[quote=briansd1]
If a buyer can be rewarded by a nicer house for the same or slightly less money, then it’s worth waiting in my opinion.
For example in 92126, if you can buy north of Calle Cristobal rather then south, then it’s worth waiting.
I’ve see this play out in the 1990s and I expect this to play out again this time around, but to a greater extent, once the government backs off.[/quote]
But if you can get north of Calle Cristobal for south of Calle Cristobal price, then price would have to drop. So your statement of price staying the same would not apply. Also, if interest rate goes up as you expected, the 10% price drop might be offset by the 30-40% interest rate increase. So, how can you be rewarded again?
BTW, I don’t think the government will back off, but we can only wish. If the government back off, we’ll have a tsunami, not a trickle.
Once again, can you explain what you mean by yielding the same result? What result are you referring to? In the eye of a buyer, if we get a tsunami, I can get a Del Mar/Solana Beach house for the price of a Mira Mesa house. If it trickle, then that result will never happen.
