Let me guess, you never lived through 2008?
A friend of a friend just sold his condo in a Bay Area at a loss. Prices have dropped from their highs.
A friend of a friend just sold his condo in a Bay Area at a loss. Prices have dropped from their highs.
Cause the transaction costs alone are about 10% on a home sale, so it's not something you want to treat like switching apartments every year when they jack up the rent 10%, even if the general rental market doesn't call for such an increase (they know most people won't want to deal with moving, deposits, etc).
Cause the transaction costs alone are about 10% on a home sale, so it's not something you want to treat like switching apartments every year when they jack up the rent 10%.
Condos took a big hit in SF during Covid. Starting to recover, but now with increasing interest rates, it may be a while.