[quote=flu]Here’s food for thought. If loan standards are still strict, what is allowing people to purchase expensive RE here in SoCal….
Or are we now assuming lending standards aren’t so strict….[/quote]
Here’s food for thought. There’s no inventory. Of course prices are high. It doesn’t matter how strict loan standards are, since not many buyers are needed who can qualify.
Or do you think this is a hot market? Would you say the market for gasoline was hot when the price was $5 per gallon???
