgot to provide the link to Insecure Techie’s post. Did you guys notice that Real Estater removed the avatar for that post?

    I still see your avatar, Insecure Techie. It looks like the flat screen TV renters throw away every month.

  33. Real Estater Says:

    >>SV Shopper’s wife move in to Real Estater’s home.

    Have you considered moving in with your brother :-) ?

  34. Real Estater Says:

    >> Actually it’s the difference between “near” and “right in front of”.

    To elaborate, I wouldn’t mind living near a school, but I wouldn’t care to live right in front of one.

  35. Real Estater Says:

    Arranged marriages is not the only Indian tradition:

    http://www.youtube.com/watch?v=IJsaZp3fWM4

  36. Insecure Techie Says:

    Have you considered moving in with your brother :-) ?
    —-

    Never. However, I like your analogy that SV Shopper’s wife is your brother. I didn’t realize that he is gay.

  37. Insecure Techie Says:

    I still see your avatar, Insecure Techie. It looks like the flat screen TV renters throw away every month.
    —-

    I hope you can read what’s on screen too. Although there is no problem if you can’t read. You always can blame public school for that.

  38. SEA Says:

    Real Estater- “I still see your avatar, Insecure Techie. It looks like the flat screen TV renters throw away every month.”

    I’d rather rent and toss out a flat screen TV rather than own and toss away an Escalade every month.

  39. A. Lewis Says:

    Wow, this is a very hot post, Burbed. Good one.

    First thing: the NYC vs. SF (vs. the rest of the country) surveys/polls are so stupid, and flawed, I don’t know where to start. How about stating the average annual temperature, as if people could use that one number to glean a lot of meaning. SF is 57, NYC is 55. So we have pretty close weather, I assume? That is god-awful stupid.

    For cost of living, the cost of an 8GB iPod Nano? That is the stupidest thing I ever heard. 1st, Apple Store prices are constant in the U.S., and 2nd, Amazon (and most other retailers) prices are also constant on iPod Nanos, and most other Apple products. The price of a gallon of milk, or gas, or the rent on a 2BD apartment would have been nice things to compare, but they require actual research!!! The iPod and Nissan prices were found with a web search, and are meaningless.

    The Night on the Town/Day of the Town scores are so void of useful information it’s stupefying. Do you know how few people in NYC are interested in going to clubs that feature celebrities as regular patrons? That’s a VERY niche thing, not how you judge a city…and they obviously don’t know crap about what’s available in SF to do during the day.

    But anyways, it’s really a funny comparison, and an indictment of the survey source, not anything meaningful on SF or NYC. Neither one of which is just one thing – they are both large, complex metro areas with a huge range of experiences and lifestyles available.

    P.S. We kick NYC’s ass. And I have family there…

  40. A. Lewis Says:

    2nd, the annoying posts #3 and #4 from Real Estater. Who doesn’t add much besides a long real estate ad from interested parties in Palo Alto, quoted verbatim.

    Hint: if you’re just going to quote the whole thing and not add other stuff, you don’t need the italics. Also, you could just post a link, which if we’re interested, we’ll click on, and then you can try to make insightful comments on the best parts. If it’s all a best part, just send a link.

    I know you deny it, RE, but posting like that makes you look very much like a Palo Alto real estate agent. That you are one is a conclusion entirely consistent with your entire history here on Burbed. Your comments and advice, if followed by the masses, would cause higher PA prices, and more PA sales, which is the lifeblood of PA real estate agents. That’s just a comment. No need to respond.

    But I’m just complaining about RE, which is boring, and done all too often on this blog – what I really wanted to say (so thanks for posting, RE) was I did find this part of the article VERY useful, it’s the reasons given for Palo Alto home prices being at a premium:

    “No. 1, buyer perception and the fact that the market has certainly stabilized and will go up; No. 2, interest rates are real low and those are not going to go lower; and No. 3, inventory is not high right now. Put those three together, that is what is driving the market right now,” Foy said.

    Just read those and think about it for a minute. Those are 3 (actually 4) very good reasons that Palo Alto prices are at their peak, and will likely go down.

