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I've been interviewing with some companies, and now I have to decide between JPMorgan Chase and Globant.
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Crystal ball is at the repair shop
I think Bay Area housing prices will never go down significantly unless something major geopolitical event happens. There are large number people who have been priced out of the market and are waiting to buy.
EY, you seem pretty sure of your opinion, so why ask the question in the first place? Austin’s hot, it’s true, but my cousin is a realtor there and said he has a number of clients who want to cash out and leave the state. And my 26-year old niece refused a job offer that would have paid her 25% more because it required moving to Austin from Oakland. It is not as black and white as you think.
Most Tech companies are WFH friendly, not remote friendly. You’ll start to see them force more and more workers back to the office at least 1x a week.
I’ve noticed fewer job descriptions offering fully remote status. This will cause prices to prop up as workers are forced back.
@author - It looks like you've really made up your mind on this subject and you're just here for affirmation.
Chief
With rising interest rates and a down stock market (a lot of tech workers have comp tied to stock), you’ll see a dip in buying. That being said, as some tech companies push their employees back into the office, you may see a new wave of buyers who have been saving aggressively for 2+ years who are motivated to capitalize on any small dip in the market, which would stall the dip.
Historically, Q4 is not the best quarter for real estate, so it’s not uncommon to see buying cool off in the late fall and early winter. Not many people want to move during the holidays. What will be interesting is what happens come January and February…
Chief
I’m not close enough to the Bay Area economy or real estate markets to have an educated position on the future. But I can lay out two “what-if’s”:
- if tech companies demand that employees come into the office frequently, that will keep demand high.
- if tech companies allow a majority of employees to work remotely full time, a lot of secondary or tertiary jobs will suffer, which will have a significant impact on the overall company. Think restaurants, hotels, transportation drivers, entertainment companies, etc. will all suffer, which could be catastrophic.
Chief
Austin is no where near SF real estate. First, Austin still has tons of surrounding land to be developed. Sure, the development needs time to catch up but the bay is full. There no more land to build. That said, agree that the peninsula relies on tech stock values to support home valuations. Prices in he bay could fall and still be way above Austin.
BTW, Austin is number two on a list I read today of cities expected to see their housing bubble burst.
Depends on which area in the bay area
Lol, Austin is getting hit very hard right now - just like the Bay Area. Same with Phoenix.
Do you have a SF Bay Area house? If not just go and buy the house in Austin that you want lol. I don’t want to be here, you clearly don’t want to be here, what does it matter?
Seems like OP has some Austin RE to sell and is keen on convincing us that we should be paying Bay Area prices for it… lol
I feel like you should stop responding. Seriously. Because as I’m reading down your comments are getting wackier