*Foreclosures have continued at their present pace and also moved into a much larger segment of the nicer coastal areas like CV, etc
*Prices have dropped another 15% in the nicer areas
Then…………………”HS-Dude” time will truly go into high gear because that’s when panic will hit the people who still have equity in their homes and have been waiting for recovery. If both of those items above happen, sit back and watch the next installment of Price Wars because it’s going to be “Holy Shit, I’ve got to unload this house” time.
Different subject: I also follow the LA market and inventory for sale has jumped from 42,458 homes for sale to 45,493 in the last 21 days. A sign that some sellers are already panicking because listing prices have also substantially fallen in the last three weeks?
