The UT has printed something I didn’t expect to see nearly so soon…YOY prices are confirmed DOWN in San Diego county for the first time in a DECADE!!
Of course, John Karevoll of “derelict”, I mean DataQuick says he doesn’t read much into it…look, after “zabasearching” his name in CA, it seems he lives out in the boonies in Riverside or San Berdue county…hard to imagine him being able to read at all, I suppose.
Here is the link..share it with your poor unfortunate friends and neighbors who thought SD real estate can’t go down. Just out of curiosity, what do you think will happen once things ACTUALLY start to go BAD around here? Isn’t this odd, sdr, considering there haven’t been any major job losses or serious hits to income in San Diego?
Karevoll is poorly versed in the cycles of real estate markets. The prices move in trends; they don’t fluctuate month to month. At least the U-T gets both sides of the stories, although I think the bear side is factual and the bull side is RE cheerleading.
BTW People are leaving the county without being laid off. My wife tells me there are a lot of job openings in her field and the company I work for cannot fill several positions because experienced engineers will not move here. We just lost another one to Indiana last week.
A few days back there was an article in the UT about how San Diego is now the least safe major city in the USA. The reason: policemen are leaving citing high costs of living. To the city economy, it is the same when an employee gets laid off vs. when an employer cannot find employees to hire.
I see Hiring Signs every day. Yesterday, on the back of a Sears technician service van. At my bank. At Henry’s, the Verizon store. How can this not lead to higher wages?
I see commercial/retail building vacancy signs, more than before.
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