    #1: Buyer perception. This means the general sense of what PA is worth. The intangibles. The personal/in your gut definition of “Location”. It’s not a hard metric, not something like views, or beach access, or very large square footage – it’s just perception. Which means that if it’s super-high now, it could very easily change – for the worse. This says that PA prices are built on, and depend on, the perception of PA, not the fundamentals of PA. So beware – b/c if people turn on PA, that can crush the prices, despite it’s solid fundamentals.

    #1B: “…the fact that the market has certainly stabilized and will go up”. Read that again. Can you believe that? It’s a fact that the market has certainly stabilized? Why do you need the word certainly then? It’s also a fact that the market will go up? That’s AMAZING!!! And a load of crap. This is a statement that Real Estate can only go up forever. Hello – we just had a declining Real Estate market. In fact, it’s still declining in many places. Right after an amazing run-up in prices, where many people declared it couldn’t ever go down. Just before it experience the biggest drop in living memory. And all those shills were made to look stupid. And lots of people lost lots of money. Should we listen to these people again? The ones who make 6% off each sale? Hmmm…

    Oh wait, maybe I’m being mean. The “…” part is b/c the sentence starts with “buyer perception and,..”. Maybe they meant it is just buyer perception that it’s a “fact” that prices have stabilized and will go up. Oh, I see. Well, this ties into the last point – that if that perception is what’s driving prices, instead of fundamentals, then watch out. If people change their minds on this perception (like they just did in the last 2 years), than prices can be crushed. In fact, they can be crushed BELOW their fundamentals, and a buyer now could get screwed really bad. Terrible time to buy when perceptions are like this. You know – like during 04-07. Exactly like that.

    #2: Interest rates are low and can’t go lower. OK, right – people can borrow more at low rates, and afford more house, so sellers can inflate their home price when selling to the same relative income buyer. This is a small effect, but valid. Is this an inducement to buy? Not so much – if/when interest rates rise (and they “can’t go lower”), that should drop prices. Well, that doesn’t sound good as a new owner. Maybe I should wait for that. And then buy at lower prices, and refinance during a future low interest rate period. In fact – many wise homeowners did just that. I’m generally neutral on interest rates (within some reasonable range) – you should judge much more on the price than the monthly payment. But this again suggests the component of the PA premium driven up by interest rates is at max, and can only come down. Oops.

    Finally, #3: “inventory is not high right now.” OK, low supply of a commodity generally raises prices, assuming the same demand. That’s fine. But again, that says that when inventory rises, prices should drop. Inventory has much more potential to go UP in PA than down, b/c it’s so low now. That’s a bad time to buy. That’s a seller’s market. So the inventory component of the prices is also at max.

    My conclusion? Same as the article: “Put those three together, that is what is driving the market right now,” Foy said. Right, and it has a huge downside potential.

    Imagine a market that had nice homes, you liked the location, and it had good schools. The prices were pretty high, so you’re wavering. Then you heard that 1) perception of prices was low right now, and an expectation they’d go lower (for no special reason other than a national downturn in housing prices), 2) interest rates were high, and seemed they couldn’t go any higher, 3) inventory was high. Those 3 things would tell you that prices were probably as low as they were going to get (despite seeming high already), and choices as high as they’re going to get. So if you really liked this neighborhood, buy now, and refinance later.

    If you care about the price you are paying for the home in PA, this is the worst time to buy. If money is no object to you, you may be frustrated at how little supply you have to choose from.

    I don’t need different data to come to a different conclusion, I just don’t have my income depend on the commissions from other people selling houses to each other. So I won’t give you bad advice like interested parties will.

    Heh. In your face, PA Realtors.

  41. A. Lewis Says:

    Apologies, I failed to proofread my giganto-post, and among other mistakes punctuated an its into an it’s. Which I hate. So sorry ’bout that.

  42. DreamT Says:

    Wow, A., do you mean to say that even yourself find your own posts too long to read? I’m stunned!

  43. A. Lewis Says:

    Also, I wanted to give one other important piece of advice to prospective buyers, to counter RE’s advice in #15 (which has so much stuff to take apart…but I don’t want to bore you further). Just this one thing:

    “5. Get out of your comfort zone – Pay a little more than what you can comfortably afford to get ahead of the competition.”

