Ahhh . . . . one amendment to my original list to start this thread.
11a. The Fed raises conforming loan limits from 417K to up to 700K in California. This along with the interest rate cuts from the Fed may completely negate the credit cruch effects with respect to non-subprime, non-Alt A, loans for buyers of homes priced $600K+ (part of my original list) in nicer areas. Not needing a Jumbo is like a full 1% rate cut on the mortgages for these buyers, a huge stimulative plus.
More than even the bottom looks near for this category (nice SFH $600K+). No sharp rebound, no new highs for many years, but no more significant downside (less than 5%) from here for SFH in nice areas currently valued at $600K+. If this is your target market you should be carefully assessing your options.
