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Oregon Duck

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With tech and venture capital rapidly moving into Irvine are we seeing the same type of sustained run up in home prices as the Bay?

 
I highly doubt it. Even though VCs are funding more companies in Irvine area it doesn't come close to the bay area. There are few, if any, successful startups that has really made it big. What we need is a few startups with strong IPOs that mint hundreds of millionaires. Local companies that achieves some level of success recently end up getting bought by bay area companies and move up north. Until that changes we won't see anything close to what's happening in the bay area.

Just be glad that homes in Irvine are so "affordable" compared to anything you can possibly imagine up north where SFR starts from $1000/sqft in cities like Palo Alto.
 
Oregon Duck said:
With tech and venture capital rapidly moving into Irvine are we seeing the same type of sustained run up in home prices as the Bay?
Click to expand...

I haven't seen anything close to it although there is uptick in the area.
 
I hope so, but I doubt it.  It's all about supply and demand.  In the Bay area, there is no land.  In Irvine, there is so much land and builders are constantly building, so prices are don't double in 5 years like it did in the bay.  Why buy yours when there are so many new home being built nearby?  Even in the elite area of Shady Canyon, home prices are $800-1200/sq ft.  Even a broken home in Sunnyvale, like this one, costs $987/sq ft.
https://www.redfin.com/CA/Sunnyvale/1698-Nightingale-Ave-94087/home/726362
 
jmoney74 said:
Oregon Duck said:
With tech and venture capital rapidly moving into Irvine are we seeing the same type of sustained run up in home prices as the Bay?
Click to expand...

I haven't seen anything close to it although there is uptick in the area.
Click to expand...

Same thought
 
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