    Do NOT pay more than you can comfortably afford. If you are rich, and want to speculate in Real Estate, with money you can afford to lose, go ahead. You might make money, you might not, but by all means – this is America.

    If you are not so rich, do NOT pay more than you can comfortably afford on a house. Have a 20% down payment. Get a fixed rate loan. Have enough emergency cash after all closing costs for 6-12 months living expenses. Not more than about 35% of your income for PITI. Take into account cash reserves for any work the home needs. Buy earthquake insurance. Keep in mind the horrible job market right now, and what it would mean if you lost your job, and how quickly you think you could replace your income.

    If you stretch, and prices drop or you lose your job, and you can’t sell, you could lose it all, go bankrupt, and really badly hurt yourself and your family. These stories are very sad, and very common in America. Don’t let it happen to you.

    If you care about your family’s money, don’t stretch to buy a house. Use sensible guidelines like my above, and you and your family can sleep well at night, and be able to weather even a strong downturn, job loss, or other event, and still have your finances intact (though impacted, of course). There are SO many families in the Bay Area living month-to-month underwater, massive mortgage over their heads – very unhappy. Don’t be one of them.

  44. A. Lewis Says:

    #40 – no, I mean I’m lazy! I enjoyed re-reading it, but was too lazy to re-read before I posted. And b/c I don’t like scrolling in this TINY text entry box – that’s why I wish there was preview mode.

  45. Real Estater Says:

    Wow, another long rant by A, and he starts off by calling my post a “long” ad. That’s like a horse accusing another of having a long face.

    The problem we have here is that someone from outside the area trying to comment on something he doesn’t understand. It’s like a guy who just landed here from Tennessee, wondering why a place like Alameda is so expensive. While that may be an extreme example, even if you take a buyers from another part of California, chances are they cannot accept having to pay over asking for a house, until they have lived here for a while and got out-bid a few times.

    Part of the values of internet is for people of different background to get together and expand each others’ horizons. This is particularly true for real estate, because real estate is always local. Instead, what we get here is narrow-minded thinking; “there can’t possibly be a market like that, because it’s not that way in my area”.

  46. DreamT Says:

    Let’s not forget that before becoming hoarse, I mean a horse, A. was Spreadsheet Wheezard. So he knows what he’s talking about.

  47. A. Lewis Says:

    #43 – the problem with your post wasn’t the ‘long’ part, it was the ‘ad’ part. Long ads are annoying. Long posts full of juicy insight (like mine) are awesome.

    Post #43 addressed none of the points I made at all – which just proves how right I am. It attempted to attack my character and just claim (without proof) that I knew nothing about the area. My statements apply generally, to the RBA and other areas. I understand that confuses RE, who by definition, believes that in the RBA, prices double every 10 years no matter what. We get it RE! That’s what you believe! You’re just very very wrong!

  48. Real Estater Says:

    Let me address a few points on Palo Alto. The disclaimer is that I’m merely speaking from observation of my local community, and have no vested interest in real estate.

    Almost perpetually, the perception (as well as the reality) of PA is that of a competitive market. The inventory has always been low compared to the demand. In fact “buyable inventory” has always been extremely low. The record also shows that with few exceptions prices always go up in PA.

    Can the perception change and prices crumble? Well, can Stanford one day become an unattractive school to applicants? I suppose so, but highly unlikely. Why so? Because as more smart/successful/wealthy people buy into a community, it builds up a momentum attracting even more such people. Over time, the price sits on a solid foundation because it is supported by the demographics, which is a major contributor to the quality of the local schools.

    To conclude, I’ll just say that prices always seem high “now”. Your intuition tells you now is the worst time to buy. If you keep that thought you will probably never be able to buy a house.

  49. nomadic Says:

    New definition of RBA – principles of economics do not apply here because it’s special.

  50. maryjane Says:

    #41 is the best advice I’ve seen lately. Hasn’t the whole mortgage mess been caused by people getting out of their comfort zones? People really wanted to buy a house even if it meant commuting 3 hours a day and renting out the garage. They knew that real estate was only going to go up so they figured they’d stretch for a few years and get in when they thought they had a chance. ‘Get out of your comfort zone’ is more than idiotic. The whole country is paying for people who didn’t have the sense to stay in their comfort zones.

