I don’t interpret the chart to mean that we are at the “cheapest” prices for real estate right now or soon. However, in the larger economic environment, the possibility that housing starts will begin to go up bodes well at least for the economy, because maybe it will start generating more jobs, more jobs means more money, more money means people spending it, etc. etc. Whether the chart indicates higher housing prices in the Scripps Ranch zip code 92131, I doubt it.
I myself am starting to see the beginnings of the housing starts. We are seeing dead projects being bought up and springing back to life. Soon, they will start actually building again, hiring more people.
