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Dot-com crash 'not even close' to what's happening now

Original post made on Apr 18, 2020

Founding CEO of Peninsula powerhouse brokerage shares his thoughts on how the coronavirus might affect local markets -- and prepares for the May release of his new book about the real estate industry.

Read the full story here Web Link posted Thursday, March 19, 2020, 7:00 PM

Comments (16)

Posted by Fatty no longer
a resident of Barron Park
on Apr 18, 2020 at 4:50 pm

I think social distancing will even out the real estate market. No longer prestige neighborhoods because people cant mix in them.
Why bother paying 20 times the price, if you cant have folk over to show off your home to. We all just need a safe environment and a good internet connection.


Posted by Jenna
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 5:02 pm

I guess our Gov. has no appreciation for the quaint downtowns like we have in PA, and Mt.View, Willow Glen, etc. He may take notice when property values steeply decline due to the ghost towns that no one will want to live next to. He is beyond foolish for not being proactive to save our downtowns and all the small businesses, let alone all the dentist office, doctor office tax revenue those TRUE ESSENTIAL businesses provide. Hope he opens up CA ASAP


Posted by Anon
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 5:30 pm

Posted by Jenna, a resident of Another Palo Alto neighborhood

>> He is beyond foolish for not being proactive to save our downtowns and all the small businesses, let alone all the dentist office, doctor office tax revenue those TRUE ESSENTIAL businesses provide. Hope he opens up CA ASAP

We're not sheltering in place for fun. We are sheltering in place because this virus is particularly contagious, and dangerous. That isn't the fault of the governor, or any governor, or the President. It is a very dangerous virus. We don't want high-contact businesses to open up, and we can't handle returning to the old high-contact social norms until we get everybody vaccinated-- after we develop a vaccine, which people are working very, very diligently on. The problem we are up against isn't the governor, the problem is a highly contagious virus.

What should government(s), and, landlords, do regarding small, independent businesses? I don't think there is one answer.


Posted by Jenna
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 6:08 pm

[Portion removed.] There are lots of Low Risk businesses that can begin to open now...especially with mask protocol and social distancing.


Posted by @Jenna
a resident of Mountain View
on Apr 18, 2020 at 6:45 pm

We should lift shelter in place now? Why? We're not even close to the peak number of cases in Santa Clara County yet. And unless there are enough test kits available to do an actual screening program, lifting restrictions will only increase the number of COVID-19 cases -- and deaths.

[Portion removed.]


Posted by Jenna
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 7:00 pm

[Post removed.]


Posted by Anon
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 7:12 pm

Posted by Jenna, a resident of Another Palo Alto neighborhood

>> Anon stop the fear mongering

Fear mongering? As of yesterday morning, -at least- 33,288 people in the U.S. died from the virus. Web Link


Posted by @Jenna
a resident of Mountain View
on Apr 18, 2020 at 7:14 pm

[Post removed.]


Posted by Susan
a resident of Midtown
on Apr 18, 2020 at 7:18 pm

Given that the mortality rate is much lower than originally thought for those without comorbidity issues, I don't see why we cannot begin to open up business for most people, while still employing social distancing and masks and general hygiene, etc. At the same time those who are at greater risk continue to shelter in place and avoid visitors (including grandkids, etc.). I am 70 years old, and I would continue to shelter in place. But our economy simply cannot continue to be paralyzed.


Posted by Jenns
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 7:30 pm

[Post removed.]


Posted by Jenna
a resident of Another Palo Alto neighborhood
on Apr 18, 2020 at 8:34 pm

[Post removed.]


Posted by @Jenna
a resident of Mountain View
on Apr 18, 2020 at 8:44 pm

[Post removed.]


Posted by Anon
a resident of Another Palo Alto neighborhood
on Apr 19, 2020 at 11:46 am

I strongly encourage "deniers" to look at this web page, particularly, the graphs at the bottom which are set to look at rates (per population).

Web Link

Compare New York and California. This has been a mass-casualty emergency in urban metropolitan New York City (including New Jersey, etc.). Absolutely devastating. Don't tell me that it is worth risking that here just so we can keep restaurants and bars open for business. On April 7th, the death toll from COVID-19 in NYC topped that of 9/11. Since then, the death toll has climbed, with a confirmed death toll of 8,811, and 4,429 more "probable" (died of same symptoms but no test done). 13,240 people. I'm OK with keeping social distancing in place as long as it makes sense.


Posted by Insane
a resident of Mountain View
on Apr 19, 2020 at 12:00 pm

@Anon I absolutely agree that we need to continue best social distancing etc. but can you explain why it’s OK for Diddams, a party supply store, can stay open while SummerWinds, a place we can buy plants and seeds to grow our own fruits and vegetables, is not allowed to have pickup orders?

It is INSANE. Complete and total lack of common sense.


Posted by S_mom
a resident of Community Center
on Apr 19, 2020 at 12:45 pm

I hope that after May 3 the new shelter in place orders bring more nuance. Construction, yard maintenance, and other outdoor-based employment should be allowed to resume with proper protective procedures. People should be allowed back into open spaces (including our own neighborhood parks!) as long as they are not gathering with other households. Even retail could be opened back up I think if they limited the number of people inside based on the square footage, and required masks and encouraged no contact sales where possible.

I agree we shouldn't be allowing gatherings in large numbers or longer-term indoor activity (like movie theaters or seated dining in restaurants). But I just think given how low our numbers are (am I reading right that Palo Alto had one new confirmed case of coronavirus last week?) we should be considering some measures that promote the economy and well-being of our citizens, rather than doing exactly what we are now. Really, as strange as it sounds I think we should be aiming for a little more hospital utilization (given that having people catch the virus eventually is unavoidable unless we stay inside for 18 months) so that we don't draw out the amount of time we have to stay at home and cause these terrible economic outcomes. I don't know if this is the right move for the whole county, but I think Palo Alto's numbers justify opening up a bit.


Posted by Anon
a resident of Another Palo Alto neighborhood
on Apr 19, 2020 at 12:47 pm

Posted by Insane, a resident of Mountain View

>> can you explain why it’s OK for Diddams, a party supply store, can stay open

No, I cannot explain that.

>> while SummerWinds, a place we can buy plants and seeds to grow our own fruits and vegetables, is not allowed to have pickup orders?

I can't explain that, either, but, I wouldn't lump the two cases together. I would expect that any such order that we have had will have some irrationalities and inconsistencies. I could mention more, myself. I can only say that the situation really was an emergency, and, ill-considered things always happen in emergencies. People are fallible.

I never shop at Diddams, anyway, myself, so it will be easy for me to avoid contracting coronavirus there. I also agree that it makes sense for open-air nurseries to stay open.

Coronavirus is transmissible via a salt shaker, Web Link , so, any contact during the process of commerce can be a risk. I don't envy the public health folks who have to decide what to allow open.


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