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  • February 29, 2008 at 6:08 AM #11961
    lostkitty
    Participant

    Thanks to the horrible snow we’ve had… my husband has been stuck in a few airports of late. Last week, he and a colleague spent their flight delay at the airport bar (remember, he is no longer a pilot – just a passenger – so this behavior is okay). Sitting beside them was a forecasting / assessment person for Freddie Mac – heading to San Diego to update their housing forecast.

    This dude told my husband that as of now (even before doing the reassessment) – FreddieMac has become extremely pessimistic about San Diego in particular, and is expecting ANOTHER 20 – 25% drop there from where prices are today – at a minimum. He also noted they think it will take 18 months or so to get there.

    Maybe this is old news to you all – but I was encouraged (about being able to afford a vacation place out there some day soon) and afraid (for the SD economy), … all at once.

    February 29, 2008 at 6:52 AM #162460
    gdcox
    Participant

    Graham

    It is old news if you have followed Rich Toscano’s forecasts since last year. What is surprising is how long the siblings and rating agencies etc took to realise what was happening.

    February 29, 2008 at 6:52 AM #162758
    gdcox
    Participant

    Graham

    It is old news if you have followed Rich Toscano’s forecasts since last year. What is surprising is how long the siblings and rating agencies etc took to realise what was happening.

    February 29, 2008 at 6:52 AM #162773
    gdcox
    Participant

    Graham

    It is old news if you have followed Rich Toscano’s forecasts since last year. What is surprising is how long the siblings and rating agencies etc took to realise what was happening.

    February 29, 2008 at 6:52 AM #162790
    gdcox
    Participant

    Graham

    It is old news if you have followed Rich Toscano’s forecasts since last year. What is surprising is how long the siblings and rating agencies etc took to realise what was happening.

    February 29, 2008 at 6:52 AM #162862
    gdcox
    Participant

    Graham

    It is old news if you have followed Rich Toscano’s forecasts since last year. What is surprising is how long the siblings and rating agencies etc took to realise what was happening.

    February 29, 2008 at 8:52 AM #162515
    SD Realtor
    Participant

    The 20-25% drop in 18 months may happen in certain areas and will not happen in others in 18 months. Personally I am pretty darn pessimistic about a 25% drop in 18 months in the more desireable areas. However if there is a major change in interest rates and/or employment there is a chance that can happen.

    February 29, 2008 at 8:52 AM #162814
    SD Realtor
    Participant

    The 20-25% drop in 18 months may happen in certain areas and will not happen in others in 18 months. Personally I am pretty darn pessimistic about a 25% drop in 18 months in the more desireable areas. However if there is a major change in interest rates and/or employment there is a chance that can happen.

    February 29, 2008 at 8:52 AM #162829
    SD Realtor
    Participant

    The 20-25% drop in 18 months may happen in certain areas and will not happen in others in 18 months. Personally I am pretty darn pessimistic about a 25% drop in 18 months in the more desireable areas. However if there is a major change in interest rates and/or employment there is a chance that can happen.

    February 29, 2008 at 8:52 AM #162845
    SD Realtor
    Participant

    The 20-25% drop in 18 months may happen in certain areas and will not happen in others in 18 months. Personally I am pretty darn pessimistic about a 25% drop in 18 months in the more desireable areas. However if there is a major change in interest rates and/or employment there is a chance that can happen.

    February 29, 2008 at 8:52 AM #162917
    SD Realtor
    Participant

    The 20-25% drop in 18 months may happen in certain areas and will not happen in others in 18 months. Personally I am pretty darn pessimistic about a 25% drop in 18 months in the more desireable areas. However if there is a major change in interest rates and/or employment there is a chance that can happen.

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