πŸ”΄[LIVE] Real Estate Inventory TOO LOW for a healthy market



πŸ”΄[LIVE] Real Estate Inventory TOO LOW for a healthy market

Three things you need to know about living in Silicon Valley. The first thing we're talking about is retiring and moving out of Silicon Valley. The second thing is what you get for a million dollars today in Silicon Valley. And we're also going to look at another big house that caught my eye. And then we're also going to see this weekend's events in Silicon Valley.

Three things you need to know. And also I went hiking yesterday and it. So I want to give you, my little video and watch me sweating and suffering up there. Anyway, let's get into it. The first thing we need to know is moving to the Caribbean. Let's take a look at where this is. Again, this is another blog.

The Best Places to Retire in the Caribbean

These guys talk about expats and they Teach you all the things you need to know. There's a ton of these different kinds of companies out here. This is just the first one I looked at. But yeah every week I go to the beach, I go, mostly I go to Carmel by the sea just because it's off leash and I take my dogs there.
But being near the ocean just keeps calling me. When I was in the Marines, I was in Okinawa and I loved it. I loved going every day. We would run down to the beach, and soak in a little bit. Scuba dive or snorkel, play around, have some fun when we weren't training or what have you, but all of these things right here, St.

Lucia, Anguilla, I have an opportunity to go to,
to BVI British Virgin Islands, thinking about it. Cause it's always a thing, right? You always want to look at opportunities and options. Guy grew up with Carl Kaiser. He and I went to the beach a couple of days ago and we were talking about going sailing and he's been doing sailing every Saturday or every other Saturday.
And I'm not the most proficient sailor. I feel I could get on the ocean and I know what I need to do. I'm just not. It's not in my brain it's not, I know, I don't know how to take initiative. I need to take direction at this point. I know how to tie knots. I know the understanding of it, but tell you, just going to a place like on the water where you just go sailing and fishing and hanging out, it's grounding.

And yeah you get away from all this. Other stuff that's going on here. It just opens up my mind, right? So I might be going to the bi next year. Who knows? We'll see I also have another friend who wants to go down to costa rica. I'm gonna check that place out last week We talked about that.

What you get for $1MM Santa Clara County 

All right, what'd you get for a million dollars? Look at this bad boy. This one is listed at 950, 000, two bedroom, one-bath, 984 square feet bungalow in what's called Burbank, right? This is the Burbank area. Take a look at this Meridian, Burbank. This is a Rose Garden area over here. This is where Googleplex is going to be.

Being that close to Googleplex kind of makes sense. But let's take a look at this now Not the highest res. I don't know. They had like fish eye lens on this camera I could swear up and down, you know for a million dollars guys Hire a freaking professional photographer turns the lights on look.

There are two lights here. There's a light here I Could have cleaned up a little bit better. I feel like this agent just It's mailed it in this, but here's the thing, two bedrooms, one bath for a million dollars, 1939. It's almost a hundred years old on the market 24 days. But at the same time Hey you the next best option is this guy right here or this guy right here, which is really, close.

Three bedroom, one bath Julian Street, right? Again, built in 1916. So this is over a hundred years old. Obviously, new windows, new floors, new kitchen. They put a little bit of frosting on the cake.

And you're right next to... Let's open this guy up. This one is right on Julian Street. Julian Street is quite a busy street, as a matter of fact. There it is, right? It's going to be right next to the Googleplex. If not, they'll take it over. So there you go. That's what you get for a million dollars. But let's take a look at this guy right here.
Moura Drive. Moura Drive. $17 million, $18 million list originally listed at $20 million on the market, 183 days. I went back and this thing's been on and off the market for the last few years. The guy, whoever it was, bought it for $12 million or so, as up in the mountains, up in the hills. Up in the way back where everybody wants to be, but you gotta take a look at this.

I would love to shoot a video here. Look at that. Look at that. Look at that, view. We used to call that a million-dollar view. Now it's a $20 million view. That's crazy. That's beautiful. I'm gonna reach out to this agent, and see if I can shoot, the video on this. It's just gorgeous. That's a shower right there.

Not truly $1 million, but $20 million. So I rounded up. Okay, this weekend's events. Let's take a look. This one right here is especially exciting to me maker's market in Santana Row, August 12th. What's This Saturday from 11 to 6 p. m. You should go there. I might go there I might take my kids there if I can grab them there and maker's mark if you know that you do all sorts of little Events and little things where you can make stuff with your hands and teach the kids science and stuff like that So that's always a fun thing.
Also don't know if you know this or not Donny Osmond. 
My friend Elaine loves Donnie. She actually got to sing next to him and he's in town this week. I can't find it, so forgive me. Oh, look, Paul Reiser's here. Good for him.
And there was another one that I wanted to show you that I thought was pretty fun to talk about. That's, it's going to talk about San Juan Day, but I don't know what that is. Aloha Festival. There it is. San Mateo. Aloha. By the way, our hearts and minds and prayers go out to the people at Maui. Hope you all do well and our prayers are for you.
Oh, there is Donny Osmond right there. How fun is that? Marie. Marie. Elaine. I hope you, get to go see him. I already texted you about that. Okay. Other than that, guys, a beautiful day is coming. Oh yeah. Humble pie. You get to see me like survive.

