Two homes up my street just sold for >$100 sqft. Similar sq footage as mine. I got in at around $95 psqf.
I’ll call a bottom along with TemeculaGuy.
Foreclosures in the pipeline, realtytrac issues, unemployment, etc etc etc. You balance the negative with unprecedented government intervention and a median home price in line with actual incomes and rental parity across the majority of properties.
Just as you have delusional kool-aid drinkers on the way up, you have delusional bottom-feeders on the way down. I like to stay fairly neutral and look at what is really happening.
The crash started here earlier and it makes sense that stabilization and bottoming will occur here earlier. Just because *your* market hasn’t bottomed doesn’t mean the story is the same everywhere.
