Re: Unbelievable Multiple offers on homes.

Susan in California · ‎06-02-2014

@patbz

I appreciate your comment.

In Berkeley and the SF area, the purchasing of real estate by Chinese

has been going on for decades.

My father owned commercial property in Berkeley and after the Loma Prieta

Earthquake in 1989, he had to attend some meetings for property owners

whose property had to be retrofitted.

He was amazed by how many Chinese were present and owned a lot of

Berkeley commercial real estate. Many of them were very limited in their ability to speak English; they were from Mainland China (not Hong Kong).

More recently, it didn't surprise us to learn that the terrible fire in Oakland

in the warehouse that had been converted to living quarters illegally was

also property that was Chinese owned. I guessed it even before the

revelation came out in the local news. The "Ghost Ship" had a manager, but

the owner was in China when the fire occured.

Both of my sons spent time in China, the younger one for four months straight.

Your comments are correct.

Noel7 · ‎03-09-2010

If you find a home in SF for under a million, you're lucky.

Not only are Asian nationals buying up property, we have the tech industry driving up prices.

Noel7 · ‎03-09-2010

@Big Sister wrote:
The story here in Orange County, CA is that there aren't enough homes for sale for the buyers that are out there looking.

Just today in our local paper the headline was if your income is $84,000 per year you are now considered "low income."

Rental apartments are going up each year and there aren't enough new builds to keep up with the demand from renters.

People can't afford to buy near their jobs. It's terrible.

I have to be grateful that my DH and I bought when we did.

We got that, too @Big Sister .

Low income in SF is now $120,000.

DiAnne · ‎09-22-2010

@Big Sister wrote:
The story here in Orange County, CA is that there aren't enough homes for sale for the buyers that are out there looking.

Just today in our local paper the headline was if your income is $84,000 per year you are now considered "low income."

Rental apartments are going up each year and there aren't enough new builds to keep up with the demand from renters.

People can't afford to buy near their jobs. It's terrible.

I have to be grateful that my DH and I bought when we did.

@Big Sister

I left Orange County over 25-years ago because I thought it had gotten too crowded. Can't imagine what it is like now.