I am well aware of the housing situation but I was wondering about 4S in particular. It just seems to me that these builders can’t be trusted. They show you a map of lots for future homes but have been sitting on the same phase for months. Is there any restriction as to what they can build if those remaining lots stay empty? In one part of 4s it looks like they are finishing a huge 5 block apartment compex. They might be calling them condos but they are apartments. Its kind of sad buying a home for $800k when across the street will be this loud busy complex with tons of traffic and noise. How can anyone be sure that if they bought away from this that the builder won’t decide homes aren’t worth it and try to throw up a condo right next door to you on the unsold lots where you thought only sfr would be.

I look at some areas such as Carmel Valley and although the world of real estate is collapsing that area is still growing and prices remain strong. Pardee refuses to dip prices and still has a huge amount of land they are preparing for more homes.

Some areas are in duress while others are still booming. It seems people are still buying. I’m not sure where they get the money from but it is still happening.