Qualcomm always added about 2,000 buyers year. What happens if you lose those 2000 buyers and instead have 2,000 sellers? You've lost 2000 buyers of the new houses being built plus you have 2000 old buyers selling. There is no other semiconductor job in San Diego. You have to move. It wouldn't surprise me if prices drop 20% in two years. But who knows? Also the people working at Qualcomm will be less likely to buy even if they don't get laid off.
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Anonymous121585 - you're on crack if you think QC employees are the only ones that can afford housing in SD. or you live in a bubble created by your own imagination.
WHo will buy in San Diego? Soldiers? People working in Breweries? Waitresses? Don't think anybody but
QCOM'ers can afford the payment as interest rates rise from 3.5% to 5% next year on a $1M house ($80K per
year in payments,insurance,mello roos, taxes). Buy now if you think it is
a good deal, but you will probably buy 20% cheaper to wait 2 years. Are you SURE this is the last layoff???
Will other outside support have layoffs too (restaurants around Q, suppliers of lab equipment and services)?
Silicon Valley (google, apple, facebook, linkedin) is expected to hire over 100K people next year.
Do you thing investors will chase Silicon Valley or buy San Diego?
yes, housing market will crash soon. if you get notified email me and I will buy your house for 80% of it's appraisal value today. Better take my deal, if you want too long, housing prices will go down even further and you will never find a buyer. do yourself a favor and get out as soon as you can and take my offer. it's the best you can hope for.
Renters are disgusting
Sore renter
Anonymous121428, you aren't an investor. You are a minimum wage worker that still rents that doesn't understand the real estate market. You obviously didn't buy in 2008...
Investor here. It is inevitable. I'd say 10% drop over a year, and 20-30% increase over next 10. I'm looking at a nice little profit.
Prices drop by 10% due to rising interest rates plus 10% due to bad worsening outlook. Classic bubble burst. 2250 is 15% *15000
Prices drop by 10% due to rising interest rates plus 10% due to bad worsening outlook. Classic bubble burst. 2250 is 15% *15000
Prices drop by 10% due to rising interest rates plus 10% due to bad worsening outlook. Classic bubble burst. 2250 is 15% *15000
Well you assume that all the people to be laid off own a house and also all of them sell? Plus Qualcomm hiring has been almost frozen for about two years and I assume the lack of 2000 buyers you said should have already decreased home prices by 10%, sorry but it has been the opposite.
Let me help you for the obviously mentally challenged... 10% of something is taking the decimal point and moving it to the left by one position. 5% is half of that....15% is adding the two together... Obviously, the new Common Core Math in CA didn't help you learn shit.
15% of 13,000 is 500 people? Lol. Someone sure sucks at math....I don't think with math like that, you would be in the market to be owning a home...You know, those pesky things called "numbers"....
Even if that were true, you still would be shut out of the housing market. Otherwise, you would have already bought in 2008-2010. But you still rent!
13000 QC folks work in San Diego, let's say 15% cut is applied, you are looking at 500 layoffs