  51. A. Lewis Says:

    Some notes: if the starting price is below what I value the house at, I’d be happy to pay over-asking.

    RE and others want you to believe that if you didn’t have to pay more than you could afford, and more than what the house was worth, you must have bought a crappy house. That’s not true. But it is true that multiple offers coming in over asking is always good for real estate agents – it helps them make more money.

    Here’s a question: two real estate agents, one in Palo Alto, the other in some nice neighborhood where prices are a third as high as Palo Alto. Similar inventory levels, similar buyer traffic, similar sized homes. Both agents spend the same amount of time and effort selling a home for a client. Both collect a 3% fee. The PA home cost $1.2M, and the agent got paid $36,000. The ‘other’ home only cost $400k, and the agent only got paid $12,000. Question is, why does the ‘other’ agent stand for this great injustice???!?!

  52. DreamT Says:

    #49 – probably because there is much less inventory selling at any given time at higher price ranges, so less sale volume especially for agents not established in these markets, i.e. each sale is much higher stake. Also the agent must gain credibility with the multi-million dollar crowd (most agents cannot do that). The kind of questions a $4M house agent will get are much more sophisticated than the ones the $400k house would.
    These are just guesses by the way.

  53. DreamT Says:

    Similarly you can find two software engineers, same age, same title, same company, working with the same tools and same programming language on the same codebase, yet one is paid $65k and the other $130k. You could qualify this a great injustice, others will simply tell you this is the labor market at work.

  54. Gallileo Says:

    Prices can and do fall in Shallow Alto.

    For example, two homes in Palo Alto’s South Gate neighborhood sold in both 2006 and 2010 (one on Sequoia and one on Mariposa) Both sold for about 12 percent less than their 2006 price.

    Another Southgate house (101 Miramonte) listed at 200K above its 2006 price. It sat for a month, then got a 100K reduction (still 100K above 2006 price), and still sits.

    I’m sure there are other examples, but that’s just what I see from my vantage point here in the Palo Alto slums.

  55. bob Says:

    The problem we have here is that someone from outside the area trying to comment on something he doesn’t understand. It’s like a guy who just landed here from Tennessee, wondering why a place like Alameda is so expensive. While that may be an extreme example, even if you take a buyers from another part of California, chances are they cannot accept having to pay over asking for a house, until they have lived here for a while and got out-bid a few times.

    That’s about the dumbest thing I’ve read in awhile RE. No- the point being is that you misunderstood me. What you said above basically justified my previous comment in that native Californians and others from equally expensive metros who’ve never lived anywhere else are in a ways wrapped in a cocoon of financial stupidity when it comes to placing value on real estate. Perhaps that’s harsh criticism but to boil it down to its essence, they are ignorant.

    But thanks for reaffirming my observation.

  56. anon Says:

    RE’s ignorance also stems from the fact that he’s new to palo alto. He’ll eventually learn…

  57. Real Estater Says:

    Bob,

    I never denied that home prices elsewhere are cheap. It is you who fail to recognize that real estate prices are local.

    I suspect majority of Tennessee residents don’t have the to come here, but Californians certainly have the option to swap places with them. Yet, they’d rather not pay less to live elsewhere.

  58. Real Estater Says:

    Bob,

    A related subject was brought up here.

  59. SEA Says:

    “chances are they cannot accept having to pay over asking for a house, until they have lived here for a while and got out-bid a few times.”

    The only time there is any buyer bidding is when the asking price is too low. If a high enough asking price is set, then there is no bidding war.

  60. nomadic Says:

    DreamT, I don’t think your engineer example directly correlates to the realtor disparity. The engineers presumably have a different value add for a company.

    I don’t think the realtor’s “value add” would be significantly (3x) different from a $400k house to a $1.2M house. The $400k first time buyer is higher maintenance than a $1.2M move-up buyer. Now a $4M selling agent will have additional challenges, as well as potentially high advertising expenses, but now we’re talking 10x the $400k house.

  61. SEA Says:

    nomadic- “New definition of RBA – principles of economics do not apply here because it’s special.”

    Is this new? What’s the old definition?

