“What had W done wrong?”, ponders the New Yorker. W is also mystified. “This is how I thought negotiating worked. I just thought there was no harm in asking.”
As Opie thoughtfully contemplates his potential annihilation by the dam-buster he casually leans against, let’s contemplate, contrast and compare Q2 2014 with Q2 2013 and see if Silicon Valley home prices have gone up this year. But you know they have. But have they gone up as much as they did Q2 2013? And are homes selling as quickly as they did at this time last year? In other words, is the market any easier on buyers?
A May 20 article in the Washington Post is the latest salvo in what’s either a fight for the heart, soul and luxury condos of America or just another manufactured crisis. “Foreign investors are making housing more expensive,” the Post asserts, then asks “Should we tax them for it?”.
“A gentleperson is generous without having to spend; s/he makes people work without making them groan; s/he has ambition but no rapacity; s/he has authority but no arrogance; s/he is stern but not fierce.”
Open houses aren’t as crowded as they were a month ago. You can find a parking space in downtown Palo Alto. My Facebook real estate page seems permanently stuck at twelve likes. Is this the end of Silicon Valley real estate? Or the beginning of summer vacation?
A fresh look at the best of the MLS.
You’ve been acting too strange
You don’t love me with soul
Well, there’s lots of other guys
Who’d love to play your role
One Monkey Don’t Stop No Show, Big Maybelle, 1955
Over the past few weeks we’ve looked at what I’ve called Silicon Valley “home price volatility” from 1994-2013 and 2000-2013. But I realize that what we’ve been looking at can be better described as “historical downside risk”: combined home price depreciation during the last two real estate busts. Volatility isn’t just depreciation–it also includes the “good” volatility, appreciation. But…