The nattering nabobs of negativism are at it again.
Breaking news! We’re in for another year of “accelerating home prices, expanding income and jobs, [and] new residents”.
The National Association of REALTORS chief economist, Lawrence Yun, predicts that new tax laws limiting deductions will cause home values in high-tax states such as California to drop, “potentially by up to 5 percent” according to CNBC.
The sprawling Bay Area mega-region took the top five spots nationally in real estate hotness in 2017, according to the National Association of REALTORS. It also nailed the 12th and 16th spots, for those of you keeping score at home.
Looks like pretty soon we’ll have to add Sacramento to the Bay Area housing market. Maybe we should now.
“In other parts of the country, it may be typical to see a slowdown in real estate exchanging hands leading up to the year-end holidays, but not in Northern California. “
It’s no surprise that the San Jose and San Francisco metros have changed greatly over the past ten years. Except perhaps to the people who spurred those changes: the people who’ve moved here within the past ten years.