What is stopping NoVA from reaching SV level prices?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So not going to happen.

We don’t get foreign investors. We aren’t surrounded by water. Nowhere near the level of NIMBYism and property rights much stronger.

And tech companies aren’t huge here, just auxiliary. No massive IPO or acquisitions which is lifeblood of wealthy in SV.

Lol! You clearly are in tech.

This is what is driving the young wealth here. This is how 30yr olds are scooping up 1M homes.

Uh.. I don't know any 30 yr olds in tech buying 1M homes around here unless they had help from their parents. Tell me which companies around here provide that type of salary or stock to its young tech workers and pls don't say sales. Most 30 yr olds I know aren't living in million dollar homes. More like apartments in DC, Arlington or Silver Spring.

Why would you even want to live in a 1M home in the suburbs. Most of the young tech workers I know (male and female) are workaholics and happily single, bouncing between music festivals, Tinder and Bumble, and Netflix. They want urban density in DC. A lot of them never want to settle down and they're already past the age where grandma would say "just wait, you'll change".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So not going to happen.

We don’t get foreign investors. We aren’t surrounded by water. Nowhere near the level of NIMBYism and property rights much stronger.

And tech companies aren’t huge here, just auxiliary. No massive IPO or acquisitions which is lifeblood of wealthy in SV.

Lol! You clearly are in tech.

This is what is driving the young wealth here. This is how 30yr olds are scooping up 1M homes.

Uh.. I don't know any 30 yr olds in tech buying 1M homes around here unless they had help from their parents. Tell me which companies around here provide that type of salary or stock to its young tech workers and pls don't say sales. Most 30 yr olds I know aren't living in million dollar homes. More like apartments in DC, Arlington or Silver Spring.

Tech works in those auxiliary offices make $170k+ with good stock options.

Many are millennials and don’t have kids, so get two of them and the can swing a $1M mortgage easy.

But as PP said, most millennials I know are into traveling, dogs, eating out, not owning things. They really took the ‘experience over material things’ message hard.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So not going to happen.

We don’t get foreign investors. We aren’t surrounded by water. Nowhere near the level of NIMBYism and property rights much stronger.

And tech companies aren’t huge here, just auxiliary. No massive IPO or acquisitions which is lifeblood of wealthy in SV.

Lol! You clearly are in tech.

This is what is driving the young wealth here. This is how 30yr olds are scooping up 1M homes.

Uh.. I don't know any 30 yr olds in tech buying 1M homes around here unless they had help from their parents. Tell me which companies around here provide that type of salary or stock to its young tech workers and pls don't say sales. Most 30 yr olds I know aren't living in million dollar homes. More like apartments in DC, Arlington or Silver Spring.

Tech works in those auxiliary offices make $170k+ with good stock options.

Many are millennials and don’t have kids, so get two of them and the can swing a $1M mortgage easy.

But as PP said, most millennials I know are into traveling, dogs, eating out, not owning things. They really took the ‘experience over material things’ message hard.

But to heart of OP, jo babies, no boom in DC RE

https://www.forbes.com/sites/josephcoughlin/2018/06/11/millennials-arent-having-kids-heres-why-thats-a-problem-for-baby-boomer-real-estate-retirement/#474ac8d02058

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because it's in Virginia, not California. A lot of people around the county have negative preconceptions about the state, and it doesn't help when there keep being major news stories about Charlottesville, Northam, etc.

Nobody gives a sh!t about that. If that were the case then Maryland would be able to keep up and blow past NOVA, but they can't.

For instance:

MoCO median home price 449k up 0.6% in the last year. Projected to go down 1.3% in the next year.

Fairfax County median home price 523k, up 1.7% in the last year and projected to be UP (not down like MoCo) 0.3%

Even loudoun county (lots of tech workers) blows MoCo out of the water in home value and way our paces fairfax county in appreciation rate in the last year and projected appreciation rate in the next year. That va county in the hinterlands will have more value than homes closer in because there are high paying tech jobs all along the Dulles corridor and more being built every day.

Maryland not so much even though according to you there are "negative preconceptions " .

