In valley my favorite roasting of townhomes, crest del Mar, its not even funny anymore. $700k asking for a 3/3 1533sqft condo. That’s well above peak prices…of course these are just asking prices. No one has actually bought….
My theory is there are a lot of people with an extra home or two just putting it on the market with a high asking price to see what sticks. If it sells, great
.. if it doesn’t no big deal since they aren’t in a hurry to sell. Especially if they bought a home or two during the crash. And with how low loan rates are, they probably can withstand holding out for a very very long time.
The proper way to fix this problem is to relax lending standards so more people can afford the new norm of high prices 🙂
