Quote:
Originally Posted by BMW F22
2008-2012
It cratered. Areas like SF and Saratoga only dropped 15-20% but the rest of the South Bay, for example, dropped significantly.
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Yeah, 2001-2, as well. I have some friends that bought a house pretty near the peak in Sunnyvale in '98, came into a little money in '03 and bought a nicer house in Saratoga for cheap, but were so far under water on the first one that they had to rent it. Things were pretty tight for them, what with carrying two mortgages and all, until they were able to finally sell at a small profit in '07.
It has been for a long time true that you can't lose money in the long run buying California real estate. In the short term, though....