Housing Expert Sees Good News And Bad On The Horizon
Stephen Smiley, a Senior Vice President of Advisory with Meyers Research LLC, gave an overview of Sacramento’s housing market.
Stephen Smiley, a Senior Vice President of Advisory with Meyers Research LLC, gave an overview of Sacramento’s housing market.
Stephen Smiley chips in on the Bay Area’s suburb being the most fast-appreciating land markets.
In Dublin, “you can’t buy a new single-family house on a 5,000-square-foot lot for less than $1 million,” said Stephen Smiley of Meyers Research, an adviser to home builders. “Affordability is going to be a major issue.”
“As the good pieces come onto market, multiple builders are bidding on them and the prices are going to just astronomical numbers,” said Stephen Smiley, a vice president of Meyers Research, a consultant to the home building industry.
“We have started seeing a shift,” said Stephen Smiley, a vice president for the Northern California office of Meyers Research in Danville, an advisory firm to the building industry. “Two or three years ago, everybody’s idea was that high-tech folks want to live in nicer apartment buildings and be mobile and not buy.” But “rents got so high and you have number of choices for good townhomes and locations,” and interest rates are still low.