Last night I attended an RE investment meeting. A couple of observations about the meeting and what was said:

1) There was easily 250 people at the meeting looking to invest. So this tells me sentiment for RE is still quite high despite recent huge declines.

2)The only organic sales happening right now are low-end starter home purchases for people that were priced-out for the last 8 years and now want to buy. Pent-up demand seeking to satisfy their demand.

My take: There’s still some money to squeeze out of the market in the near term on the low-end. How long this will last? As unemployment rises in CA, this could be a very short lived opportunity.