If in fact “There is alot more demand than supply right now” then home prices would be rising in San Diego right now. That is clearly not happening. While everybody knows that supply is being artificially held back, obviously not enough to cause prices to rise. Bottom line, there is NOT more demand than supply. [/quote]
No, sdr (not SDR, which is confusing) is a 100 watt bulb even if he isn’t always right.
My agent, who is fairly well connected, says the same thing when he isn’t ranting about the recent changes to the appraisal process.
Some parts of the market are seeing some rises, but that’s the natural result of Helicopter Ben’s interest rate manipulation, the $8k tax credit, and other chicanery going on right now.
In my own case, the max my wife and I could responsibly offer went from $215k to $240k (yes, we are bottom feeders) in the last nine months or so. I doubt we’re the only ones.