This is a NoVA vs. SV thread. Maryland isn't at all relevant here. But there are plenty of other VA vs. MD threads out there for you.

[Anonymous]

It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

[Anonymous]

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Why the strong animosity for Springfield? It has an interstate running through the middle of it, so that makes being beautiful kind of challenging. Though I would dare you to compare it to many parts of the country where zoning laws are non-existent. Springfield is a relative paradise compared to those places. Fairfax County does a good job of separating types of development. And if you get a way from the interstate just a bit Springfield is quite green.

And why the choice of the words "deserves to be nice"? Are you a kid?

[Anonymous]

Anonymous wrote:So not going to happen.

We don’t get foreign investors. We aren’t surrounded by water. Nowhere near the level of NIMBYism and property rights much stronger.

And tech companies aren’t huge here, just auxiliary. No massive IPO or acquisitions which is lifeblood of wealthy in SV.

Of course we have foreign investors!

[Anonymous]

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Every region has its armpit parts. Some even smell worse than armpits.

https://m.sfgate.com/local/article/why-does-milpitas-fremont-smell-bad-cause-garbage-13698010.php

[Anonymous]

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Was about to say something similar. SV has the Pacific on one side and gorgeous mountains on the other side + bay.

Nova is ugly as shit humid swampland.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Was about to say something similar. SV has the Pacific on one side and gorgeous mountains on the other side + bay.

Nova is ugly as shit humid swampland.

NOVA is what it is, granted no oceans and views. But it is invigorating the Mid Atlantic in TECH plus politics. Being just outside of the heart of Congress doesn't exactly hurt and many of my neighbor lawyers and lobbyists live hear for precisely that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Was about to say something similar. SV has the Pacific on one side and gorgeous mountains on the other side + bay.

Nova is ugly as shit humid swampland.

NOVA is what it is, granted no oceans and views. But it is invigorating the Mid Atlantic in TECH plus politics. Being just outside of the heart of Congress doesn't exactly hurt and many of my neighbor lawyers and lobbyists live hear for precisely that.

If you are creating a product or service people actually want to buy or use, you won’t need to kiss a politicians ass.

Talented people have choices and choosing not to live in an expensive swamp is obviously one most make.

[Anonymous]

Anonymous wrote:The problem with NoVa is that it is located in Virginia.

I see your IQ isn't very high considering Nova literally stands for Northern Virginia.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Was about to say something similar. SV has the Pacific on one side and gorgeous mountains on the other side + bay.

Nova is ugly as shit humid swampland.

You know what causes that humidity? Water. The fundamental element of life on Earth. I do believe California struggles with water.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Was about to say something similar. SV has the Pacific on one side and gorgeous mountains on the other side + bay.

Nova is ugly as shit humid swampland.

NOVA is what it is, granted no oceans and views. But it is invigorating the Mid Atlantic in TECH plus politics. Being just outside of the heart of Congress doesn't exactly hurt and many of my neighbor lawyers and lobbyists live hear for precisely that.

If you are creating a product or service people actually want to buy or use, you won’t need to kiss a politicians ass.

Talented people have choices and choosing not to live in an expensive swamp is obviously one most make.

Actually we have a product that no one is willing to pay for, want to use for free, then trade their personal information for its use, then politicians do matter

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a shity southern state with as much swampland around its one draw (DC). Traffic sucks so there is a race to be close but the rest is mediocre. Who would look at Springfield and think this deserves to be nice?

Was about to say something similar. SV has the Pacific on one side and gorgeous mountains on the other side + bay.

Nova is ugly as shit humid swampland.

NOVA is what it is, granted no oceans and views. But it is invigorating the Mid Atlantic in TECH plus politics. Being just outside of the heart of Congress doesn't exactly hurt and many of my neighbor lawyers and lobbyists live hear for precisely that.

If you are creating a product or service people actually want to buy or use, you won’t need to kiss a politicians ass.

Talented people have choices and choosing not to live in an expensive swamp is obviously one most make.

Actually we have a product that no one is willing to pay for, want to use for free, then trade their personal information for its use, then politicians do matter

Good point, but not all SV companies have made money this way.