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Psyching out the 'Facebook effect'

Original post made on May 19, 2012

The rumors are flying: Once Facebook goes public, scarce housing will become even scarcer; prices will go sky high. Best to hold onto your house and list it after May, when Facebook's initial public offering is expected; best to buy now before the hordes enter the fray. We're doomed.

Read the full story here Web Link posted Thursday, April 19, 2012, 4:33 PM

Comments (4)

Posted by jack, a resident of Charleston Gardens
on May 19, 2012 at 6:44 pm

Well the stock will tank these next weeks. And then there will be flood of houses coming onto th emarket as people realise that prices will not keep on going from where they have left off these crazy 4 months!

The over exuberance, the daily pumping up by Ken Deleon, the agents pushing their clients to bid 25 percent over asking price will all stop.

Facebook tanking will have a huge psychological downer. All teh social companies will be running scared.

And those guys cannot cash out for 6 months! Thats Christmas folks, by which time the stock price will be around 5 dollars where it should be.

So all those new millionaires will be instead have 250,000 for a downpayment.


Posted by wrong, a resident of Greendell/Walnut Grove
on May 19, 2012 at 8:57 pm

Jack - you're just so wrong, it's like your head is in the sand.

Will it be insane and crazy on the market? no... but will there be lots of extra buyers wanting to buy houses in the PA/MP area? Absolutely.

I don't anticipate an increase in the inventory available, meaning that the 25% over asking is actually something that may become common.

Of course, if the market takes off, it may be enough of an incentive for people to list their houses, even though they had not planned on doing so.


Posted by talk to Meg, a resident of College Terrace
on May 20, 2012 at 10:58 am

35,000 fired HP employees should put a big damper on local home prices


Posted by wrong, a resident of Greendell/Walnut Grove
on May 20, 2012 at 11:45 am

"talk to Meg" - you think the 35,000 fired HP employees have stock options coming due in 6 months worth millions upon millions of $$$?

Doubtful.

HP fired a lot of the worker bees, some middle managers, and an occasional highly paid staffer who I'm sure will land on their feet, if they haven't already.


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