Updated over 5 years ago on . Most recent reply
Coronavirus will affect house prices.
How much though?
In Reno? Phoenix? Seattle? San Fran?
Most Popular Reply
#5 New Member Introductions Contributor
- Real Estate Agent
- 🌧️ Seattle Investor & HouseHacker | 🤑 Helped 100+ Clients HouseHack | 🏘️ Own 17 Rentals & 5 Airbnbs | 🏗️ Built 5 DADU's
- 2,973
- Votes |
- 719
- Posts
#5 New Member Introductions Contributor
- Real Estate Agent
- 🌧️ Seattle Investor & HouseHacker | 🤑 Helped 100+ Clients HouseHack | 🏘️ Own 17 Rentals & 5 Airbnbs | 🏗️ Built 5 DADU's
Yes we'll be seeing higher unemployment for a little while - but in markets like Seattle housing prices are driven by tech demand, and tech is built for work-from-home and still hiring. Yes, a lot of retail, restaurant, and service workers are losing work but they're not driving the appreciation in high cost markets.
I think its much to early to tell which direction this will go- people I'm interacting with are still "greed" driven (can I get a good price on a rental property? When should I invest the dip in the stock market? What real estate deals might COVID-19 bring?)... The real downturn will come when folks stop being "greed" driven and start being "fear" driven. With how much cash and pent up demand is still out there my bet is that the economy will have to stay in the toilet for 6-12 months for us to get to that point.
- Michael Haas
- [email protected]
- (408) 439-7873
