In 2017, Business Insider writer Sam Dogen (also renowned author of my favorite finance and real estate blog Financial Samurai) became a stay-at-home dad after he sold his SF rental property for $2.75 million, leaving him with a $1.8 million profit after paying off the mortgage, taxes, and fees. Umm, can we say GOALS? Now a couple years later, he wants to buy property in SF again. Why now, you ask? (Or maybe you didn’t ask and I’m gonna tell you anyway?)
Well, Dogen says property prices in the US have softened and mortgage rates have collapsed. All while rent prices continue to rise! Plus he thinks the fact that 2020 is an election year, the stock market is thriving AF, and the amount of foreign buyers has dramatically decreased, all point to now being a good time to start looking into purchasing. He listed about 87** other reasons if you’re interested in reading all of them (**ok fine slight exaggeration, but honestly, there were a lot and they were all pretty convincing).
*Disclaimer: Every economist, journalist, and psychic will have varying degrees of optimism and pessimism about where the housing market is going—up, down, all around. If you want to compare different points of view and form your own educated prediction, here are a few other market forecasts to satisfy your inner nerd: Realtor.com, Redfin, Forbes, Freddie Mac, and Zillow.
All things real estate.