Are we at the peak of the market in the San Francisco bay area?

[Scott Allison]

I live in the East Bay, in Concord to be precise and prices here are at an all-time high. I've been thinking for a few years about cashing out here in my primary residence and relocating somewhere cheaper, like Las Vegas and living there for the long term. It would potentially let me move more quickly with investments, having freed up some capital. On top of this, I'm thinking of renting in Vegas for a year and waiting until the market bottoms out there before buying.

What do you all think? I know it's hard to time the market but I feel pretty confident that prices here will fall or stay flat, while prices in Vegas are likely to drop more significantly. My employer has already given me the OK to work remote.

[Lawrence Leung]

@Scott Allison If only Shelter in Place didn't prevent me from getting my magic 8 ball at the office :)

All kidding aside, I think you already have the answer to your question. It sounds like you've done well for yourself in terms of appreciation and for that you should be proud. If your work gives you the flexibility to work remotely go for it and take advantage of your IRC 121 capital gains exemption and reinvest anywhere. Vegas could be a smart move based on historical trends during downturns, but just make sure you have a Plan B/C in the event the downturn doesn't happen as quickly as you expect or you have to come back to the Bay Area for family or some other emergency. Best of luck and keep us posted on your decision!