wvwvw
11-11-2018, 03:10 AM
As luxury housing markets in New York City, Vancouver and San Francisco show signs of wobbling after nearly nine years of torrid price growth that has already more than compensated for the Bush-era housing collapse, a report by Trulia Analytics offered the latest insight into where some of the most painful retrenchment might occur for home owners and mortgage holders who risk seeing a large chunk of their net worth wiped out (the losses could be particularly painful if Nassim Taleb is right about the next debt crisis beginning in the housing market).
In the report, Trulia examined which cities among the largest 100 US metro areas saw the largest increases in the number of million dollar homes, as well as the number of neighborhoods where the median home value is one million dollars.
Unsurprisingly, the markets that saw the largest increases in the number of million-dollar homes were almost exclusively on the West Coast, with Long Island, NY the only east-coast market to crack the top ten. No markets in the midwest or south made the cut.
But digging deeper into the data, this is possibly the most glaring stat to suggest that last year might have seen a pre-bust run-up equivalent to the rate of home appreciation in 2005 and 2006. Of the 838 million-dollar-neighborhoods currently in the US, more than 105 crossed the threshold in the past year alone. Seven of these were located in San Francisco, joining the 80 neighborhoods in the city that had already shared this designation. These new additions include South of Market, Portola, Ingleside and ever-popular Fisherman’s Wharf neighborhoods. Across SF, only 15 neighborhoods remain with a median home value below $1 million.
https://www.zerohedge.com/news/2018-11-10/almost-every-san-francisco-neighborhood-average-home-worth-more-1-million
In the report, Trulia examined which cities among the largest 100 US metro areas saw the largest increases in the number of million dollar homes, as well as the number of neighborhoods where the median home value is one million dollars.
Unsurprisingly, the markets that saw the largest increases in the number of million-dollar homes were almost exclusively on the West Coast, with Long Island, NY the only east-coast market to crack the top ten. No markets in the midwest or south made the cut.
But digging deeper into the data, this is possibly the most glaring stat to suggest that last year might have seen a pre-bust run-up equivalent to the rate of home appreciation in 2005 and 2006. Of the 838 million-dollar-neighborhoods currently in the US, more than 105 crossed the threshold in the past year alone. Seven of these were located in San Francisco, joining the 80 neighborhoods in the city that had already shared this designation. These new additions include South of Market, Portola, Ingleside and ever-popular Fisherman’s Wharf neighborhoods. Across SF, only 15 neighborhoods remain with a median home value below $1 million.
https://www.zerohedge.com/news/2018-11-10/almost-every-san-francisco-neighborhood-average-home-worth-more-1-million