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Comment by cyanbane | Hacker News Reader

Some very solid points about the market in general, but I wonder how several of these points (particularly the points about oversupply, baby boomers, etc.) apply to places like SF or Manhattan.

I was just coming to say the same thing. Solid advice, but housing has such metro-geographical differences, 40% of this doesn't line up with my area (Atlanta).

Edit: Had 60% went back and modified to 40% after reading again.

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jhonnathanson's point about SF or Manhattan is very clear. But what is special about Atlanta? Sorry, If I am ignorant, I have never been there.

There was a flood of people out of Atlanta and into the surrounding counties in two waves during the late '90s and early 2000s. The flood was driven by prices going higher. After the market collapse, there are plenty of empty suburbs going to literal rent-seeking speculators at rock-bottom prices. Something similar could happen in SV if the market cools.

Source: Barrow County resident who would have preferred Gwinnett.

I'm in the Atlanta area and purchased a home (out in the burbs ) over the last year. Price there fell significantly (up to 50%) during the last 5 years and have finally started to rise. Supply is much lower than it was even a year ago too.

I think there are a lot of generalizations in the article that people have been preaching for a few years now. If you sit on the sidelines and worry about of the potential problems, you're never going to purchase.

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