Well... Santa Clara is relatively close to the center of things ....... Just think you could perhaps walk to Great America ..... Actually, if you were doing a forced relocation then the Santa Clara stuff would be a reasonable temporary solution for housing ....
There is no question that buyers in general are acting with greater reserve in the US real estate market, deterred by market highs and rising interest rates. However, when selling lots in new developments, homebuilders always adjust their prices to market realities. They can do this by jacking up the week over week in the face of heavy demand, or they can offer "discounts". Usually this means they will offer to build your house for X$ less than last month, but the materials and extras may vary. They will not build that house at a loss. You speak of a crashdown as though it is inevitable. Why?
The buyers are back in my part of florida. I have both anecdota evidence and MLS evide. 451 pendings or back up neededs in last two months. 310 something of them in last one month. And speaking with friends in the industry most of that has been done since Christmas. I have seen the same type of activity pickup in Lakewood Ranch, Bradenton. 21 of the 27 pendings and backup neededs were in the last 30 day. By the way Lakewood Ranch as the epicenter of the renters discontent.
Do I detect some bias or wishful thinking. No falling knife here. Some homes are reaching new price highs. Where there is competition you have to have a realtor now instead of being a fsbo. Falling knife not.
Due to the fact that you are illiterate, I cant take your assertions seriously. But, then again, those people were the new American insta milllionaires.
Ok, you're certainly entitled to your own opinion, Jem. I am not biased, nor do I give a rat's arse what happens in the housing market. I live in Puerto Rico, on the beach, with no care of selling my place or buying another one in the near (read: 5 year) future. But from where I stand, listening to those claiming round two of house price increases is about to begin (ding ding) it sounds like a load of horseshite. Denial. Not just a river in Egypt anymore.