Humble Pie 

Let's see if I can shut this off. Do you know that we have cows and cowboys in Santa Clara County? We do. Yesterday I saw about 10, 15 cows and they were there. I don't know if you could see it or not. Oh, that's, this is a different one. But then I tell you, I was not expecting that at all.

I was expecting to go four or five miles and we went eight all the way uphill, all the way up to the antenna. If you know what I'm talking about, Coyote Rock, the antenna, it, oh, I was just wasted the entire day. A beautiful day's coming. I'm actually going to go meet with my lead today to go talk about how many plants we need to build, put in, etc.
Yeah, there you go. Other than that Inventory is still low. We're still relatively low I mean you see this chart here you see here right here over the last 10 years We've been Drastically low, right? I mean It just keeps getting worse and worse. And I understand that, but this is the reason why prices are staying high.

Everybody's and I even mentioned it a couple of years, a couple of months ago, Airbnb. Now they could collapse the market, right? Because the holdings in Airbnb are roughly 1% of the inventory right now of the entire United States. I know they're global, but if a portion of them went out, let's just say half of them went out and they decided that they were going to sell all at the same time.

That's only, one-half of 1%. When we saw our market collapse in 2008, 2009, that happened. It was only 5% of the entire. The market of people that owned properties. So at that time, let's say it was 300, hundred million houses across the United States. Only 5% of them had those toxic loans that people walked away from.

That was a whole lot more than what Airbnb has. So could it be a part of the collapse? Possibly

the problem that. intersects with that is that we have more people, 65% of people that own a house. That have a mortgage on it are the loans are less than 3%. So fewer people will be inclined to walk away from houses like that because they now have equity in it, unless it goes down below what they bought it for in 2020, 2021, 2022, the end of, or the beginning of it, those people are less inclined to walk away from it because they have equity in it, not the pickup pay 0% down toxic asset loans that were being produced back in 2008. So I don't think, I don't think the real estate market is going to be the tipping point. I don't, I'll, it could be automotive, it could be medical, it could be insurance, it could be whole credit cards because we're, we have more money stacked up in credit cards today than any time in the United States history.

 We're all on a stack of cards and with all the inflation that's going on unemployment. Yay. We know that this recession isn't going to happen or it is going to happen, but it'll be really mild. There will be something that happens that tips over and it might be now it might be later the conspiracy theory side of me says the Democrats are pushing this off until the cycle is the election cycles over and we know who's going to be president.

That's always a thing. Credit cards, healthcare, housing, automotive energy, and commercial real estate, could always be the thing. We don't know what it is. There are so many different parts to this, right? I know that the military-industrial complex is doing well because we're creating munitions for, our proxy war in Ukraine and other worlds and other places.

I don't think that's an issue. I don't think we'll ever allow that to be a non. a dangerous part of our GDP. Other points are, pushing out that we're not acknowledging. So could we see a crash in the market? Yes, but I think it would be a global crash. It would be a global economic crash or at least one just located just the United States, but it would not be a crash started by real estate.

That's my, thought. And it's not outta hubris, it's just out of logic. It's not out of my ego saying the housing market will never crash. I think we are oversaturated, even though we don't have enough inventory. I think prices are still artificially high.

Sandwiches, gas, cars, everything is artificially high. I keep looking towards automotive as the catalyst or the card that tips over because I think that's where we're going to see the vacuum happen, the intake, the black hole of sucking what happened with the real estate market? We'll see.

We'll see what happens. Ford is doing something where they're getting rid of dealerships. Now that could be the trigger. That could be whatever. I don't know. So who knows I'm not an expert in those fields I'm an expert in real estate, but I do know that we don't live in a silo I know that other things affect us in real estate, and that's economy jobs market politics Automotive energy health care.

Everything is intertwined and when one thing goes down, we're all going to fall down So just keep that in mind

Also at the bottom of my blogs, you'll see these videos that are coming up. Okay. That's enough. You know what? It's Thursday. Have a great weekend. I'm off probably Saturday. I'm going to go to the maker's fair or I'll be at the beach. So we'll see. I'm Vito with Abitano. We'll see you out there.


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