This is the reality of real estate in Sacramento right now: Own the home for $6500+ a month, or rent something equivalent down the street for $3350. Are we betting appreciation outpaces that difference? Seems like a lofty bet to make...
@realmatt_re Curious if you know the profile of buyers in this neighborhood? Transferees or local. Employment profile. We build north of there a mile or so.
@JeffGrenz Last time I looked, almost entirely people moving from the Bay Area or still living there. A surprising percentage of these were bought specifically to be rentals at a massive loss it seems - so I assume they plan to occupy at some point.
@realmatt_re @JeffGrenz they are slowly capitulating as more companies are doing RTO now.
@realmatt_re @JeffGrenz We keep getting outbid by people making Bay Area wages too. Looked at 2 houses this weekend, offers are already $30k over asking. 😞