I think carlsbad has a pretty good answer, most people who don’t have to sell, haven’t. Something to think about and I think it plays a bigger role than the bank shadow inventory.
But there is credence to the argument about diminishing space, temecula in particular, with the excepton of the half built tracts that shut down, there is no incorporated land left, during the next cycle it will experience its first land shortage. Those that are unfamiliar with the area and group in areas 10-15 miles north need to realize the distance between temec and wildomar is similar to carlsbad and escondido distance wise. There are no more orange groves to mow down, south is indian land/forest, east is county and 5 acre zoned, nothing left in the north of the city.
DWCAP, I don’t know how to answer the question, it was a stretch to call bottom, let alone call the style of the bottom. I’ll guess flat for all of 2009, the macro economy will dictate 2010. So many factors can have an effect, I think inflation is something that gets very little play these days but I don’t see how it is avoided in the next few years. I also don’t think the gov’t will fight it since it will help solve both the housing crisis and the debt issues.
Hey Temeculans, who’s up for a happy hour? I can’t make the next callahans event, and I hate to feel like I’ll be behind on my drinking scorecard. If there’s interest let’s set something up, maybe a sunday wine tasting, or an early week happy hour. If were gonna go down in flames I want my glass to be full.
