Bay Area’s shocking home prices are the talk of the nation – East Bay Times – California News

Bay Area’s shocking home prices are the talk of the nation – East Bay Times – California News

Turns out that the Bay Area’s dwindling supply of home for sale under $500,000 isn’t just the talk of the Bay Area.

The whole country seems to have something to say about it.

In response to our story about June’s sales of relatively low-priced properties falling 17 percent from a year earlier, thanks to the fact that fewer homeowners want to take less than a half-mill for their homes these days, scores of readers commented on the trend. Some are former Bay Area residents who lived here when the real-estate market was a lot less insane than it is today, others describe real-estate markets where they now live.

Here are some of their comments, edited for clarity and length:

From “TheBruce:”

“When I was a kid in 1977, I lived in a 1,200 sq. ft. home in Milpitas, CA (SF bay area) with my mom, dad, and sister. That small house is now “worth” $800K according to zillow.com. That’s pure madness.”

From “bonestabone:”

“Even Vallejo is becoming overpriced, you’re still looking at $300k for an old fixer upper.”

From “idefix:”

“When the service workers give up and leave the Bay Area, one hopes that this region will finally be forced to confront its housing problems.”

From “John Romig:”

“I live in Rochester NY and I own two homes. Anybody can buy a nice four bedroom house here for $45k. Including a detached garage and off Street parking. Yes, $45,000. Rochester NY has a decent city school district. Violent crimes are also way down in Rochester NY. The weather is good from April through October and then it gets cold, dark and snowy for @…

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