***Official Real Estate Thread***

[grapedrink]

Thanks. Real estate one of my biggest downfalls in knowledge department. Admittedly, I know a lot about architecture but jack sh!t about real estate. But always looking for next potential market swing.

I'm no expert either, although I do know a Disasturbationist when I see one. Eventually they are always right because they preach that the sky is falling for years until it finally happens. This guy has an App centered around figuring out if your market is oversold or not, which shows that he has a financial incentive to push this type of content.

Inventory relative to demand is still the primary driver of pricing. Think about the pockets of the California coast that are super desirable- you are talking handfuls of square miles at best in some counties. Then think about how many people want to buy in.

 

[StuAzole]

This true for California?

Which publicly held real-estate related companies would be hurting because of this?

https://twitter.com/i/web/status/1772295831116296337

Lol no.

homebuilder stocks are pumping bc they’ve got the only available inventory and can buy their rates down to make it even more attractive.

 

[CutnSnip]

This true for California?

Which publicly held real-estate related companies would be hurting because of this?

https://twitter.com/i/web/status/1772295831116296337

ive seen the teeeeeeny est bit of reductions in SOME areas but i think they just to get people to come look, then let the bidding begin. also with the rates - a tiny bit cheaper looks less scary of a monthly payment on paper at least but i dunno - im looking to buy something now and its not looking great out there.

 

[vanrysss]

 

[casa_mugrienta]

Does this video answer the question "Why am I told there's not enough rental housing in my city but there are a huge number of for rent signs in my neighborhood (many sit for months, sometimes 6 months +) and plenty of vacancies where other people I know live too?"

 

[vanrysss]

Does this video answer the question "Why am I told there's not enough rental housing in my city but there are a huge number of for rent signs in my neighborhood (many sit for months, sometimes 6 months +) and plenty of vacancies where other people I know live too?"

Could be pricing? How much are those rentals listed for? Or maybe you live in an undesirable area?
Afaik there's no housing or rental shortage in Arkansas.

 

[expotatonator]

idk about west coast but in nj there is a housing shortage cause - after getting creamed in 2008 - builders bailed
out of the industry lest it happen again...

 

[oneworlded]

ive seen the teeeeeeny est bit of reductions in SOME areas but i think they just to get people to come look, then let the bidding begin. also with the rates - a tiny bit cheaper looks less scary of a monthly payment on paper at least but i dunno - im looking to buy something now and its not looking great out there.

Seems to me that it surely depends on where you live. Some leveling off here in Charleston for sure, but it's gotten stupid expensive to buy a house here. We could never afford where we live now.

 

[silentbutdeadly]

so basically, the newer developments are so profitable that they can afford to have vacancies and don't need to cut rent prices as a result? Do I have that correct?

 

[ghost_of_lewis_samuels]

so basically, the newer developments are so profitable that they can afford to have vacancies and don't need to cut rent prices as a result? Do I have that correct?

no

 

[slipped_disc]

The note on approving building plans was nuts. In Santa Monica, they're claiming the average approval is 48 mos.

 

[ElOgro]

Seems to me that it surely depends on where you live. Some leveling off here in Charleston for sure, but it's gotten stupid expensive to buy a house here. We could never afford where we live now.

Look up the current market price of the places you lived in the Laguna down to San Clemente zone compared to when you lived there. How does that compare to Chucktown?

 

[sdsrfr]

in my antidotal observational experience, it's not so much a rental housing shortage but an affordable rental housing shortage in San Diego.

from the folks I know still renting, they're finding places to live and moving a small distance down the road when they need to. folks commuting from Otay were already in Otay, and still commute from Otay. Same goes for folks I know in Chula Vista areas and Pacific Beach.

traffic undeniably got worse and so those longer commutes are even longer than they used to be. That is the significant change that I noticed that affects the mood and relates to quality of life. If you need to get to La Jolla during rush hour, it doesn't matter if you live 2 exits or 10 exits away, these days it's going to take you an hour to get there.

 

[CutnSnip]

Does this video answer the question "Why am I told there's not enough rental housing in my city but there are a huge number of for rent signs in my neighborhood (many sit for months, sometimes 6 months +) and plenty of vacancies where other people I know live too?"

because not alot of people can afford 3k for a one bedroom thats only going to keep getting more expensive by at least 10 percent every year.

 

[CutnSnip]

so basically, the newer developments are so profitable that they can afford to have vacancies and don't need to cut rent prices as a result? Do I have that correct?

look at DTLA thousands of empty apartments. somehow the buildings stay afloat with over half vacancies.

 

[tedshred5]

in my antidotal observational experience, it's not so much a rental housing shortage but an affordable rental housing shortage in San Diego.

from the folks I know still renting, they're finding places to live and moving a small distance down the road when they need to. folks commuting from Otay were already in Otay, and still commute from Otay. Same goes for folks I know in Chula Vista areas and Pacific Beach.

traffic undeniably got worse and so those longer commutes are even longer than they used to be. That is the significant change that I noticed that affects the mood and relates to quality of life. If you need to get to La Jolla during rush hour, it doesn't matter if you live 2 exits or 10 exits away, these days it's going to take you an hour to get there.

I have a buddy in tech who recently got called back into the office after WFH for the past few years. It takes him about 45 mins to go 6 miles down the 805 from UTC to get home in the afternoon. He absolutely abhors it

 

[StuAzole]

Does this video answer the question "Why am I told there's not enough rental housing in my city but there are a huge number of for rent signs in my neighborhood (many sit for months, sometimes 6 months +) and plenty of vacancies where other people I know live too?"

vacancy rate in SD is 4.5%.

 

[silentbutdeadly]

I have a buddy in tech who recently got called back into the office after WFH for the past few years. It takes him about 45 mins to go 6 miles down the 805 from UTC to get home in the afternoon. He absolutely abhors it

Probably one of the reasons our areas have done so well

 

[StuAzole]

look at DTLA thousands of empty apartments. somehow the buildings stay afloat with over half vacancies.

How new are the buildings? The lease up period for a new building is a few years sometimes.

Is that one DTLA building that everyone is spray painting apartments?

 

[casa_mugrienta]

because not alot of people can afford 3k for a one bedroom thats only going to keep getting more expensive by at least 10 percent every year.

Then the landlord has to lower rent or they're losing money.

And they do lower them.

And they still don't rent.

This has been going on for the past 2 years...at the same time they're building more multilevel buildings, some 6 stories, in my neighborhood. And they don't rent either.

And they're the footings for even more of them.

All in a 1.5 sq mile area.

look at DTLA thousands of empty apartments. somehow the buildings stay afloat with over half vacancies.

Mission Valley the same.

I know coworkers that live there.They tell me their building have been half empty for years.

How does this work?

Across from Fashion Valley they've been putting up a new rental community for probably 2 years now. Massive feat, carving out a huge portion of a very steep hillside for a very small multilevel area. They're maybe half finished. Nonstop construction. I have no idea how they're gong to make any ROI.

 

[slipped_disc]

Does this video answer the question "Why am I told there's not enough rental housing in my city but there are a huge number of for rent signs in my neighborhood (many sit for months, sometimes 6 months +) and plenty of vacancies where other people I know live too?"

They don't directly. They do provide one example to show the difference in vacancy rates for various prices points. No surprise, the cheapest apts have very low vacancy rates. Gets higher as price goes up.