Re:To solve affordability crisis, Bay Area housing stock mus...
by alonmower on Tuesday May 01, 2018 @04:53PM
(#16971502)
Ya, as a current renter I've wondered what a giant earthquake would do to housing prices.
On the one hand, lots of people lose their investments and are forced to sell their land or take out loans to rebuild. You might be able to buy land or a damaged property for a good deal. Contractors would all be completely overbooked and the price to rebuild would likely be quite high for some time. Some who have never experienced earthquakes might get scared out of the region altogether.
On the other hand the houses that survive are now part of a much smaller pool of available, livable houses and there's still a lot of money in the region so I could see prices for these houses shoot through the roof.
On the one hand, lots of people lose their investments and are forced to sell their land or take out loans to rebuild. You might be able to buy land or a damaged property for a good deal. Contractors would all be completely overbooked and the price to rebuild would likely be quite high for some time. Some who have never experienced earthquakes might get scared out of the region altogether.
On the other hand the houses that survive are now part of a much smaller pool of available, livable houses and there's still a lot of money in the region so I could see prices for these houses shoot through the roof.