  62. nomadic Says:

    There are many “old” definitions of the RBA, from where professionals choose to live
    where prices double every 10 years, where foreclosures are rare, and where prices never go down.

    But by far, the very best definition was contributed by Prof. Bleen:

    http://www.burbed.com/2008/10/19/prices-sales-of-bay-area-high-end-homes-may-fall-next-year-realtor-group-predicts/#comment-29086

  63. SEA Says:

    nomadic- After discussing advanced set theory, which we all know Real Estater knows quite well, Prof. Bleen suggested, “In the heady early-bubble days, the RBA may have extended as far north as Seattle.” Not simple Venn diagrams.

    It must be very difficult to be Real Estater.

  64. Insecure Techie Says:

    It must be very difficult to be Real Estater.
    ——

    True indeed! Especially someone who had to travel with crying Austin man.

  65. Insecure techie Says:

    The disclaimer is that I’m merely speaking from observation of my local community, and have no vested interest in real estate.
    —–

    Of course, an used car salesman has no vested interest in car business either.

    And what is the name of used car salesman? Real Estater Used Car Salesman!

  66. Real Estater Says:

    Pralay / aka Insecure Techie,

    I think a flat screen TV salesman can help you a lot more than a used car salesman.

  67. Insecure techie Says:

    And just like Real Estater has no vested interest in real estate, TV salesman has no vested interested in TV business either. :)

  68. SEA Says:

    Who can help the least?

    1. Used car salesman
    2. Flat screen TV salesman
    3. Real Estater

  69. bob Says:

    I suspect majority of Tennessee residents don’t have the to come here, but Californians certainly have the option to swap places with them. Yet, they’d rather not pay less to live elsewhere.

    I’m not sure what you meant by ” Don’t have the to come here…” or- ” Yet they’d rather not pay less to live elsewhere” either.

    Translating that back I assume you meant that:

    1. Most Tennesseans choose not to move to California. Correct. For good reason.

    2. Californians could choose to move to TN but they would rather not pay less to live there. Huh? Do you mean that even though its a lot cheaper they don’t choose to move there?

    Well, as I’ve mentioned a few times there are now 10 new students at the school my mom teaches at who are all from California. 3 or 4 are from the Bay Area. So obviously a lot of Californians are doing exactly that along with moving to Austin, Portland, Atlanta, and so on. In an article I posted a week ago it mentioned that 94% of all current domestic migration is heading to the Southeast. In other words that’s where the growth is happening.

    You need to pay a little more attention to what’s going on out there.

  70. nomadic Says:

    Have you forgotten that nothing that happens in “flyover land” has the least bit of interest to our resident troll?

  71. Real Estater Says:

    Bob,

    You have trouble filling in the blank, even after I gave you a link as a hint?

    Here’s how that sentence is supposed to read:

    I suspect majority of Tennessee residents don’t have the option to come here, but Californians certainly have the option to swap places with them.

  72. SEA Says:

    Real Estater- “I suspect majority of Tennessee residents don’t have the option to come here, but Californians certainly have the option to swap places with them.”

    I suppose the next thing you are going to suggest is all Californians graduated from Stanford and earn at least 100,000 per month.

  73. Real Estater Says:

    >>I suppose the next thing you are going to suggest is all Californians graduated from Stanford and earn at least 100,000 per month.

    No, unfortunately at least 10 of them ended up at Bob’s mom’s neighborhood.

  74. Real Estater Says:

    >>I suppose the next thing you are going to suggest is all Californians graduated from Stanford and earn at least 100,000 per month.

    No, at least 10 families ended up in Bob’s mom’s neighborhood.

  75. SEA Says:

    Am I supposed to laugh or cry?

  76. madhaus Says:

    I cannot believe that nobody here, especially our leerless feeder, didn’t call RE out on that obvious copyright violation in posts 3 and 4. Perhaps our “average tech guy” is incapable of using that valuable tool known as google.

    Well, RE, if you ever do learn how to use it, look up “fair use.” For bonus points, explain why posts 3 and 4 violate it.


Leave a Reply

Please be nice. No name calling, no personal attacks, no racist stuff, no baiting, etc. Let's be nice to each other in the true Bay Area spirit! (Comments may be edited/removed without notice.)